The Learning Curve

New tricks for an old dog.

The salvation of simplicity

It’s useful to know the difference between cause and effect. Reaching the Federal debt ceiling is he result of past spending and tax decisions, but it is not the cause of future spending. Raising the debt ceiling is not an invitation to further imbalance between spending and revenue. Raising the debt ceiling is the practical means by which existing debts will be paid.  That’s it. The fun and games of the 2012 Federal budget negotiations are just around the corner, and no expansion of future Federal discretionary spending will happen unless the Congress authorizes it.

The only question is if Congress intends to pay the Nation’s past debts. The issue presented has nothing to do with future budgets, spending or taxation. Those difficult matters are rightly part of the annual budget process.

My request to Congress is to cease the chatter about fiscal responsibility and to demonstrate it by doing its Constitutionally defined job to, “borrow Money on the credit of the United States.”

Just raise the debt limit.

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Written by Tom Fox

07/25/2011 at 3:03 am

Posted in Politics

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