Category Archives: spending out of control

OPEN LETTER TO REPUBLICAN SENATOR WHO PLEDGED NOT TO HELP DEMOCRATS RAISE THE DEBT CEILING BUT DID IT ON DECEMBER 10, 2021 WHEN 14 REPUBLICANS WHO SAID THEY DON’T APPROVE OF THE GOVERNMENT BORROWING 40% OF WHAT THEY SPEND VOTED A WAY FOR DEMOCRATS TO DO JUST THAT!!!! Part 12 Senator Tom Tillis of North Carolina

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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 Tom Tillis of North Carolina
United States Senate
Washington, D.C. 20510

Dear Senator Tillis

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

Senate Minority Leader Mitch McConnell speaks during the a news conference in the Capitol on Tuesday, Nov. 30, 2021. Behind McConnell, from left, are Sens. John Barrasso, R-Wyo., John Thune, R-S.D., and Joni Ernst, R-Iowa. (Bill Clark/CQ Roll Call)
Senate Minority Leader Mitch McConnell speaks during the a news conference in the Capitol on Tuesday, Nov. 30, 2021. Behind McConnell, from left, are Sens. John Barrasso, R-Wyo., John Thune, R-S.D., and Joni Ernst, R-Iowa. (Bill Clark/CQ Roll Call)

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.”

“The proposal I worked on with Leader McConnell will allow Democrats to do precisely what we’ve been seeking to do for months… provide a simple majority vote to fix the debt ceiling without having to resort to a convoluted, lengthy and ultimately risky process,” Schumer said.

McConnell began drawing battle lines over the debt limit this summer, alerting Democrats that Republicans didn’t intend to cooperate on any debt limit bill unless Democrats stopped work on their roughly $2 trillion climate and social spending reconciliation bill. If they continued to work on that package, he said, they should use the same fast-track budget reconciliation process to advance a debt limit bill.

Democrats vowed not to use the reconciliation process for the debt limit or to stop work on their tax and spending package. The intransigence placed Congress in a deadlock over the debt limit as the Treasury Department inched closer to running out of money to pay all of the country’s bills in October.

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!

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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!
Raise the debt ceiling!
Raise the debt ceiling!
Raise the debt ceiling again!

Back up in the Fed and we’re still super stoked
Somehow printing lots of money while we’re working remote
Still dropping IOUs in every fund yes sir
Hamilton started this place—that’s why it only goes “BURR!!!”

Prices are rising at every venue it’s bad
And for sure that dollar menu looks especially sad
Gas prices are rising, it’s getting hard for the competent
It costs an arm and a leg—where am I? The Saudi consulate?

Leaving IOUs you should give it a try son
M1 used to sink your battleship, now it’s what you use to buy one
Just say the magic word, I’ll set the printer abuzz
Charmin might run out of paper son, but guess who never does?

Raise the debt ceiling!
Raise the debt ceiling!
Raise the debt ceiling!
Raise the debt ceiling again!

Now if you examine the chart and you look close again
We borrow more than 40 cents of every dollar we spend
Nondiscretionary spending is at terrible paces!
Do you have a response? Yes! You’re racist

We should spend most on children! We should spend most on patients!
Okay—hear me out—why don’t we spend most on interest payments?
We’re playing with fire we know the end of this story!
How do you classify your incompetence? Transitory

Objects in the mirror are closer than they seem
And to a man with a printer each problem looks like a ream
But when I’m looking at the folks that we’ve elected to lead
I’m guessing that it won’t be long till we’re back saying we need to

Raise the debt ceiling!
Raise the debt ceiling!
Raise the debt ceiling!
Raise the debt ceiling again!

SADLY IT WAS JUST 10 YEARS AGO WHEN REMY WROTE ABOUT A 15 TRILLION DEBT:

LYRICS:

Raise da debt ceiling!Raise da debt ceiling!Raise da debt ceiling!Raise da debt ceiling!

14 trillion in debtbut yo we ain’t got no qualmsdroppin $100 billsand million dollar bombs

spending money we don’t havethat’s the name of the gamethey call me cumulo nimbusbecause you KNOW I make it rain

bail out all kind of carsgot all kind of whipsladies ask me how I get emI tell em STIMULUS

Social Security surplus?Oh, guess what? it’s goneI got my hands on everythinglike Dominique Strauss Kahn

ain’t got no Medicare trust fundson, that’s just absurdspending every single penny thatwe see, son, have you heard?

ain’t got no moral objectionsain’t got kind of complaintsain’t got no quantitativestatutory budget restraints

so…[CHORUS]

Yo, we up in the Fedand we living in styleSpending lots of moneywhile we sipping crystal

still making it rainand yeah it be so pleasingwait, not making it rain–we be “Quantitative Easing!”

QE1, QE2QE4, QE3Dropping IOU’sin every fund that I see

printing the cashinflating the moniescallin up China”a-yo we straight out of 20’s!”

in the clubwe be louding outwhile to the market, yeahwe be crowding out

on the beach getting tanand sipping Coronawe got a monetary plan–and it involves a lot of toner…

[CHORUS]

So if you look at the chartand examine the trendwe borrow 40 cents of everysingle dollar we spend

and non-discretionary spendingincreases every daydo you have a comment for Committee?I MAKE IT RAIN

Mr. Speaker, Mr. Speakerwould you beam me up?A Congressperson cutting spending?Couldn’t dream me up

We’re gonna defaultif we follow this road!I should have thought of this14 trillion dollars ago!

I’m the king of the linksI’m a menace at tennisI’m sticking spinnaz on my rimspicking winnaz in business

if you’re looking for some cashit’s about to get heavyI got some big ol’ piles of moneyand guess what–they shovel ready

[CHORUS]

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!!!

Milton Friedman and “Zero Cost” Expanded Government

By:

Richard McKenzie

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).

HERE ARE SOME SUGGESTIONS YOU HAVE IGNORED:

The Solution to the Debt Ceiling Debacle

Fundamental spending reform needed.

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Deficits are also going to go up to $544 billion from last year’s $439 billion. Over the coming decade, the size of the federal deficit will double to reach an annual gap of almost 5 percent of GDP. CBO predicts that deficits will total $9.4 trillion. That’s up $1.5 trillion from its August report. It also notes that under the alternative scenario budget projection, spending will increase to 21.9 percent of GDP in 2020, to 25.8 percent in 2030, and to 30.4 percent in 2040.

The expansion of mandatory programs—such as Medicare, Medicaid, Affordable Care Act subsidies, and Social Security—is the driving force behind this spending growth and our exploding debt. These entitlements will trigger even higher levels of debt in the years outside the 10-year budget window.

Unfortunately, as the debt grows, the interest payments on that debt will grow as well. If the United States does not change course, interest on the debt will end up as one of its biggest budget items. Our unfunded liabilities keep going up, too. The net present value of the promises made to the American people for which the United States does not have the money to pay is roughly $75.5 trillion, according to the Treasury Department.

High debt levels are problematic. As CBO explained a few years ago:

Such high and rising debt later in the coming decade would have serious negative consequences: When interest rates return to higher (more typical) levels, federal spending on interest payments would increase substantially. Moreover, because federal borrowing reduces national saving, over time the capital stock would be smaller and total wages would be lower than they would be if the debt was reduced. In addition, lawmakers would have less flexibility than they would have if debt levels were lower to use tax and spending policy to respond to unexpected challenges. Finally, a large debt increases the risk of a fiscal crisis, during which investors would lose so much confidence in the government’s ability to manage its budget that the government would be unable to borrow at affordable rates.[v]

These numbers are important to keep in mind when discussing the next debt ceiling deadline. Indeed, when March 2017 comes around we can expect that Washington will once again have the same debate it has had for the last few years about whether or not to raise the debt ceiling and under what circumstances. On one side you will find those who want to raise the limit without questions asked. On the other side, you will find those who will demand reforms in exchange for yet another increase in the debt ceiling.

Continuing to pass debt ceiling increases without proper spending reforms would be irresponsible. It is also irresponsible to signal to the international community that the US government could possibly default on its debt obligations while Washington works through whether it will raise the debt limit before or after it formulates a plan to reduce government spending.

WHAT’S AT STAKE

To be sure, default should not be an option on the table. However, raising the debt ceiling without a commitment to improve our long-term debt problem has adverse consequences. In 2011, the rating agency Fitch warned the US government that while it supported raising the debt ceiling, it also wanted the government to come up with a credible medium-term deficit-reduction plan.[vi] Other rating agencies at the time also warned the United States of the negative consequences of not dealing with the country’s long-term debt.

If Congress does not address our debt problem before March 2017, the optimal outcome would then be to raise the debt limit while Congress and the president pass a credible plan to reduce near- and long-term spending at the same time.

Fortunately, if an agreement to control spending and raise the debt limit is not reached, the United States need not risk defaulting on its debt. The Treasury Department has the legal authority to prioritize interest payments on the debt above all other obligations, whether that means delaying payments to contractors or managing other obligations. But Congress should not be forced to raise the debt ceiling under false pretenses.

As was the case in 2011, the United States will have enough expected cash flow (tax revenue) and assets on hand to avoid either of these unattractive options. Managing payments in this manner is by no means optimal, and Treasury officials have indicated that this will be difficult owing to payment automation. That said, it is important to recognize the options that are available to prevent a default. While Washington has difficult choices to make, defaulting on its debt obligations should not be part of the discussion about how to handle the debt limit or reduce long-term government spending.

REAL INSTITUTIONAL REFORM

The heated rhetoric coming in March 2017 about whether Congress should raise the debt ceiling will obscure the federal government’s real problem: an unprecedented increase in government spending and the future explosion of entitlement spending has created a fiscal imbalance today and for the years to come. No matter what Congress decides to do about the debt ceiling, the United States must implement institutional reforms that constrain government spending and return the country to a sustainable fiscal position.

