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Dan Mitchell testifies on the debt ceiling in front of the Joint Economi…
REMY: RAISE THE DEBT CEILING RAP
REMY: RAISE THE DEBT CEILING RAP (AGAIN)
TRY BORROWING AT A BANK WITH A FINANCIAL CONDITION LIKE THE USA HAS:
December 10, 2021
The Honorable Roy Blunt of Missouri
United States Senate
Washington, D.C. 20510
Dear Senator Blunt,
I was so excited my Arkansas Razorback Football played so good the last 4 games. Coach Pittman said we needed to do the 4 B’s in the last 4 games and become BOWL eligible by beating Miss St and then get BOOT back by beating LSU in Baton Rouge and then beat BAMA in Tuscaloosa (lost 49-42) and then finish the year by winning the BATTLE-LINE TROPHY by beating Missouri. 3 out of 4 is not bad and we beat your Missouri Tigers 34-17 and that a convincing win!!! Games are played in Congress too the way you decided to go back on you word not to help them Democrats raise the debt limit!! I wish I could help give you the BOOT!
After reading all your views on self-professed conservative economics and cutting spending I was surprised to read your name in this article below that said you made a way for Democrats to raise the debt ceiling even though 72% of your Republican friends in the senate would have no part of it and only 1 out of 201 Republicans in the House voted to do so!!!
Senate clears expedited debt limit process, Medicare cuts delay
Lawmakers still need to pass separate debt ceiling increase by next week to avoid Treasury cash crunch
Posted December 9, 2021 at 1:18pm, Updated at 6:27pm
The Senate broke a logjam over the statutory debt limit Thursday, clearing a measure that would allow Democrats to increase the nation’s borrowing capacity on their own without any Republican assistance necessary.
Final passage came after a critical procedural vote, in which 14 Republicans joined all Democrats on a cloture motion to limit debate. That bipartisan cooperation — on a deal brokered by Schumer and Minority Leader Mitch McConnell — cleared the way for Democrats to be able to increase the debt limit on their own and avoid a fiscal crisis.
Schumer thanked McConnell for the agreement in floor remarks Thursday, saying their talks were “fruitful, candid, productive.”
Nearly all House Republicans — with the exception of retiring Illinois Rep. Adam Kinzinger — voted against the measure Tuesday, railing against the agreement that McConnell brokered with Schumer.
Many Republicans argued that McConnell should have extracted some sort of concession from Democrats to help them advance a debt limit bill outside the reconciliation process, or forced them to use budget reconciliation.
In addition to McConnell, Republican Sens. John Barrasso, Wyo.; Roy Blunt, Mo.; Richard M. Burr, N.C.; Shelley Moore Capito, W.Va.; Susan Collins, Maine; John Cornyn, Texas; Joni Ernst, Iowa; Rob Portman, Ohio; Lisa Murkowski, Alaska; Mitt Romney, Utah; John Thune, S.D.; Thom Tillis, N.C.; and Roger Wicker, Miss., voted for cloture. The final tally was 64-36.…
Your vote to help the Democrats jump over the debt ceiling limit hurdle reminded me of this cartoon:
A.F. BRANCO December 10, 2021
DON’T YOU SEE THAT MAKING THE GOVERNMENT LIVE ON WHAT IT BRINGS IN WILL MAKE IT PRIORITIZE AND THE USA WILL NOT END UP AS GREECE? WHY GIVE THE DEMOCRATS A FREE PASS NOW?
I would love to get your reaction to this rap song which was recently written about you enabled the Democrats to do:
Remy: Raise the Debt Ceiling Rap (Again)
Putting America’s depressing fiscal policy to a beat since 2011!
Ten years and another $15 trillion added to the debt since his original rap, Remy is back to make it rain.
Written and performed by Remy; video produced by Meredith & Austin Bragg; mastering by Ben Karlstrom.
LYRICS:
Raise the debt ceiling!
Raise the debt ceiling!
Raise the debt ceiling!
Raise the debt ceiling again!
Thirty trillion in debt and yo we’re back again
Still printing lots of money, telling all of your friends
I told you this would happen but you were a doubting Thomas
Thirty is the last trillion I’ll ever need—I swear, I promise
It’s like we’re spending junkies just getting the itch
Can I have another trillion? I promised my district a bridge
It was a crisis before, we took the lesson to heart
By spending so much money now we’re printing pressing the chart
Spending billions and billions on sweet military gear
Did any wind up with the enemy? What do you want to hear?
Raise the debt ceiling!
