The Debt Ceiling - Manufacturing A Crisis

The debt ceiling issue is one that will be played out again and again, until there is absolutely no more playing. The reason for it is simple, neither Republicans or Democrats are putting forth any real spending cuts and so we continue towards economic collapse at the hands of either. This issue is not limited to the Obama administration, nor is it limited to the year 2013.

In 2006, when George W. Bush was president, then U.S. Senator Barack Obama said that the Bush administration "has been the most fiscally irresponsible administration that we have seen."

He went on to state, "The fact that we are here today to debate raising America's debt limit is a sign of leadership failure. It is a sign that the U.S. Government can't pay its own bills. It is a sign that we now depend on ongoing financial assistance from foreign countries to finance our Government's reckless fiscal policies. ... Increasing America's debt weakens us domestically and internationally. Leadership means that 'the buck stops here. Instead, Washington is shifting the burden of bad choices today onto the backs of our children and grandchildren. America has a debt problem and a failure of leadership. Americans deserve better."

However, in 2013, he proudly proclaims, "To even entertain the idea of this happening (not raising the debt ceiling), of the United States of America not paying its bills, is irresponsible. It's absurd."

While he chided the Bush administration for "almost doubling the national debt," Barack Obama will see more than double the national debt under his two terms. In fact, at the pace he is governing at, it appears that he may double the national debt in the middle of his second term.

But hey, it's just Obama right? Wrong. During the Bush administration, most Republicans were for raising the debt ceiling. Under Obama they have been against it.

The same is true for Democrats. They were against it under Bush, but remain steadfastly for it under Barack Obama. Now we find Democrats are even encouraging Obama to violate the Constitution and use the 14th Amendment to sidestep Congress and raise the debt ceiling himself.

Both sides are guilty of raising the debt ceiling. Of that, there is no question. The fact speak for themselves. In fact, the London Guardian provides extensive data to affirm the claim. The data shows that under the presidency of Ronald Reagan, the debt ceiling rose 18 times. That's more times than any other president. Understandably the Cold War was taking place and in outspending the Russians, Communism fell in Russia. However, Ronald Reagan was not looking at nearly $17 trillion in debt either. That doesn't mean the national debt was not a significant amount. When he left office, the year end debt of fiscal year 1987 was $2.336 trillion. During his presidency the national debt increased $1.337 trillion. That was over eight years! Barack Obama has seen that amount of debt increase almost annually as he has been in office!

Here's the history of the debt ceiling and the national debt, provided by the Guardian.

Only one time since 1940 has our national year end debt been less than the previous year. That was in 1957 under President Dwight Eisenhower, when the national debt dropped from $271 million to $269 million.

The really sickening thing in this is that Barack Obama chided the Bush administration, even calling them "unpatriotic" and then turning around and saying they didn't, for its spending and the debt it brought and lo and behold, his administration will, not may, more than double the national debt since he took office. He is simply being hypocritical.

The real problem here is that Congress cannot be trusted with our money. They have proven that over and over, especially in the past five years as they have spent more than $1 trillion in deficits annually.

What needs to happen is to dramatically cut spending. Stop manufacturing fake crises and raising the debt ceiling almost every year to finance spending sprees. Additionally, passing a budget would be helpful and I might add lawful. While the House has passed a budget every year, the Senate has yet to pass one since Obama has been in office.