Real institutional reforms, as opposed to onetime cuts, would change the trajectory of fiscal policy and put the United States on a more sustainable path. Such reforms could include:

1. A constitutional amendment to limit spending. The inability of lawmakers to constrain their own spending makes spending limits enforced through the US Constitution preferable.[vii]

2. Meaningful budget reforms that limit lawmakers’ tendency to spend. In the absence of constitutional rules, budget rules should have broad scope, few and high-hurdle escape clauses, and minimal accounting discretion.[viii]

3. The end of budget gimmicks. Creative bookkeeping is at the center of many countries’ financial troubles. Congress should institute a transparent budget process and end abuse of the emergency spending rule, reliance on overly rosy scenarios, and all other gimmicks.[ix]

4. A strict cut-as-you-go system. This system should apply to the entire federal budget, not just to a small portion of it. There should be no new spending without offsetting cuts.[x]

5. A BRAC-like commission for discretionary spending. Commissions composed of independent experts often tackle intractable political problems successfully.[xi]

REAL ENTITLEMENT REFORMS

As mentioned earlier, the drivers of our future debt are spending on Medicare, Medicaid, Affordable Care Act subsidies, and Social Security. Without reforms today, vast tax increases will be needed to pay for the unfunded promises made to a steadily growing cohort of seniors.

While economists disagree when it comes to fiscal policy, a consensus has emerged that spending-based fiscal adjustments are not only more likely to reduce the debt-to-GDP ratio than tax-based ones but are also less likely to trigger a recession.[xii] In fact, if accompanied by the right type of policies (especially changes to public employees’ pay and public pension reforms), spending-based adjustments can actually be associated with economic growth.

Fortunately, numerous workable solutions are available to lawmakers, including adding a system of personal savings accounts to Social Security, liberalizing medical savings accounts, and making the latter permanent to reduce healthcare costs by increasing competition between providers and making consumers more responsive to tradeoffs.[xiii]

These options are supposed to encourage families to save more and also to use their money more responsibly and in a manner more consistent with their long-term needs. And since taxpayers remain in control of their cash, they can also pass it along if they don’t use it all before they die—giving the next generation a head start when it comes to building assets.

Better yet, we should free the healthcare supply from the many constraints imposed by federal and state governments and the special interests they serve.[xiv]The stakes are high: Bringing revolutionary innovation to this industry could mean not just bending the healthcare cost curve but breaking it to bits—making the need for health insurance much less important, if not moot, in many cases.

REVENUE AND ASSETS AVAILABLE TO FUND OUR COMMITMENT UNTIL AN AGREEMENT IS REACHED

With that in mind, let’s think about what happens in March 2017. At that time, the government will reach the debt ceiling, and the Treasury will no longer be able to issue federal debt. The federal government could reduce spending, increase federal revenues by a corresponding amount to cover the gap, or find other funding mechanisms. This would allow time for Congress and the president to reach an agreement to change the country’s financial path before raising the debt ceiling.

At that time, the Treasury Department will have several financial management options to continue paying the government’s obligations. These include (1) prioritizing payments;[xv] (2) taking financial steps, including permitting the suspension of investments in, and the redemption of securities held by, certain government trust funds or postponing the sale of nonmarketable debt;[xvi] (3) liquidating some assets to pay government bills;[xvii] and (4) using the Social Security Trust Fund to continue paying Social Security benefits.[xviii]

PRIORITIZING PAYMENTS

The Secretary of the Treasury has long-standing authority to prioritize payments and does not have to pay bills in the order in which they are received. The US Government Accountability Office found that

the Secretary of the Treasury has the authority to determine the order in which obligations are to be paid should the Congress fail to raise the statutory debt ceiling and revenues are inadequate to cover all required payments. There is no statute or other basis for concluding that the Treasury must pay outstanding obligations in the order they are presented for payment. Treasury is free to liquidate obligations in any order it determines will best serve the interests of the United States.[xix]

According to a report by the Treasury Department’s Inspector General (IG), during the 2011 debt ceiling crisis the Treasury “considered a range of options with respect to how Treasury would operate if the debt ceiling was not raised.” Further, the report notes that Treasury officials told the IG that “organizationally they viewed the option of delaying payments as the least harmful among the options under review” and that “the decision of how Treasury would have operated if the U.S. had exhausted its borrowing authority would have been made by the President in consultation with the Secretary of the Treasury.”[xx]

TEMPORARY MEASURES

During the last debt ceiling debate in 2011, my colleague Jason Fichtner and I listed all the assets that Treasury could tap into to avoid a default until an agreement between the president and Congress be reached.[xxi] We updated this report in 2013.[xxii] At the time we explained that Treasury was expected to collect $2.6 trillion in revenue. We wrote:

That alone would be enough to cover interest on the debt ($218 billion), thereby avoiding any technical default of the US government on its debt obligations to Social Security ($809 billion), Medicare ($581 billion), and Medicaid ($267 billion), and it would leave approximately $725 billion for other priorities.

In addition, we noted that the Treasury Department had financial measures at its disposal to fund government operations temporarily without having to issue new debt. To be clear, our list was only meant to present the range of possible options available to Congress. But, as we noted then, those may not be good or desirable options.

These assets totaled $1.9 trillion and included $50.2 billion in nonrestricted cash on hand,[xxiii] $121.1 billion in restricted cash and other monetary assets (gold, international monetary assets, foreign currency),[xxiv] and the redemption of existing investments in other trust funds.[xxv]

We also noted that the government could rely on the determination of a “debt issuance suspension period.” This determination would permit the redemption of existing, and the suspension of new, investments of the Civil Service Retirement and Disability Fund (CSRDF).[xxvi] Right now there is $858.7 billion intergovernmental holdings in the CSRDF.

In March 2017, the numbers will be different, but the same assets may be used to avoid a default. Relying on any of these sources of funds or increasing the debt ceiling without reducing existing budget commitments illustrates the irresponsible path the country is on and the urgent need for institutional spending reform. Nonetheless, these assets could be used as a temporary measure to allow Congress and the administration to negotiate spending reductions and institutional reforms to the budget process to ensure the nation is put back on a sound fiscal path.

Thank you. I am happy to take your questions.

[i] Congressional Research Service, “The Debt Limit: History and Recent Increases,” October 1, 2015, 5.

[ii] Ibid, 11.

[iii] Veronique de Rugy, “Budget Deal Is Business-as-Usual in Washington,” Mercatus Center at George Mason University, November 18, 2015.

[iv] Congressional Budget Office, “The Budget and Economic Outlook: 2016 to 2026,” January 2016, 4.

[v] Congressional Budget Office, “Updated Budget Projections: Fiscal Years 2013 to 2023,” May 2013.

[vi] Veronique de Rugy, “Policy Implications of the S&P Warnings,” The Corner, National Review, July 22, 2011. Also see Jeannette Neumann, “Fitch Unveils Two Possible Routes to Downgrading US Debt Rating,” Wall Street Journal, January 15, 2013.

[vii] David M. Primo, “Constitution Is Only Way to Cut US Deficit,” Bloomberg Business, February 24, 2011.

[viii] David M. Primo, “Making Budget Rules Bite” (Mercatus on Policy, Mercatus Center at George Mason University, Arlington, VA, March 2010).

[ix] Veronique de Rugy, “Budget Gimmicks or the Destructive Art of Creative Accounting” (Mercatus Working Paper, Mercatus Center at George Mason University, Arlington, VA, June 2010).

[x] Veronique de Rugy and David Bieler, “Is PAYGO a No-Go?” (Mercatus on Policy, Mercatus Center at George Mason University, Arlington, VA, April 2010).

xi] Jerry Brito, “The BRAC Model for Spending Reform” (Mercatus on Policy, Mercatus Center at George Mason University, Arlington, VA, February 2010).

[xii] Veronique de Rugy, “The Effect of Tax Increases and Spending Cuts on Economic Growth” (Testimony before the Senate Committee on the Budget, Mercatus Center at George Mason University, Arlington, VA, May 22, 2013).

[xiii] Chris Edwards and Tad DeHaven, “War Between Generations: Federal Spending on the Elderly Set to Explode” (Policy Analysis No. 488, Cato Institute, Washington, DC, September 16, 2003).

[xiv] Robert Graboyes, “Fortress and Frontier in American Health Care” (Mercatus Research, Mercatus Center at George Mason University, Arlington, VA, October 2014).

[xv] Jason J. Fichtner and Veronique de Rugy, “The Debt Ceiling: What Is at Stake?” (Mercatus Research, Mercatus Center at George Mason University, Arlington, VA, April 2011).

[xvi] Veronique de Rugy and Jason J. Fichtner, “The Debt Limit Debate” (Mercatus on Policy, Mercatus Center at George Mason University, Arlington, VA, May 2011).

[xvii] Fichtner and de Rugy, “The Debt Ceiling: What Is at Stake?”

[xviii] The Social Security Trust Funds can only be used to pay Social Security benefits. See Glenn Kessler, “Can President Obama Keep Paying Social Security Benefits Even If the Debt Ceiling Is Reached?,” Washington Post, July 13, 2011; Contract with America Advancement Act of 1996, Pub. L. No. 104-121 (1996).

[xix] US Government Accountability Office, Letter to Senator Bob Packwood, October 9, 1985.

[xx] Department of the Treasury, Office of Inspector General, Letter to Senator Orrin G. Hatch, OIG-CA-12-006, August 24, 2012.

[xxi] Fichtner and de Rugy, “The Debt Ceiling: What Is at Stake?”

[xxii] Jason J. Fichtner and Veronique de Rugy, “The Debt Ceiling: Assets Available to Prevent Default” (Mercatus Research, Mercatus Center at George Mason University, Arlington, VA, January 2013).

[xxiii] Department of the Treasury, “Daily Treasury Statement,” January 14, 2013.

[xxiv] Department of the Treasury, 2012 Financial Report of the US Government, 65. At the time, the Treasury owned approximately 261.4 million ounces of gold and marked the value of its gold holdings at $42 per ounce, giving a reported value of $11.1 billion. At a spot market price of $1,500 per ounce, Treasury’s gold holdings could be valued near $400 billion.

[xxv] Department of the Treasury, “Monthly Statement of the Public Debt of the United States,” December 31, 2015.

[xxvi] In September 1985, the Treasury took the step of disinvesting the Civil Service Retirement and Disability Trust Fund, the Social Security Trust Funds, and several smaller trust funds.

I HAD THE OPPORTUNITY TO CORESPONDENT WITH WALTER WILLIAMS AND I LEARNED MUCH FROM HIM AND HE IS RIGHT THAT CONGRESS IS GOING AGAINST JAMES MADISON’S WARNING:

Walter E. Williams - A MINORITY VIEW
Walter E. Williams is a professor of economics at George Mason University.

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.”