I HAD AN OPPORTUNITY TO CORRESPOND WITH MILTON FRIEDMAN AND READ MANY OF HIS BOOKS AND HERE IS A GREAT ARTICLE I WISH YOU HAD READ EARLIER SO YOU WOULDN’T HAVE VOTED THE WAY YOU DID!!!
President Joe Biden has declared that his proposed $3.5 (or is it $5.5?) trillion “Build Back Better” social agenda will have a “zero” cost—as in $0.00! Why? Because the added expenditures will be covered by increased revenues drawn from businesses and the “rich.”
The President and other progressive Democrats, who have parroted the Biden claim, should reflect on the wisdom of the late Milton Friedman, who had a knack for crystallizing stark economic truths.
During the early 1980s, when supply-side economics was the rage, Reagan Republicans promoted tax-rate cuts as a means of reviving the economy (because the cuts would increase people’s incentives to work, save, and invest), which Friedman believed distracted them from concern about what was happening to government outlays, which continued to rise throughout the decade.
Friedman framed the fiscal issues of the day differently, and with far greater clarity than anyone else. He admonished everyone (including President Reagan’s advisors), to “Keep your eye on one thing and one thing only: how much government is spending, because that’s the true tax. . . If you’re not paying for it in the form of explicit taxes, you’re paying for it indirectly in the form of inflation or in the form of borrowing.”
And make no mistake, government outlays have risen substantially, especially lately, increasing from $3.9 trillion in 2016 to $6.6 trillion in 2020 (including Covid outlays). Even without passage of the reconciliation bill, the White House estimates that federal outlays will continue their upward march through 2026.
Friedman understood that the real taxes on the economy ultimately come in the form of government outlays siphoning off resources for public purposes that would otherwise be used in the private sector. If the government chooses to build a bridge or road, the concrete and steel could have been used to produce houses and office buildings.
How the added government outlays are financed—through taxes, newly printed dollars and inflation, or debt—is of secondary importance, perhaps only marginally affecting people’s incentives. The costs of expanded government outlays will be incurred through the shift of resources from private-directed uses to public-directed uses.
By declaring that his “Build Back Better” agenda has no costs, President Biden must be confused—if he truly means what he has been saying. He may think that the dollars expended for an expanded array of welfare recipients will come only at the expense of the “rich.” Not so at all. Those transferred dollars will enable the recipients to buy goods they could not otherwise buy, which means they can pull resources away from the production of the variety of goods that ordinary Walmart (and Home Depot and Kroger) shoppers, many with far less-than-privileged means, would have bought.
Richard McKenzie is an economics professor (emeritus) in the Merage Business School at the University of California, Irvine. His latest book is The Selfish Brain: A Layman’s Guide to a New Way of Economic Thinking (2021).
The largest threat to our prosperity is government spending that far exceeds the authority enumerated in Article 1, Section 8 of the U.S. Constitution. Federal spending in 2017 will top $4 trillion. Social Security, at $1 trillion, will take up most of it. Medicare ($582 billion) and Medicaid ($404 billion) are the next-largest expenditures. Other federal social spending includes food stamps, unemployment compensation, child nutrition, child tax credits, supplemental security income and student loans, all of which total roughly $550 billion. Social spending by Congress consumes about two-thirds of the federal budget.
Where do you think Congress gets the resources for such spending? It’s not the tooth fairy or Santa Claus. The only way Congress can give one American a dollar is to use threats, intimidation and coercion to confiscate that dollar from another American. Congress forcibly uses one American to serve the purposes of another American. We might ask ourselves: What standard of morality justifies the forcible use of one American to serve the purposes of another American? By the way, the forcible use of one person to serve the purposes of another is a fairly good working definition of slavery.
Today’s Americans have little appreciation for how their values reflect a contempt for those of our Founding Fathers. You ask, “Williams, what do you mean by such a statement?” In 1794, Congress appropriated $15,000 to help French refugees who had fled from insurrection in Saint-Domingue (now Haiti). James Madison, the “Father of the Constitution,” stood on the floor of the House to object, saying, “I cannot undertake to lay my finger on that article in the federal Constitution which granted a right to Congress of expending, on objects of benevolence, the money of their constituents.” Most federal spending today is on “objects of benevolence.” Madison also said, “Charity is no part of the legislative duty of the government.”
Walter E. Williams is a professor of economics at George Mason University.
