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Opinions/Editorials Title: Open Letter: Why I Oppose the Debt Ceiling Compromise (Adds 7 Trillion to debt) WASHINGTON, D.C. - Today Sen. Rand Paul issued an open letter on the subject of the debt ceiling compromise facing the Senate. Below is that letter. To paraphrase Senator Jim DeMint: When you're speeding toward the edge of a cliff, you don't set the cruise control. You stop the car. The current deal to raise the debt ceiling doesn't stop us from going over the fiscal cliff. At best, it slows us from going over it at 80 mph to going over it at 60 mph. This plan never balances. The President called for a "balanced approach." But the American people are calling for a balanced budget. This deal does nothing to fix the overreaches of both parties over the past few years: Obamacare, TARP, trillion-dollar wars, runaway entitlement spending. They are all cemented into place with this deal, and their legacy will be trillions of dollars in new debt. The deal that is pending before us now: Buried in the details of this bill is the automatic debt limit increase proposed a few weeks ago. The second installment of the debt ceiling increase is initiated by the President automatically and can only be stopped by a two-thirds vote of Congress. This shifts the Constitutional check on borrowing from Congress to the President and makes it easier to raise the debt ceiling. Despite claims to the contrary, none of the triggers in this bill include withholding the second limit increase. Credit rating agencies have clearly stated the type of so-called cuts envisioned in this plan will result in our AAA bond rating being downgraded. Ironically then, the only way to avoid our debt being downgraded and the resulting economic problems that stem from that is for this bill to fail. This plan does not solve our problem. Not even close. I cannot abide the destruction of our economy, therefore I vigorously oppose this deal and I urge my colleagues and the American people to do the same. Sincerely, Rand Paul, M.D. United States Senator Post Comment Private Reply Ignore Thread Top Page Up Full Thread Page Down Bottom/Latest
#1. To: hondo68 (#0)
Actually, in defensive driving they teach you to avoid hitting the breaks and coming to a complete stop - and prefers you steer your way out of the potential hazard. In any case this reveals the retardation of the Republican party that it has to invent faux folksy analogies for their rube base that are not linked to actual economic science that would involve analytic thought. Let's compare the economy to a speeding car heading for a cliff - that will make the rubes understand the complexities of a 21st century economy......that's the ticket. Lap up your pablum, you rube hicks.
With the economy still in the dumper -- maybe permanently? -- and full-time jobs becoming as scarce as rain during a drought, huge percentages of Americans have had their (misplaced) faith in the American dream shaken, the upper-middle-class consumerist lifestyle is exposed as a mirage for anybody who plays by the rules. Capitalism and the America that embraced it as a way of life is now and forever more a failure. It does me good to know that the generation that voted in Reagan and his ideology will see their America die from that ideology before their very own eyes and knowing they had a hand in its destruction.
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