No doubt some congressmen, academics, hustlers and ignorant people will argue that the general welfare clause of the U.S. Constitution authorizes today’s spending. That is simply unadulterated nonsense. Thomas Jefferson wrote, “Congress (has) not unlimited powers to provide for the general welfare, but (is) restrained to those specifically enumerated.” Madison wrote that “if Congress can do whatever in their discretion can be done by money, and will promote the general welfare, the Government is no longer a limited one possessing enumerated powers, but an indefinite one.” In other words, the general welfare clause authorized Congress to spend money only to carry out the powers and duties specifically enumerated in Article 1, Section 8 and elsewhere in the Constitution, not to meet the infinite needs of the general welfare.

We cannot blame politicians for the spending that places our nation in peril. Politicians are doing precisely what the American people elect them to office to do — namely, use the power of their office to take the rightful property of other Americans and deliver it to them. It would be political suicide for a president or a congressman to argue as Madison did that Congress has no right to expend “on objects of benevolence” the money of its constituents and that “charity is no part of the legislative duty of the government.” It’s unreasonable of us to expect any politician to sabotage his career by living up to his oath of office to uphold and defend our Constitution. That means that if we are to save our nation from the economic and social chaos that awaits us, we the people must have a moral reawakening and eschew what is no less than legalized theft, the taking from one American for the benefit of another.

I know that some people will say, “Williams, I agree with most of what you say, but not when it comes to Social Security. Social Security is my money I had taken out of my pay for retirement.” If you think that, you’ve been duped. The only way you get a Social Security check is for Congress to take the earnings of a worker. Explanation of your duping can be found on my website, in a 2010 article I wrote titled “Washington’s Lies.”

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.

A.F. Branco for Oct 21, 2021

 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.

Andy Harris
Andy Harris 115th Congress (cropped).jpg
Member of the U.S. House of Representatives
from Maryland‘s 1st district
Assumed office
January 3, 2011
Preceded by Frank Kratovil
Member of the Maryland Senate
In office
1999 – January 3, 2011
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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Longstanding Anti‐​Price Gouging Statutes Worsen Shortages 

By Ryan Bourne and Brad Subramaniam

Anti‐​price gouging laws prolonged shortages of certain goods that were in high demand early in the pandemic. Some analysis suggests these laws even worsened public health outcomes, because ongoing shortages of, say, hand sanitizer and toilet paper, led to consumers in states with these regulations searching for them more at physical retailers, actually increasing transmission of the virus.

But there’s an interesting question that’s often underexplored in regard to these laws: how does the expectation that these price controls will be triggered shape people’s beliefs about products’ availability and so customer search behavior?

That’s the topic of another fascinating new paper by economists Rik Chakraborti and Gavin Roberts. Using data for online searches for hand sanitizer and toilet paper across states, they harness the variation in when laws were introduced to research the question: is consumer search behaviour different in states with new anti‐​price gouging legislation introduced during the pandemic from states with pre‐​existing anti‐​price gouging laws?

Economic theory would suggest that any anti‐​price gouging legislation, whenever introduced, would lead to more consumer search for goods, due to the induced shortages. And, sure enough, after controlling for the effects of lockdowns, rising infections, and declines in travel which plagued the early stages of the pandemic, consumers in states with anti‐​price gouging laws were significantly more likely to search online for toilet paper and hand sanitizer than those in states without such laws.

More searching presumably reflects higher levels of hoarding and panic‐​buying creating the shortages—after all, having to resort to online shopping for goods that are commonly bought in stores means the local grocery or drug store has probably been emptied already.

But theory would also suggest that customers in states with past experience of anti‐​price gouging laws might search even more intensely, because people come to expect shortages again when crises hit. In other words, those who have experienced shortages before might be more likely to hoard and panic buy this time around, leading to even higher online search than in situations where new laws are introduced for the first time.

Again, Chakraborti and Roberts’ paper suggests economic theory is correct. States with anti‐​price gouging regulations on the books before the pandemic saw Google Shopping searches for hand sanitizer jump by 153 percent and toilet paper searches nearly double (a 99 percent increase) relative to states without anti‐​price gouging laws. This uplift was much larger than in states where the laws were introduced during the pandemic (100 percent and 46 percent, respectively).

The long and short is that consumers in states with pre‐​existing price controls searched most intensely online for hand sanitizer and toilet paper. This suggests customers learned from previous experience of these price regulations’ effects, with the higher search levels reflecting greater hoarding and panic buying in anticipation of shortages to come. As the authors state, this implies that longstanding anti‐​price gouging legislation is even worse for economic welfare than we might think. The anticipation of shortages actually compounds shortages as consumers become more “experienced,” with excessive and fruitless searching for products the wasteful result.

For more on the basics of anti‐​price gouging legislation in the pandemic, see my book Economics In One Virus. Other Cato pieces can be found here, here, and here.

 

Government, Markets, and the Supply Chain

Way back in 2009, I shared a meme that succinctly summarizes how Washington operates.

It’s basically a version of Mitchell’s Law. To elaborate, governments cause problems and politicians then use those problems as an excuse to make government even bigger.

Lather, rinse, repeat.

I worry the same thing may be about to happen because of the current concern about “supply chain” issues, perhaps best illustrated by the backlog of ships at key ports, leading to shortages of key goods.

Some of this mess is fallout from the coronavirus pandemic, but it’s being exacerbated by bad policy.

In a column for Reason, J.D. Tuccille points out that government is the problem, not the solution.

…supply-chain issues…create shortages and push prices up around the world. …Lockdowns also changed people’s lives, closing offices and factories and confining people at home. That resulted in massive and unpredictable shifts in demand and unreliable supply. …”Market economies tend to be pretty good at getting food on the supermarket shelves and fuel in petrol stations, if left to themselves,” agrees Pilkington. “That last part is key: if left to themselves. Heavy-handed interference in market economies tends to produce the same pathologies we see in socialist economies, including shortages and inflation. That has been the unintended consequence of lockdown.” …The danger is that people see economic problems caused by earlier fiddling and then demand even more government intervention. …if the government were to further meddle in the market to allocate products made scarce by earlier actions, it’s hard to see how the result wouldn’t be anything other than increased supply chain chaos.

Allysia Finley opines for the Wall Street Journal about California’s role in the supply-chain mess.

The backup of container ships at the Long Beach and Los Angeles ports has grown in recent weeks… The two Southern California ports handle only about 40% of containers entering the U.S., mostly from Asia. Yet ports in other states seem to be handling the surge better. Gov. Ron DeSantis said last month that Florida’s seaports had open capacity.So what’s the matter with California? State labor and environmental policies. …business groups recently asked Gov. Gavin Newsom to declare a state of emergency and suspend labor and environmental laws that are interfering with the movement of goods. …One barrier is a law known as AB5. …Trucking companies warned that the law could put small carriers out of business and cause drivers to leave the state. …there’s little doubt the law hinders efficiency and productivity. …State officials have also pressed localities to attach green mandates to permits for new warehouses, which can be poison pills. …This boatload of regulations is making it more expensive and difficult to store goods arriving at California ports.

Needless to say, I’m not surprised California is making things worse.

The state seems to have some of the nation’s worst politicians.

But let’s set that aside and close with some discussion about one of the differences between government and the private sector.

This may surprise some readers, but people and businesses in the private sector make mistakes all the time.

So part of the supply-chain mess presumably is a result of companies and entrepreneurs making bad guesses.

That being said, there’s a big feedback mechanism in the private sector. It’s called profit and loss.

So when mistakes are made, there’s a big incentive to quickly change.

With government, by contrast, there’s very little flexibility (as we saw during the pandemic). And when politicians and bureaucrats do act, they often respond to political incentives that lead them to make things worse.

 

Big-Government Republicans Enable Big-Government Democrats

I get asked why I frequently criticize Republicans.

My response is easy. I care about results rather than rhetoric. And while GOP politicians often pay lip service to the principles of limited government,they usually increase spending even faster than Democrats.

Indeed, Republicans are even worse than Democrats when measuring the growth of domestic spending!

This is bad news because it means the burden of government expands when Republicans are in charge.

And, as Gary Abernathy points out in a column for the Washington Post, Republicans then don’t have the moral authority to complain when Democrats engage in spending binges.

President Biden is proposing another $3 trillion in spending… There are objections, but none that can be taken seriously. …Republicans had lost their standing as the party of fiscal responsibility when most of them succumbed to the political virus of covid fever and rubber-stamped around $4 trillion in “covid relief,”… With Trump out and Biden in, Republicans suddenly pretended that their 2020 spending spree happened in some alternate universe.But the GOP’s united opposition to Biden’s $1.9 trillion package won’t wash off the stench of the hypocrisy. …I noted a year ago that we had crossed the Rubicon, that our longtime flirtation with socialism had become a permanent relationship. Congratulations, Bernie Sanders. The GOP won’t become irrelevant because of its association with Trump, as some predict. It will diminish because it is bizarrely opposing now that which it helped make palatable just last year. Fiscal responsibility is dead, and Republicans helped bury it. Put the shovels away, there’s no digging it up now.

For what it’s worth, I hope genuine fiscal responsibility isn’t dead.

Maybe it’s been hibernating ever since Reagan left office (like Pepperidge Farm, I’m old enough to remember those wonderful years).

Subsequent Republican presidents liked to copy Reagan’s rhetoric, but they definitely didn’t copy his policies.

  • Spending restraint was hibernating during the presidency of George H.W. Bush.
  • Spending restraint also was hibernating during the presidency of George W. Bush.
  • And spending restraint was hibernating during the presidency of Donald Trump.

I’m not the only one to notice GOP hypocrisy.

Here are some excerpts from a 2019 column in the Washington Post by Fareed Zakaria.

In what Republicans used to call the core of their agenda — limited government — Trump has been profoundly unconservative. …Trump has now added more than $88 billion in taxes in the form of tariffs, according to the right-leaning Tax Foundation. (Despite what the president says, tariffs are taxes on foreign goods paid by U.S. consumers.) This has had the effect of reducing gross domestic product and denting the wages of Americans.…For decades, conservatives including Margaret Thatcher and Ronald Reagan preached to the world the virtues of free trade. But perhaps even more, they believed in the idea that governments should not pick winners and losers in the economy… Yet the Trump administration…behaved like a Central Planning Agency, granting exemptions on tariffs to favored companies and industries, while refusing them to others. …In true Soviet style, lobbyists, lawyers and corporate executives now line up to petition government officials for these treasured waivers, which are granted in an opaque process… On the core issue that used to define the GOP — economics — the party’s agenda today is state planning and crony capitalism.