Everette Hatcher III, 13900 Cottontail Lane, Alexander, AR 72002, everettehatcher@gmail.com,
Graham Warns Senators: ‘If You’re Wondering Why There’s A Donald Trump,
Dan Mitchell, Cato Institute, Debt Ceiling
“Raise the Debt Ceiling” rap goes viral
Daniel J. Mitchell – USA: Drowning In Debt?
The problem in Washington is not lack of revenue but our lack of spending restraint. This video below makes that point. WASHINGTON IS A SPENDING ADDICT!!!
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I HAVE WRITTEN REPUBLICAN SENATORS AND REPRESENTATIVES ABOUT THE IMPORTANCE OF NOT RAISING THE DEBT CEILING FOR OVER AN DECADE NOW!!!! WHY DO THEY CONTINUE TO DO SO EVEN THOUGH THEY ALL SAY THEY ARE AGAINST BORROWING 40% OF WHAT THE GOVERNMENT SPENDS? Look at some of these previous letters below:
The Honorable Shelley Moore Capito
United States Senate
Washington, D.C. 20510
Dear Senator Capito,
On September 16, 2021 my post “46 REPUBLICAN SENATORS VOW NOT TO HELP DEMOCRATS RAISE THE DEBT CEILING (HERE WE GO AGAIN!!!!!)” and you were one of the 46 Senators who pledged not to raise the debt ceiling but you folded like a wet leaf just like I predicted:
I have written before about those heroes of mine that have resisted raising the debt ceiling but in the end I have always been disappointed and here we go again!
But first let me give you a taste of something I wrote about 10 years ago on this same issue!
Why don’t the Republicans just vote no on the next increase to the debt ceiling limit. I have praised over and over and overthe 66 House Republicans that voted no on that before. If they did not raise the debt ceiling then we would have a balanced budget instantly. I agree that the Tea Party has made a difference and I have personally posted 49 posts on my blog on different Tea Party heroes of mine.
What would happen if the debt ceiling was not increased? Yes President Obama would probably cancel White House tours and he would try to stop mail service or something else to get on our nerves but that is what the Republicans need to do.
I have written and emailed Senator Pryor over, and over again with spending cut suggestions but he has ignored all of these good ideas in favor of keeping the printing presses going as we plunge our future generations further in debt. I am convinced if he does not change his liberal voting record that he will no longer be our senator in 2014.
I have written hundreds of letters and emails to President Obama and I must say that I have been impressed that he has had the White House staff answer so many of my letters. The White House answered concerning Social Security (two times), Green Technologies, welfare, small businesses, Obamacare (twice), federal overspending, expanding unemployment benefits to 99 weeks, gun control, national debt, abortion, jumpstarting the economy, and various other issues. However, his policies have not changed, and by the way the White House after answering over 50 of my letters before November of 2012 has not answered one since. President Obama is committed to cutting nothing from the budget that I can tell.
I have praised over and over and over the 66 House Republicans that voted no on that before. If they did not raise the debt ceiling then we would have a balanced budget instantly. I agree that the Tea Party has made a difference and I have personally posted 49 posts on my blog on different Tea Party heroes of mine.
46 Republican Senators Vow Not to Help Democrats Raise the Debt Ceiling
All but four Republican senators have signed a pledge that they will not vote to raise the debt ceiling, sending another warning to Democrats that they are on their own on the pressing issue.
Sen. Ron Johnson (R-WI) circulated a letter during the chamber’s vote-a-rama on the $3.5 trillion budget resolution Wednesday, signing up a majority of his fellow Republicans in an effort to link the Democrats’ proposed spending package with the statutory debt limit imposed on the federal government by Congress, which covers spending that has already been approved and must be paid by the U.S. Treasury.
In the letter, which is addressed to “Our Fellow Americans,” the Republican signatories claim that Democrats are responsible for increased federal spending and so must be responsible for raising the debt limit. “We will not vote to increase the debt ceiling, whether that increase comes through a stand-alone bill, a continuing resolution, or any other vehicle,” the letter says. “Democrats, at any time, have the power through reconciliation to unilaterally raise the debt ceiling, and they should not be allowed to pretend otherwise.”
The Republicans who didn’t sign the letter are Sens. Susan Collins of Maine, John Kennedy of Louisiana, Lisa Murkowski of Alaska and Richard Shelby of Alabama.
Why now: A two-year suspension of the debt ceiling expired at the end of July, forcing the U.S. Treasury to begin taking “extraordinary measures” to keep paying its bills as it waits for Congress to either raise or suspend the limit before the country is forced to default. Democrats opted not to include an increase in the debt ceiling in their budget resolution, which would have made it possible to raise the limit without Republican support, though they still have the option of revising the resolution to include such a provision.
