A Debt-Limit Election

Democrats say they won't vote to raise the debt limit unless they get someone in the private sector to pay higher taxes. Republicans say they won't raise the debt limit unless they get reductions in public-sector spending without raising taxes.

Not a vote of Congress, but of the American people—the 130 million or so who will vote for president in November 2012.

The debt-limit fight is being depicted as mostly a green-eyeshades funding technicality, dating back, not surprisingly, to 1939. It's bigger than that. When Congressman Paul Ryan says we have arrived at a "defining moment," this is what he means. The issues that have surfaced in the debt-limit struggle will—or should—define how this country's people see themselves for at least a generation

This isn't just numbers. It's who we are and what we've become. Politics R Us. Now, after all these decades of politicking, the two parties have arrived at a $14 trillion debt limit. We are going to decide right here who we will be in the future.

Some part of the American people manifestly does not want to go further into what this debt represents. Some do want to go further. As always, we will work this out, not with tear gas in the streets, but through the two political parties. Independent voters, that great swath of Hamlets who never quite know what they want, will have to cast a vote in 2012 that matters beyond the next election cycle.

In November 2010, an anxious American public, stunned by the wreckage caused by the 2008 financial crisis, swept Republicans into power. Absent those political forces, it's likely a debt-limit increase, with Mickey Mouse taxes, already would have passed a status quo Congress with the Republicans waving

Good the Government will actually have to operate on the money it gets for a change.

We can then blame Obama for any miss-allocation and prioritization of resources.

Wall Street Journal ^ | June 30, 2011 | DANIEL HENNINGER Democrats say they won't vote to raise the debt limit unless they get someone in the private sector to pay higher taxes. Republicans say they won't raise the debt limit unless they get reductions in public-sector spending without raising taxes

Both positions are WRONG.If the limit is raised it does not matter what sort of deal is reached to accomplish that. The fact is the Limit has been raised and wrecking of the Economy proceeds with the inevitable Republican acquiescence and backing.

I, for one, do not want the debt limit raised under any circumstances. This bloated government can start cutting the hell out of their workforce, their entitlement programs and the wasteful expenditures and largesse for other countries that hate us. They can sell GM, they can sell FIAT, Chrysler and whoever else they've subsidized and 'own' a part of.

Republicans in Congress need desperately to show they have balls AND conviction and they need to hold the line. Let Obama choke on his entitlements and the wrath of his erstwhile voter constituency. Hold fast and they'll have to figure out how to cut things in the budget that Republicans can agree with.

They can make payments on the debt periodically with quarterly revenues from tax receipts and they can have that damn firesale of the crap they needlessly own. Screw them.

"I deem [this one of] the essential principles of our government and consequently [one] which ought to shape its administration:... The honest payment of our debts and sacred preservation of the public faith." --Thomas Jefferson: 1st Inaugural, 1801. ME 3:322

"I sincerely believe... that the principle of spending money to be paid by posterity under the name of funding is but swindling futurity on a large scale." --Thomas Jefferson to John Taylor, 1816. ME 15:23

"[With the decline of society] begins, indeed, the bellum omnium in omnia [war of all against all], which some philosophers observing to be so general in this world, have mistaken it for the natural, instead of the abusive state of man. And the fore horse of this frightful team is public debt. Taxation follows that, and in its train wretchedness and oppression." --Thomas Jefferson to Samuel Kercheval, 1816. ME 15:40

RE: Not a vote of Congress, but of the American people—the 130 million or so who will vote for president in November 2012.

Don't forget that 50% of Americans pay NO Federal taxes. How about a vote only by those 50% that are supporting the other 50%

It may be that 50% pay no income tax, but almost everybody pays social security, medicaid, gasoline excise taxes, etc., etc. These are federal taxes.

You are wrong. When the Earned Income Tax Credit was passed its stated purpose was to offset SS taxes. When you add retirees to the EITC folks, you have nearly 40% of the population that effectively pay no federal taxes. There’s no Constitutional requirement for the federal government to build roads. If they were private toll roads - which were familiar in 1787 - there would be a user fee, and you wouldn’t call that a tax.

If the feds on a whim decided there was a garbage crisis and used the excuse to take over all garbage collection, would you call your garbage fee a tax?

Stop muddying the waters. If it takes a village, then some villagers are hiding when the work is being done.

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