Zakaria is right about Republicans going along with most of Trump’s bad policies (as illustrated by this cartoon strip).*

The bottom line is that Republicans would be much more effective arguing against Biden’s spending orgy had they also argued for spending restraint when Trump was in the White House.

P.S. It will be interesting to see what happens in the near future. Will the GOP be a small-government Reagan party or a big-government Trump party?

Or maybe it will go back to being a Nixon-type party, which would mean bigger government but without mean tweets. And there are plenty of options.

If they make the wrong choice (anything other than Reaganism), Margaret Thatcher has already warned us about the consequences.

*To be fair, Republicans also went along with Trump’s good policies. It’s just unfortunate that spending restraint wasn’t one of them.

—-

March 31, 2021

President Biden  c/o The White House
1600 Pennsylvania Avenue NW
Washington, DC 20500

Dear Mr. President,

Please explain to me if you ever do plan to balance the budget while you are President? I have written these things below about you and I really do think that you don’t want to cut spending in order to balance the budget. It seems you ever are daring the Congress to stop you from spending more.

President Barack Obama speaks about the debt limit in the East Room of the White House in Washington. | AP Photo

 

“The credit of the United States ‘is not a bargaining chip,’ Obama said on 1-14-13. However, President Obama keeps getting our country’s credit rating downgraded as he raises the debt ceiling higher and higher!!!!

Washington Could Learn a Lot from a Drug Addict

Just spend more, don’t know how to cut!!! Really!!! That is not living in the real world is it?

Making more dependent on government is not the way to go!!

Why is our government in over 16 trillion dollars in debt? There are many reasons for this but the biggest reason is people say “Let’s spend someone else’s money to solve our problems.” Liberals like Max Brantley have talked this way for years. Brantley will say that conservatives are being harsh when they don’t want the government out encouraging people to be dependent on the government. The Obama adminstration has even promoted a plan for young people to follow like Julia the Moocher.  

David Ramsey demonstrates in his Arkansas Times Blog post of 1-14-13 that very point:

Arkansas Politics / Health Care Arkansas’s share of Medicaid expansion and the national debt

Posted by on Mon, Jan 14, 2013 at 1:02 PM

Baby carrot Arkansas Medicaid expansion image

 

Imagine standing a baby carrot up next to the 25-story Stephens building in Little Rock. That gives you a picture of the impact on the national debt that federal spending in Arkansas on Medicaid expansion would have, while here at home expansion would give coverage to more than 200,000 of our neediest citizens, create jobs, and save money for the state.

Here’s the thing: while more than a billion dollars a year in federal spending would represent a big-time stimulus for Arkansas, it’s not even a drop in the bucket when it comes to the national debt.

Currently, the national debt is around $16.4 trillion. In fiscal year 2015, the federal government would spend somewhere in the neighborhood of $1.2 billion to fund Medicaid expansion in Arkansas if we say yes. That’s about 1/13,700th of the debt.

It’s hard to get a handle on numbers that big, so to put that in perspective, let’s get back to the baby carrot. Imagine that the height of the Stephens building (365 feet) is the $16 trillion national debt. That $1.2 billion would be the length of a ladybug. Of course, we’re not just talking about one year if we expand. Between now and 2021, the federal government projects to contribute around $10 billion. The federal debt is projected to be around $25 trillion by then, so we’re talking about 1/2,500th of the debt. Compared to the Stephens building? That’s a baby carrot.

______________

Here is how it will all end if everyone feels they should be allowed to have their “baby carrot.”

How sad it is that liberals just don’t get this reality.

Here is what the Founding Fathers had to say about welfare. David Weinberger noted:

While living in Europe in the 1760s, Franklin observed: “in different countries … the more public provisions were made for the poor, the less they provided for themselves, and of course became poorer. And, on the contrary, the less was done for them, the more they did for themselves, and became richer.”

Alexander Fraser Tytler, Lord Woodhouselee (15 October 1747 – 5 January 1813) was a Scottish lawyer, writer, and professor. Tytler was also a historian, and he noted, “A democracy cannot exist as a permanent form of government. It can only exist until the majority discovers it can vote itself largess out of the public treasury. After that, the majority always votes for the candidate promising the most benefits with the result the democracy collapses because of the loose fiscal policy ensuing, always to be followed by a dictatorship, then a monarchy.”

Thomas Jefferson to Joseph Milligan

April 6, 1816

[Jefferson affirms that the main purpose of society is to enable human beings to keep the fruits of their labor. — TGW]

To take from one, because it is thought that his own industry and that of his fathers has acquired too much, in order to spare to others, who, or whose fathers have not exercised equal industry and skill, is to violate arbitrarily the first principle of association, “the guarantee to every one of a free exercise of his industry, and the fruits acquired by it.” If the overgrown wealth of an individual be deemed dangerous to the State, the best corrective is the law of equal inheritance to all in equal degree; and the better, as this enforces a law of nature, while extra taxation violates it.

[From Writings of Thomas Jefferson, ed. Albert E. Bergh (Washington: Thomas Jefferson Memorial Association, 1904), 14:466.]

_______

Jefferson pointed out that to take from the rich and give to the poor through government is just wrong. Franklin knew the poor would have a better path upward without government welfare coming their way. Milton Friedman’s negative income tax is the best method for doing that and by taking away all welfare programs and letting them go to the churches for charity.

_____________

_________

Thank you so much for your time. I know how valuable it is. I also appreciate the fine family that you have and your commitment as a father and a husband.

Sincerely,

Everette Hatcher III, 13900 Cottontail Lane, Alexander, AR 72002, ph 501-920-5733

Williams with Sowell – Minimum Wage

Thomas Sowell

Thomas Sowell – Reducing Black Unemployment

By WALTER WILLIAMS

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Ronald Reagan with Milton Friedman
Milton Friedman The Power of the Market 2-5

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Welfare Spending Shattering All-Time Highs

  We got to act fast and get off this path of socialism. Morning Bell: Welfare Spending Shattering All-Time Highs Robert Rector and Amy Payne October 18, 2012 at 9:03 am It’s been a pretty big year for welfare—and a new report shows welfare is bigger than ever. The Obama Administration turned a giant spotlight […]

We need more brave souls that will vote against Washington welfare programs

We need to cut Food Stamp program and not extend it. However, it seems that people tell the taxpayers back home they are going to Washington and cut government spending but once they get up there they just fall in line with  everyone else that keeps spending our money. I am glad that at least […]

Welfare programs are not the answer for the poor

Government Must Cut Spending Uploaded by HeritageFoundation on Dec 2, 2010 The government can cut roughly $343 billion from the federal budget and they can do so immediately. __________ Liberals argue that the poor need more welfare programs, but I have always argued that these programs enslave the poor to the government. Food Stamps Growth […]

Private charities are best solution and not government welfare

Milton Friedman – The Negative Income Tax Published on May 11, 2012 by LibertyPen In this 1968 interview, Milton Friedman explained the negative income tax, a proposal that at minimum would save taxpayers the 72 percent of our current welfare budget spent on administration. http://www.LibertyPen.com Source: Firing Line with William F Buckley Jr. ________________ Milton […]

The book “After the Welfare State”

Dan Mitchell Commenting on Obama’s Failure to Propose a Fiscal Plan Published on Aug 16, 2012 by danmitchellcato No description available. ___________ After the Welfare State Posted by David Boaz Cato senior fellow Tom G. Palmer, who is lecturing about freedom in Slovenia and Tbilisi this week, asked me to post this announcement of his […]

President Obama responds to Heritage Foundation critics on welfare reform waivers

Is President Obama gutting the welfare reform that Bill Clinton signed into law? Morning Bell: Obama Denies Gutting Welfare Reform Amy Payne August 8, 2012 at 9:15 am The Obama Administration came out swinging against its critics on welfare reform yesterday, with Press Secretary Jay Carney saying the charge that the Administration gutted the successful […]

Welfare reform part 3

Thomas Sowell – Welfare Welfare reform was working so good. Why did we have to abandon it? Look at this article from 2003. The Continuing Good News About Welfare Reform By Robert Rector and Patrick Fagan, Ph.D. February 6, 2003 Six years ago, President Bill Clinton signed legislation overhauling part of the nation’s welfare system. […]

Welfare reform part 2

Uploaded by ForaTv on May 29, 2009 Complete video at: http://fora.tv/2009/05/18/James_Bartholomew_The_Welfare_State_Were_In Author James Bartholomew argues that welfare benefits actually increase government handouts by ‘ruining’ ambition. He compares welfare to a humane mousetrap. —– Welfare reform was working so good. Why did we have to abandon it? Look at this article from 2003. In the controversial […]

Why did Obama stop the Welfare Reform that Clinton put in?

Thomas Sowell If the welfare reform law was successful then why change it? Wasn’t Bill Clinton the president that signed into law? Obama Guts Welfare Reform Robert Rector and Kiki Bradley July 12, 2012 at 4:10 pm Today, the Obama Department of Health and Human Services (HHS) released an official policy directive rewriting the welfare […]

“Feedback Friday” Letter to White House generated form letter response July 10,2012 on welfare, etc (part 14)

I have been writing President Obama letters and have not received a personal response yet.  (He reads 10 letters a day personally and responds to each of them.) However, I did receive a form letter in the form of an email on July 10, 2012. I don’t know which letter of mine generated this response so I have […]

OPEN LETTER TO REPUBLICAN SENATOR WHO PLEDGED NOT TO HELP DEMOCRATS RAISE THE DEBT CEILING BUT DID IT ON DECEMBER 10, 2021 WHEN 14 REPUBLICANS WHO SAID THEY DON’T APPROVE OF THE GOVERNMENT BORROWING 40% OF WHAT THEY SPEND VOTED A WAY FOR DEMOCRATS TO DO JUST THAT!!!! Part 11 Senator Rob Portman of Ohio

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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 Rob Portman of Ohio
United States Senate
Washington, D.C. 20510

Dear Senator Portman,

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!!!