What Democrats say: Democrats point out that much of the increased debt in recent years was produced during former President Trump’s administration. “I cannot believe that Republicans would let the country default,” Senate Majority Leader Chuck Schumer (D-NY) said Wednesday. “It has always been bipartisan to deal with the debt ceiling. When Trump was president I believe the Democrats joined with him to raise it three times.”
President Biden told reporters Wednesday that trillions in debt were added “on the Republicans’ watch” but said he was confident that the GOP would act in time. “They are not going to let us default,” he said.
The bottom line: No one expects Congress to allow the U.S. to default, but it looks like we could be in for a high-stakes game of chicken in the coming weeks — and the markets are starting to notice. According to Reuters Wednesday, “Some U.S. Treasury bill yields are beginning to reflect concerns that lawmakers may wait until the last minute to increase or suspend the debt ceiling.”
Will you stand up against the Democrats in the future and make the Government ONLY SPEND WHAT IT BRINGS IN? We are becoming an entitlement society and we must stop this trend!!!!
Everette Hatcher III, 13900 Cottontail Lane, Alexander, AR 72002, everettehatcher@gmail.com, http://www.thedailyhatch.org cell 501-920-5733
PS: In 2010 we had a group of conservatives get elected in the House and many of them stood up to President Obama when he wanted to raise the debt limit and I praised these 66 heroes of mine on my blog in 2011 and Representative Andy Harris of Maryland was one of those. Here is what I wrote about him:
Sixty Six who resisted “Sugar-coated Satan Sandwich” Debt Deal (Part 37)
This post today is a part of a series I am doing on the 66 Republican Tea Party favorites that resisted eating the “Sugar-coated Satan Sandwich” Debt Deal. Actually that name did not originate from a representative who agrees with the Tea Party, but from a liberal.
Rep. Emanuel Clever (D-Mo.) called the newly agreed-upon bipartisan compromise deal to raise the debt limit “a sugar-coated satan sandwich.”
“This deal is a sugar-coated satan sandwich. If you lift the bun, you will not like what you see,” Clever tweeted on August 1, 2011.
August 1, 2011
Rep. Harris Votes Against the Debt Ceiling “Deal”
Washington, DC – Today, Rep. Andy Harris voted against the debt ceiling increase. The plan did not require passage of a balanced budget amendment, which Rep. Harris feels is essential to bringing permanent common sense accountability to Washington.
“A balanced budget amendment is the only way to make sure the federal government spends what it takes in and lives within its means,” said Rep. Andy Harris. “Over the past few weeks I have repeatedly voted for reasonable proposals to raise the debt ceiling that included passage of a balanced budget amendment. But I didn’t come to Washington to continue writing blank checks. Maryland’s families and job creators sent me to Congress to permanently change the way Washington does business. I appreciate Speaker Boehner’s remarkable, historic efforts to craft a proposal to solve the debt ceiling issue. But today’s debt ceiling deal just doesn’t go far enough to build an environment for job creation by requiring passage of a balanced budget amendment to bring permanent common sense accountability to Washington.”
Currently, the U.S. Government has a national debt of $14.3 trillion and runs an annual deficit of $1.65 trillion.
Andrew Peter Harris (born January 25, 1957) is an American politician and physician who has been the U.S. Representative for Maryland’s 1st congressional district since 2011. The district includes the entire Eastern Shore, as well as several eastern exurbs of Baltimore. He is currently the only Republicanmember of Maryland’s congressional delegation. Harris previously served in the Maryland Senate.
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Andy Harris
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| Member of the U.S. House of Representatives from Maryland‘s 1st district |
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| Assumed office January 3, 2011 |
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| Preceded by | Frank Kratovil |
| Member of the Maryland Senate | |
| In office 1999 – January 3, 2011 |
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| Preceded by | Vernon Boozer (9th) Norman Stone (7th) |
| Succeeded by | Robert Kittleman (9th) J.B. Jennings (7th) |
| Constituency | 9th district (1999–2003) 7th district (2003–2011) |
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Arkansas state Sen. Jason Rapert presides over a Senate committee at the state Capitol in Little Rock, Ark. in this March 14, 2018, file photo. Rapert’s National Association of Christian Lawmakers met recently to talk model legislation and pass resolutions. Kelly P. Kissel, Associated Press/cdn.vox-cdn.com/uploads/chorus_asset/file/22726922/AP898166992908.jpg)
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