Your vote to help the Democrats jump over the debt ceiling limit hurdle reminded me of this cartoon:

A.F. BRANCO December 10, 2021

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

Senate Minority Leader Mitch McConnell speaks during the a news conference in the Capitol on Tuesday, Nov. 30, 2021. Behind McConnell, from left, are Sens. John Barrasso, R-Wyo., John Thune, R-S.D., and Joni Ernst, R-Iowa. (Bill Clark/CQ Roll Call)
Senate Minority Leader Mitch McConnell speaks during the a news conference in the Capitol on Tuesday, Nov. 30, 2021. Behind McConnell, from left, are Sens. John Barrasso, R-Wyo., John Thune, R-S.D., and Joni Ernst, R-Iowa. (Bill Clark/CQ Roll Call)

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.”

“The proposal I worked on with Leader McConnell will allow Democrats to do precisely what we’ve been seeking to do for months… provide a simple majority vote to fix the debt ceiling without having to resort to a convoluted, lengthy and ultimately risky process,” Schumer said.

McConnell began drawing battle lines over the debt limit this summer, alerting Democrats that Republicans didn’t intend to cooperate on any debt limit bill unless Democrats stopped work on their roughly $2 trillion climate and social spending reconciliation bill. If they continued to work on that package, he said, they should use the same fast-track budget reconciliation process to advance a debt limit bill.

Democrats vowed not to use the reconciliation process for the debt limit or to stop work on their tax and spending package. The intransigence placed Congress in a deadlock over the debt limit as the Treasury Department inched closer to running out of money to pay all of the country’s bills in October.

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.

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!!!

Milton Friedman and “Zero Cost” Expanded Government

By:

Richard McKenzie

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).

HERE ARE SOME SUGGESTIONS YOU HAVE IGNORED:

The Solution to the Debt Ceiling Debacle

Fundamental spending reform needed.

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Deficits are also going to go up to $544 billion from last year’s $439 billion. Over the coming decade, the size of the federal deficit will double to reach an annual gap of almost 5 percent of GDP. CBO predicts that deficits will total $9.4 trillion. That’s up $1.5 trillion from its August report. It also notes that under the alternative scenario budget projection, spending will increase to 21.9 percent of GDP in 2020, to 25.8 percent in 2030, and to 30.4 percent in 2040.

The expansion of mandatory programs—such as Medicare, Medicaid, Affordable Care Act subsidies, and Social Security—is the driving force behind this spending growth and our exploding debt. These entitlements will trigger even higher levels of debt in the years outside the 10-year budget window.

Unfortunately, as the debt grows, the interest payments on that debt will grow as well. If the United States does not change course, interest on the debt will end up as one of its biggest budget items. Our unfunded liabilities keep going up, too. The net present value of the promises made to the American people for which the United States does not have the money to pay is roughly $75.5 trillion, according to the Treasury Department.

High debt levels are problematic. As CBO explained a few years ago:

Such high and rising debt later in the coming decade would have serious negative consequences: When interest rates return to higher (more typical) levels, federal spending on interest payments would increase substantially. Moreover, because federal borrowing reduces national saving, over time the capital stock would be smaller and total wages would be lower than they would be if the debt was reduced. In addition, lawmakers would have less flexibility than they would have if debt levels were lower to use tax and spending policy to respond to unexpected challenges. Finally, a large debt increases the risk of a fiscal crisis, during which investors would lose so much confidence in the government’s ability to manage its budget that the government would be unable to borrow at affordable rates.[v]

These numbers are important to keep in mind when discussing the next debt ceiling deadline. Indeed, when March 2017 comes around we can expect that Washington will once again have the same debate it has had for the last few years about whether or not to raise the debt ceiling and under what circumstances. On one side you will find those who want to raise the limit without questions asked. On the other side, you will find those who will demand reforms in exchange for yet another increase in the debt ceiling.

Continuing to pass debt ceiling increases without proper spending reforms would be irresponsible. It is also irresponsible to signal to the international community that the US government could possibly default on its debt obligations while Washington works through whether it will raise the debt limit before or after it formulates a plan to reduce government spending.

Walter E. Williams - A MINORITY VIEW
Walter E. Williams is a professor of economics at George Mason University.

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.”

No doubt some congressmen, academics, hustlers and ignorant people will argue that the general welfare clause of the U.S. Constitution authorizes today’s spending. That is simply unadulterated nonsense. Thomas Jefferson wrote, “Congress (has) not unlimited powers to provide for the general welfare, but (is) restrained to those specifically enumerated.” Madison wrote that “if Congress can do whatever in their discretion can be done by money, and will promote the general welfare, the Government is no longer a limited one possessing enumerated powers, but an indefinite one.” In other words, the general welfare clause authorized Congress to spend money only to carry out the powers and duties specifically enumerated in Article 1, Section 8 and elsewhere in the Constitution, not to meet the infinite needs of the general welfare.

We cannot blame politicians for the spending that places our nation in peril. Politicians are doing precisely what the American people elect them to office to do — namely, use the power of their office to take the rightful property of other Americans and deliver it to them. It would be political suicide for a president or a congressman to argue as Madison did that Congress has no right to expend “on objects of benevolence” the money of its constituents and that “charity is no part of the legislative duty of the government.” It’s unreasonable of us to expect any politician to sabotage his career by living up to his oath of office to uphold and defend our Constitution. That means that if we are to save our nation from the economic and social chaos that awaits us, we the people must have a moral reawakening and eschew what is no less than legalized theft, the taking from one American for the benefit of another.

I know that some people will say, “Williams, I agree with most of what you say, but not when it comes to Social Security. Social Security is my money I had taken out of my pay for retirement.” If you think that, you’ve been duped. The only way you get a Social Security check is for Congress to take the earnings of a worker. Explanation of your duping can be found on my website, in a 2010 article I wrote titled “Washington’s Lies.”

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.

A.F. Branco for Oct 21, 2021

 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.

Andy Harris
Andy Harris 115th Congress (cropped).jpg
Member of the U.S. House of Representatives
from Maryland‘s 1st district
Assumed office
January 3, 2011
Preceded by Frank Kratovil
Member of the Maryland Senate
In office
1999 – January 3, 2011
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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Sixty Six who resisted “Sugar-coated Satan Sandwich” Debt Deal (Part 48)

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Sixty Six who resisted “Sugar-coated Satan Sandwich” Debt Deal (Part 47)

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Sixty Six who resisted “Sugar-coated Satan Sandwich” Debt Deal (Part 46)

  Sixty Six who resisted “Sugar-coated Satan Sandwich” Debt Deal (Part 46) 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, […]

Sixty Six who resisted “Sugar-coated Satan Sandwich” Debt Deal (Part 45)

Sixty Six who resisted “Sugar-coated Satan Sandwich” Debt Deal (Part 45) 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 […]

Sixty Six who resisted “Sugar-coated Satan Sandwich” Debt Deal (Part 44)

Sixty Six who resisted “Sugar-coated Satan Sandwich” Debt Deal (Part 44) 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 […]

Sixty Six who resisted “Sugar-coated Satan Sandwich” Debt Deal (Part 43)

Sixty Six who resisted “Sugar-coated Satan Sandwich” Debt Deal (Part 43) 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 […]

Sixty Six who resisted “Sugar-coated Satan Sandwich” Debt Deal (Part 42)

Sixty Six who resisted “Sugar-coated Satan Sandwich” Debt Deal (Part 42) 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 […]

Sixty Six who resisted “Sugar-coated Satan Sandwich” Debt Deal (Part 41)

Sixty Six who resisted “Sugar-coated Satan Sandwich” Debt Deal (Part 41) 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 […]

Sixty Six who resisted “Sugar-coated Satan Sandwich” Debt Deal (Part 40)

Sixty Six who resisted “Sugar-coated Satan Sandwich” Debt Deal (Part 40) 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 […]

Sixty Six who resisted “Sugar-coated Satan Sandwich” Debt Deal (Part 39)

Sixty Six who resisted “Sugar-coated Satan Sandwich” Debt Deal (Part 39) 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 […]

Sixty Six who resisted “Sugar-coated Satan Sandwich” Debt Deal (Part 38)

Sixty Six who resisted “Sugar-coated Satan Sandwich” Debt Deal (Part 38) 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 […]

Sixty Six who resisted “Sugar-coated Satan Sandwich” Debt Deal (Part 37)

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 […]

Sixty Six who resisted “Sugar-coated Satan Sandwich” Debt Deal (Part 36)

Sixty Six who resisted “Sugar-coated Satan Sandwich” Debt Deal (Part 36) 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 […]

Sixty Six who resisted “Sugar-coated Satan Sandwich” Debt Deal (Part 35)

Sixty Six who resisted “Sugar-coated Satan Sandwich” Debt Deal (Part 35) 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 […]

Sixty Six who resisted “Sugar-coated Satan Sandwich” Debt Deal (Part 34)

Sixty Six who resisted “Sugar-coated Satan Sandwich” Debt Deal (Part 34) 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 […]

Sixty Six who resisted “Sugar-coated Satan Sandwich” Debt Deal (Part 33)

Sixty Six who resisted “Sugar-coated Satan Sandwich” Debt Deal (Part 33) 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 […]

Sixty Six who resisted “Sugar-coated Satan Sandwich” Debt Deal (Part 32)

Sixty Six who resisted “Sugar-coated Satan Sandwich” Debt Deal (Part 32) 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 […]

Sixty Six who resisted “Sugar-coated Satan Sandwich” Debt Deal (Part 31)

Congressmen Tim Huelskamp on the debt ceiling Sixty Six who resisted “Sugar-coated Satan Sandwich” Debt Deal (Part 31) 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 […]

Sixty Six who resisted “Sugar-coated Satan Sandwich” Debt Deal (Part 30)

Sixty Six who resisted “Sugar-coated Satan Sandwich” Debt Deal (Part 30) 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 […]

The Sixty Six who resisted “Sugar-coated Satan Sandwich” Debt Deal (Part 29)

 Sixty Six who resisted “Sugar-coated Satan Sandwich” Debt Deal (Part 29) 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 […]

The Sixty Six who resisted “Sugar-coated Satan Sandwich” Debt Deal (Part 28)

The Sixty Six who resisted “Sugar-coated Satan Sandwich” Debt Deal (Part 28) 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, […]

The Sixty Six who resisted “Sugar-coated Satan Sandwich” Debt Deal (Part 27)

The Sixty Six who resisted “Sugar-coated Satan Sandwich” Debt Deal (Part 27) 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, […]

The Sixty Six who resisted “Sugar-coated Satan Sandwich” Debt Deal (Part 26)

The Sixty Six who resisted “Sugar-coated Satan Sandwich” Debt Deal (Part 26) 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, […]

The Sixty Six who resisted “Sugar-coated Satan Sandwich” Debt Deal (Part 25)

Uploaded by RepJoeWalsh on Jun 14, 2011 Our country’s debt continues to grow — it’s eating away at the American Dream. We need to make real cuts now. We need Cut, Cap, and Balance. The Sixty Six who resisted “Sugar-coated Satan Sandwich” Debt Deal (Part 25) This post today is a part of a series […]

The Sixty Six who resisted “Sugar-coated Satan Sandwich” Debt Deal (Part 23)

The Sixty Six who resisted “Sugar-coated Satan Sandwich” Debt Deal (Part 23) 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, […]

The Sixty Six who resisted “Sugar-coated Satan Sandwich” Debt Deal (Part 22)

The Sixty Six who resisted “Sugar-coated Satan Sandwich” Debt Deal (Part 22) 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, […]

The Sixty Six who resisted “Sugar-coated Satan Sandwich” Debt Deal (Part 21)

The Sixty Six who resisted “Sugar-coated Satan Sandwich” Debt Deal (Part 21) 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, […]

The Sixty Six who resisted “Sugar-coated Satan Sandwich” Debt Deal (Part 20)

The Sixty Six who resisted “Sugar-coated Satan Sandwich” Debt Deal (Part 20) 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, […]

The Sixty Six who resisted “Sugar-coated Satan Sandwich” Debt Deal (Part 19)

The Sixty Six who resisted “Sugar-coated Satan Sandwich” Debt Deal (Part 19) 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, […]

The Sixty Six who resisted “Sugar-coated Satan Sandwich” Debt Deal (Part 18)

The Sixty Six who resisted “Sugar-coated Satan Sandwich” Debt Deal (Part 18) 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, […]

The Sixty Six who resisted “Sugar-coated Satan Sandwich” Debt Deal (Part 17)

The Sixty Six who resisted “Sugar-coated Satan Sandwich” Debt Deal (Part 17) 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, […]

The Sixty Six who resisted “Sugar-coated Satan Sandwich” Debt Deal (Part 16)

The Sixty Six who resisted “Sugar-coated Satan Sandwich” Debt Deal (Part 16) 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, […]

OPEN LETTER TO REPUBLICAN SENATOR WHO PLEDGED NOT TO HELP DEMOCRATS RAISE THE DEBT CEILING BUT DID IT ON DECEMBER 10, 2021 WHEN 14 REPUBLICANS WHO SAID THEY DON’T APPROVE OF THE GOVERNMENT BORROWING 40% OF WHAT THEY SPEND VOTED A WAY FOR DEMOCRATS TO DO JUST THAT!!!! Part 10 Senator Joni Ernst of Iowa

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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 Joni Ernst of Iowa
United States Senate
Washington, D.C. 20510

Dear Senator Ernst,

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

Senate Minority Leader Mitch McConnell speaks during the a news conference in the Capitol on Tuesday, Nov. 30, 2021. Behind McConnell, from left, are Sens. John Barrasso, R-Wyo., John Thune, R-S.D., and Joni Ernst, R-Iowa. (Bill Clark/CQ Roll Call)
Senate Minority Leader Mitch McConnell speaks during the a news conference in the Capitol on Tuesday, Nov. 30, 2021. Behind McConnell, from left, are Sens. John Barrasso, R-Wyo., John Thune, R-S.D., and Joni Ernst, R-Iowa. (Bill Clark/CQ Roll Call)

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.”

“The proposal I worked on with Leader McConnell will allow Democrats to do precisely what we’ve been seeking to do for months… provide a simple majority vote to fix the debt ceiling without having to resort to a convoluted, lengthy and ultimately risky process,” Schumer said.

McConnell began drawing battle lines over the debt limit this summer, alerting Democrats that Republicans didn’t intend to cooperate on any debt limit bill unless Democrats stopped work on their roughly $2 trillion climate and social spending reconciliation bill. If they continued to work on that package, he said, they should use the same fast-track budget reconciliation process to advance a debt limit bill.

Democrats vowed not to use the reconciliation process for the debt limit or to stop work on their tax and spending package. The intransigence placed Congress in a deadlock over the debt limit as the Treasury Department inched closer to running out of money to pay all of the country’s bills in October.

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.

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!

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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!
Raise the debt ceiling!
Raise the debt ceiling!
Raise the debt ceiling again!

Back up in the Fed and we’re still super stoked
Somehow printing lots of money while we’re working remote
Still dropping IOUs in every fund yes sir
Hamilton started this place—that’s why it only goes “BURR!!!”

Prices are rising at every venue it’s bad
And for sure that dollar menu looks especially sad
Gas prices are rising, it’s getting hard for the competent
It costs an arm and a leg—where am I? The Saudi consulate?

Leaving IOUs you should give it a try son
M1 used to sink your battleship, now it’s what you use to buy one
Just say the magic word, I’ll set the printer abuzz
Charmin might run out of paper son, but guess who never does?

Raise the debt ceiling!
Raise the debt ceiling!
Raise the debt ceiling!
Raise the debt ceiling again!

Now if you examine the chart and you look close again
We borrow more than 40 cents of every dollar we spend
Nondiscretionary spending is at terrible paces!
Do you have a response? Yes! You’re racist

We should spend most on children! We should spend most on patients!
Okay—hear me out—why don’t we spend most on interest payments?
We’re playing with fire we know the end of this story!
How do you classify your incompetence? Transitory

Objects in the mirror are closer than they seem
And to a man with a printer each problem looks like a ream
But when I’m looking at the folks that we’ve elected to lead
I’m guessing that it won’t be long till we’re back saying we need to

Raise the debt ceiling!
Raise the debt ceiling!
Raise the debt ceiling!
Raise the debt ceiling again!

SADLY IT WAS JUST 10 YEARS AGO WHEN REMY WROTE ABOUT A 15 TRILLION DEBT:

LYRICS:

Raise da debt ceiling!Raise da debt ceiling!Raise da debt ceiling!Raise da debt ceiling!

14 trillion in debtbut yo we ain’t got no qualmsdroppin $100 billsand million dollar bombs

spending money we don’t havethat’s the name of the gamethey call me cumulo nimbusbecause you KNOW I make it rain

bail out all kind of carsgot all kind of whipsladies ask me how I get emI tell em STIMULUS

Social Security surplus?Oh, guess what? it’s goneI got my hands on everythinglike Dominique Strauss Kahn

ain’t got no Medicare trust fundson, that’s just absurdspending every single penny thatwe see, son, have you heard?

ain’t got no moral objectionsain’t got kind of complaintsain’t got no quantitativestatutory budget restraints

so…[CHORUS]

Yo, we up in the Fedand we living in styleSpending lots of moneywhile we sipping crystal

still making it rainand yeah it be so pleasingwait, not making it rain–we be “Quantitative Easing!”

QE1, QE2QE4, QE3Dropping IOU’sin every fund that I see

printing the cashinflating the moniescallin up China”a-yo we straight out of 20’s!”

in the clubwe be louding outwhile to the market, yeahwe be crowding out

on the beach getting tanand sipping Coronawe got a monetary plan–and it involves a lot of toner…

[CHORUS]

So if you look at the chartand examine the trendwe borrow 40 cents of everysingle dollar we spend

and non-discretionary spendingincreases every daydo you have a comment for Committee?I MAKE IT RAIN

Mr. Speaker, Mr. Speakerwould you beam me up?A Congressperson cutting spending?Couldn’t dream me up

We’re gonna defaultif we follow this road!I should have thought of this14 trillion dollars ago!

I’m the king of the linksI’m a menace at tennisI’m sticking spinnaz on my rimspicking winnaz in business

if you’re looking for some cashit’s about to get heavyI got some big ol’ piles of moneyand guess what–they shovel ready

[CHORUS]

Your vote to help the Democrats jump over the debt ceiling limit hurdle reminded me of this cartoon:

A.F. BRANCO December 10, 2021

HERE ARE SOME SUGGESTIONS YOU HAVE IGNORED:

The Solution to the Debt Ceiling Debacle

Fundamental spending reform needed.

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Walter E. Williams - A MINORITY VIEW
Walter E. Williams is a professor of economics at George Mason University.

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.”

No doubt some congressmen, academics, hustlers and ignorant people will argue that the general welfare clause of the U.S. Constitution authorizes today’s spending. That is simply unadulterated nonsense. Thomas Jefferson wrote, “Congress (has) not unlimited powers to provide for the general welfare, but (is) restrained to those specifically enumerated.” Madison wrote that “if Congress can do whatever in their discretion can be done by money, and will promote the general welfare, the Government is no longer a limited one possessing enumerated powers, but an indefinite one.” In other words, the general welfare clause authorized Congress to spend money only to carry out the powers and duties specifically enumerated in Article 1, Section 8 and elsewhere in the Constitution, not to meet the infinite needs of the general welfare.

We cannot blame politicians for the spending that places our nation in peril. Politicians are doing precisely what the American people elect them to office to do — namely, use the power of their office to take the rightful property of other Americans and deliver it to them. It would be political suicide for a president or a congressman to argue as Madison did that Congress has no right to expend “on objects of benevolence” the money of its constituents and that “charity is no part of the legislative duty of the government.” It’s unreasonable of us to expect any politician to sabotage his career by living up to his oath of office to uphold and defend our Constitution. That means that if we are to save our nation from the economic and social chaos that awaits us, we the people must have a moral reawakening and eschew what is no less than legalized theft, the taking from one American for the benefit of another.

I know that some people will say, “Williams, I agree with most of what you say, but not when it comes to Social Security. Social Security is my money I had taken out of my pay for retirement.” If you think that, you’ve been duped. The only way you get a Social Security check is for Congress to take the earnings of a worker. Explanation of your duping can be found on my website, in a 2010 article I wrote titled “Washington’s Lies.”

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.

A.F. Branco for Oct 21, 2021

 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.

Andy Harris
Andy Harris 115th Congress (cropped).jpg
Member of the U.S. House of Representatives
from Maryland‘s 1st district
Assumed office
January 3, 2011
Preceded by Frank Kratovil
Member of the Maryland Senate
In office
1999 – January 3, 2011
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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OPEN LETTER TO REPUBLICAN SENATOR WHO PLEDGED NOT TO HELP DEMOCRATS RAISE THE DEBT CEILING BUT DID IT ON DECEMBER 10, 2021 WHEN 14 REPUBLICANS WHO SAID THEY DON’T APPROVE OF THE GOVERNMENT BORROWING 40% OF WHAT THEY SPEND VOTED A WAY FOR DEMOCRATS TO DO JUST THAT!!!! Part 9 Senator John Cornyn of Texas

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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 John Cornyn of Texas
United States Senate
Washington, D.C. 20510

Dear Senator John Cornyn,

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

Senate Minority Leader Mitch McConnell speaks during the a news conference in the Capitol on Tuesday, Nov. 30, 2021. Behind McConnell, from left, are Sens. John Barrasso, R-Wyo., John Thune, R-S.D., and Joni Ernst, R-Iowa. (Bill Clark/CQ Roll Call)
Senate Minority Leader Mitch McConnell speaks during the a news conference in the Capitol on Tuesday, Nov. 30, 2021. Behind McConnell, from left, are Sens. John Barrasso, R-Wyo., John Thune, R-S.D., and Joni Ernst, R-Iowa. (Bill Clark/CQ Roll Call)

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.”

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!

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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!
Raise the debt ceiling!
Raise the debt ceiling!
Raise the debt ceiling again!

Back up in the Fed and we’re still super stoked
Somehow printing lots of money while we’re working remote
Still dropping IOUs in every fund yes sir
Hamilton started this place—that’s why it only goes “BURR!!!”

Prices are rising at every venue it’s bad
And for sure that dollar menu looks especially sad
Gas prices are rising, it’s getting hard for the competent
It costs an arm and a leg—where am I? The Saudi consulate?

Leaving IOUs you should give it a try son
M1 used to sink your battleship, now it’s what you use to buy one
Just say the magic word, I’ll set the printer abuzz
Charmin might run out of paper son, but guess who never does?

Raise the debt ceiling!
Raise the debt ceiling!
Raise the debt ceiling!
Raise the debt ceiling again!

Now if you examine the chart and you look close again
We borrow more than 40 cents of every dollar we spend
Nondiscretionary spending is at terrible paces!
Do you have a response? Yes! You’re racist

We should spend most on children! We should spend most on patients!
Okay—hear me out—why don’t we spend most on interest payments?
We’re playing with fire we know the end of this story!
How do you classify your incompetence? Transitory

Objects in the mirror are closer than they seem
And to a man with a printer each problem looks like a ream
But when I’m looking at the folks that we’ve elected to lead
I’m guessing that it won’t be long till we’re back saying we need to

Raise the debt ceiling!
Raise the debt ceiling!
Raise the debt ceiling!
Raise the debt ceiling again!

SADLY IT WAS JUST 10 YEARS AGO WHEN REMY WROTE ABOUT A 15 TRILLION DEBT:

LYRICS:

Raise da debt ceiling!Raise da debt ceiling!Raise da debt ceiling!Raise da debt ceiling!

14 trillion in debtbut yo we ain’t got no qualmsdroppin $100 billsand million dollar bombs

spending money we don’t havethat’s the name of the gamethey call me cumulo nimbusbecause you KNOW I make it rain

bail out all kind of carsgot all kind of whipsladies ask me how I get emI tell em STIMULUS

Social Security surplus?Oh, guess what? it’s goneI got my hands on everythinglike Dominique Strauss Kahn

ain’t got no Medicare trust fundson, that’s just absurdspending every single penny thatwe see, son, have you heard?

ain’t got no moral objectionsain’t got kind of complaintsain’t got no quantitativestatutory budget restraints

so…[CHORUS]

Yo, we up in the Fedand we living in styleSpending lots of moneywhile we sipping crystal

still making it rainand yeah it be so pleasingwait, not making it rain–we be “Quantitative Easing!”

QE1, QE2QE4, QE3Dropping IOU’sin every fund that I see

printing the cashinflating the moniescallin up China”a-yo we straight out of 20’s!”

in the clubwe be louding outwhile to the market, yeahwe be crowding out

on the beach getting tanand sipping Coronawe got a monetary plan–and it involves a lot of toner…

[CHORUS]

So if you look at the chartand examine the trendwe borrow 40 cents of everysingle dollar we spend

and non-discretionary spendingincreases every daydo you have a comment for Committee?I MAKE IT RAIN

Mr. Speaker, Mr. Speakerwould you beam me up?A Congressperson cutting spending?Couldn’t dream me up

We’re gonna defaultif we follow this road!I should have thought of this14 trillion dollars ago!

I’m the king of the linksI’m a menace at tennisI’m sticking spinnaz on my rimspicking winnaz in business

if you’re looking for some cashit’s about to get heavyI got some big ol’ piles of moneyand guess what–they shovel ready

[CHORUS]

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!!!

Milton Friedman and “Zero Cost” Expanded Government

By:

Richard McKenzie

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).

HERE ARE SOME SUGGESTIONS YOU HAVE IGNORED:

The Solution to the Debt Ceiling Debacle

Fundamental spending reform needed.

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Walter E. Williams - A MINORITY VIEW
Walter E. Williams is a professor of economics at George Mason University.

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.

A.F. Branco for Oct 21, 2021

 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.

Andy Harris
Andy Harris 115th Congress (cropped).jpg
Member of the U.S. House of Representatives
from Maryland‘s 1st district
Assumed office
January 3, 2011
Preceded by Frank Kratovil
Member of the Maryland Senate
In office
1999 – January 3, 2011
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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OPEN LETTER TO REPUBLICAN SENATOR WHO PLEDGED NOT TO HELP DEMOCRATS RAISE THE DEBT CEILING BUT DID IT ON DECEMBER 10, 2021 WHEN 14 REPUBLICANS WHO SAID THEY DON’T APPROVE OF THE GOVERNMENT BORROWING 40% OF WHAT THEY SPEND VOTED A WAY FOR DEMOCRATS TO DO JUST THAT!!!! Part 8 Senator Richard Burr of North Carolina

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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 Richard Burr of North Carolina
United States Senate
Washington, D.C. 20510

Dear Senator Burr,

September 22, 2021 – 06:01 AM EDT

GOP warns McConnell won’t blink on debt cliff

Republicans are warning that Senate Minority Leader Mitch McConnell (R-Ky.) won’t blink as Congress barrels toward dual fiscal debt-shutdown cliffs, with massive economic consequences.

Democrats are seeking to suspend the debt ceiling through 2022, tying it to a short-term government funding bill and disaster relief, in a move aimed at squeezing McConnell and GOP senators by bringing the fight to a head just days before the Oct. 1 deadline for preventing a government shutdown.

It’s set off a high-stakes game of chicken with both the government’s ability to keep its own lights on and the nation’s credit hanging in the balance, because Democrats will need 10 GOP votes to get the bill through the Senate.

As the collision course draws closer, McConnell, even while predicting that there won’t be a default, is showing no signs of swerving.

—-

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!!!

Your vote to help the Democrats jump over the debt ceiling limit hurdle reminded me of this cartoon:

A.F. BRANCO December 10, 2021

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

Senate Minority Leader Mitch McConnell speaks during the a news conference in the Capitol on Tuesday, Nov. 30, 2021. Behind McConnell, from left, are Sens. John Barrasso, R-Wyo., John Thune, R-S.D., and Joni Ernst, R-Iowa. (Bill Clark/CQ Roll Call)
Senate Minority Leader Mitch McConnell speaks during the a news conference in the Capitol on Tuesday, Nov. 30, 2021. Behind McConnell, from left, are Sens. John Barrasso, R-Wyo., John Thune, R-S.D., and Joni Ernst, R-Iowa. (Bill Clark/CQ Roll Call)

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.”

“The proposal I worked on with Leader McConnell will allow Democrats to do precisely what we’ve been seeking to do for months… provide a simple majority vote to fix the debt ceiling without having to resort to a convoluted, lengthy and ultimately risky process,” Schumer said.

McConnell began drawing battle lines over the debt limit this summer, alerting Democrats that Republicans didn’t intend to cooperate on any debt limit bill unless Democrats stopped work on their roughly $2 trillion climate and social spending reconciliation bill. If they continued to work on that package, he said, they should use the same fast-track budget reconciliation process to advance a debt limit bill.

Democrats vowed not to use the reconciliation process for the debt limit or to stop work on their tax and spending package. The intransigence placed Congress in a deadlock over the debt limit as the Treasury Department inched closer to running out of money to pay all of the country’s bills in October.

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.

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!

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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!
Raise the debt ceiling!
Raise the debt ceiling!
Raise the debt ceiling again!

Back up in the Fed and we’re still super stoked
Somehow printing lots of money while we’re working remote
Still dropping IOUs in every fund yes sir
Hamilton started this place—that’s why it only goes “BURR!!!”

Prices are rising at every venue it’s bad
And for sure that dollar menu looks especially sad
Gas prices are rising, it’s getting hard for the competent
It costs an arm and a leg—where am I? The Saudi consulate?

Leaving IOUs you should give it a try son
M1 used to sink your battleship, now it’s what you use to buy one
Just say the magic word, I’ll set the printer abuzz
Charmin might run out of paper son, but guess who never does?

Raise the debt ceiling!
Raise the debt ceiling!
Raise the debt ceiling!
Raise the debt ceiling again!

Now if you examine the chart and you look close again
We borrow more than 40 cents of every dollar we spend
Nondiscretionary spending is at terrible paces!
Do you have a response? Yes! You’re racist

We should spend most on children! We should spend most on patients!
Okay—hear me out—why don’t we spend most on interest payments?
We’re playing with fire we know the end of this story!
How do you classify your incompetence? Transitory

Objects in the mirror are closer than they seem
And to a man with a printer each problem looks like a ream
But when I’m looking at the folks that we’ve elected to lead
I’m guessing that it won’t be long till we’re back saying we need to

Raise the debt ceiling!
Raise the debt ceiling!
Raise the debt ceiling!
Raise the debt ceiling again!

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!!!

Milton Friedman and “Zero Cost” Expanded Government

By:

Richard McKenzie

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).

HERE ARE SOME SUGGESTIONS YOU HAVE IGNORED:

The Solution to the Debt Ceiling Debacle

Fundamental spending reform needed.

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Walter E. Williams - A MINORITY VIEW
Walter E. Williams is a professor of economics at George Mason University.

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.

A.F. Branco for Oct 21, 2021

 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.

Andy Harris
Andy Harris 115th Congress (cropped).jpg
Member of the U.S. House of Representatives
from Maryland‘s 1st district
Assumed office
January 3, 2011
Preceded by Frank Kratovil
Member of the Maryland Senate
In office
1999 – January 3, 2011
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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OPEN LETTER TO REPUBLICAN SENATOR WHO PLEDGED NOT TO HELP DEMOCRATS RAISE THE DEBT CEILING BUT DID IT ON DECEMBER 10, 2021 WHEN 14 REPUBLICANS WHO SAID THEY DON’T APPROVE OF THE GOVERNMENT BORROWING 40% OF WHAT THEY SPEND VOTED A WAY FOR DEMOCRATS TO DO JUST THAT!!!! Part 7 Senator John Barrasso of Wyoming

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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 John Barrasso of Wyoming
United States Senate
Washington, D.C. 20510

Dear Senator Barrasso,

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

Senate Minority Leader Mitch McConnell speaks during the a news conference in the Capitol on Tuesday, Nov. 30, 2021. Behind McConnell, from left, are Sens. John Barrasso, R-Wyo., John Thune, R-S.D., and Joni Ernst, R-Iowa. (Bill Clark/CQ Roll Call)
Senate Minority Leader Mitch McConnell speaks during the a news conference in the Capitol on Tuesday, Nov. 30, 2021. Behind McConnell, from left, are Sens. John Barrasso, R-Wyo., John Thune, R-S.D., and Joni Ernst, R-Iowa. (Bill Clark/CQ Roll Call)

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.”

“The proposal I worked on with Leader McConnell will allow Democrats to do precisely what we’ve been seeking to do for months… provide a simple majority vote to fix the debt ceiling without having to resort to a convoluted, lengthy and ultimately risky process,” Schumer said.

McConnell began drawing battle lines over the debt limit this summer, alerting Democrats that Republicans didn’t intend to cooperate on any debt limit bill unless Democrats stopped work on their roughly $2 trillion climate and social spending reconciliation bill. If they continued to work on that package, he said, they should use the same fast-track budget reconciliation process to advance a debt limit bill.

Democrats vowed not to use the reconciliation process for the debt limit or to stop work on their tax and spending package. The intransigence placed Congress in a deadlock over the debt limit as the Treasury Department inched closer to running out of money to pay all of the country’s bills in October.

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.

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!
Raise the debt ceiling!
Raise the debt ceiling!
Raise the debt ceiling again!

Back up in the Fed and we’re still super stoked
Somehow printing lots of money while we’re working remote
Still dropping IOUs in every fund yes sir
Hamilton started this place—that’s why it only goes “BURR!!!”

Prices are rising at every venue it’s bad
And for sure that dollar menu looks especially sad
Gas prices are rising, it’s getting hard for the competent
It costs an arm and a leg—where am I? The Saudi consulate?

Leaving IOUs you should give it a try son
M1 used to sink your battleship, now it’s what you use to buy one
Just say the magic word, I’ll set the printer abuzz
Charmin might run out of paper son, but guess who never does?

Raise the debt ceiling!
Raise the debt ceiling!

Your vote to help the Democrats jump over the debt ceiling limit hurdle reminded me of this cartoon:

A.F. BRANCO December 10, 2021

Look at all the things in the BUILD BACK BETTER PLAN that you just enabled:

10 Downsides to the Democratic Spending Plan


President Biden has released a framework for his Build Back Better plan, which he hopes will gain the support of Democrats in the House and Senate. The plan includes spending increases of $1.85 trillion over 10 years, but that figure relies on gimmicky accounting and the actual cost would be higher.

The plan includes new and expanded subsidies for housing, preschool, renewable energy, health care, elderly care, electric cars, child care, school meals, higher education, farming, refundable tax credits, and other activities. The aim is to pass the plan as a reconciliation bill, which requires 51 votes in the Senate.

The spending would be funded by a $2 trillion tax increase, thus likely damaging investment, hiring, and growth. A rule of thumb is that each dollar of an income tax increase causes about 50 cents of deadweight losses or economic damage. Thus, a $2 trillion tax increase would damage the private sector by about $3 trillion.

But the spending itself would be harmful even without a tax increase. Let’s look at 10 downsides to the Democratic spending plan.

States Can Do It. Much of the proposed spending is for activities that states can fund themselves. Expanding subsidy programs is a bad idea, but such programs are even more inefficient when imposed top‐​down by Washington. If West Virginia or Arizona want to subsidize housing, preschool, or renewable energy, they can do so with their own state revenues. There is no need for aid from the federal government, especially when it is running large budget deficits while West Virginia, Arizona, and other states have large surpluses. State and local tax revenues are currently up 11 percent over pre‐​pandemic levels.

Private Sector Can Do It. Some proposed spending is for activities that the private sector is already doing, so there is no need for new subsidies. The plan would increase subsidies for electric vehicles even though EV sales are already booming. In other cases, the plan would subsidize activities that the private sector would address by itself if governments got out of the way. The plan, for example, includes $150 billion in housing subsidies, but governments are causing the affordable housing problem by restricting supply with excessively tight zoning and building regulations.

Fix Existing Policies. The plan includes $555 billion in subsidies to address climate change, but the government itself imposes policies that exacerbate the harms from climate‐​related disasters such as hurricanes, droughts, and fires. Furthermore, the green way to fund infrastructure is through user charges that restrain resource use, but the Democrats plan to subsidize infrastructure, which is not green or efficient. Rather than creating new subsidies to address climate change, the government should fix its current anti‐​green policies.

Federal Overload. Policymakers do a poor job of managing and overseeing the vast array of current federal programs, and new programs would further overload them. The federal budget at $6.8 trillion is 150 times larger than the average state government budget of $45 billion. Most federal politicians have probably never even heard of hundreds of the government’s 2,300 or so programs, let alone actively oversee them.

Democracy. The spending plan would reduce democratic control of government. When the federal government funds state and local activities, decision​making moves from elected state and local officials to unelected and unknown officials in far‐​away Washington. The Democratic plan would move control over activities such as preschool and child care to federal bureaucrats. In an April speech, President Biden lauded “democracy” 16 times, but his spending plan would result in more top‐​down mandates on state and local activities.

Diversity. Residents of each state have varying preferences for spending programs and taxes. State governments can maximize value by tailoring policies to those preferences. But the Democratic proposals would undermine such beneficial diversity by imposing one‐​size‐​fits‐​all rules for energy, preschool, child care, and other activities. Biden promised that he would bring the nation together, but trying to force conformity on Americans with top‐​down programs would increase anger and division.

Corporate Welfare. Democratic leaders often rail against corporate subsidies, yet their spending plan includes subsidies for industries such as housing, automobiles, and energy. The subsidies would increase the feeding frenzy of corporate lobbying in Washington.

Costly Regulations. Federal subsidies come tied to regulations that raise costs for the states, cities, businesses, and organizations that receive funding. Federal infrastructure subsidies, for example, come tied to labor and environmental rules that raise costs and delay projects. The Democratic spending plan would probably lead to costly new rules imposed on education, energy, housing, preschool, child care, and other activities.

Fraud and Waste. Federal subsidy programs suffer from waste and fraud because state and local administrators have little incentive to restrain costs when the funds come “free” from Washington. Programs such as Medicaid and school lunches have long had high fraud rates, and we have seen massive fraud in recent pandemic aid to the states. Meanwhile, federally funded projects, such as light‐​rail systems, often suffer from large cost overruns. The new hand‐​out programs would likely suffer these same problems.

Programs With Poor Records. The Biden administration promised that it would follow “evidence‐​based policymaking,” but Biden’s plan would expand programs that have poor track records. For example, the plan would expand workforce training subsidies, but such efforts have never worked very well. And the plan would expand the earned income tax credit, but the program has an error and fraud rate of about 20 percent and it creates work disincentives as income rises and the credit is phased out.

HERE ARE SOME SUGGESTIONS YOU HAVE IGNORED:

The Solution to the Debt Ceiling Debacle

Fundamental spending reform needed.

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Walter E. Williams - A MINORITY VIEW
Walter E. Williams is a professor of economics at George Mason University.

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!!!

——-

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.

A.F. Branco for Oct 21, 2021

 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.

Andy Harris
Andy Harris 115th Congress (cropped).jpg
Member of the U.S. House of Representatives
from Maryland‘s 1st district
Assumed office
January 3, 2011
Preceded by Frank Kratovil
Member of the Maryland Senate
In office
1999 – January 3, 2011
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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OPEN LETTER TO REPUBLICAN SENATOR WHO PLEDGED NOT TO HELP DEMOCRATS RAISE THE DEBT CEILING BUT DID IT ON DECEMBER 10, 2021 WHEN 14 REPUBLICANS WHO SAID THEY DON’T APPROVE OF THE GOVERNMENT BORROWING 40% OF WHAT THEY SPEND VOTED A WAY FOR DEMOCRATS TO DO JUST THAT!!!! Part 6 Senator Mitt Romney of Utah

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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 Mitt Romney of Utah
United States Senate
Washington, D.C. 20510

Dear Senator Romney,

You are voting like you are still the Governor of Massachusetts instead of Senator from Utah!!!!! (If things keep going like this maybe you be welcomed back to Massachusetts!)

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

Senate Minority Leader Mitch McConnell speaks during the a news conference in the Capitol on Tuesday, Nov. 30, 2021. Behind McConnell, from left, are Sens. John Barrasso, R-Wyo., John Thune, R-S.D., and Joni Ernst, R-Iowa. (Bill Clark/CQ Roll Call)
Senate Minority Leader Mitch McConnell speaks during the a news conference in the Capitol on Tuesday, Nov. 30, 2021. Behind McConnell, from left, are Sens. John Barrasso, R-Wyo., John Thune, R-S.D., and Joni Ernst, R-Iowa. (Bill Clark/CQ Roll Call)

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.”

“The proposal I worked on with Leader McConnell will allow Democrats to do precisely what we’ve been seeking to do for months… provide a simple majority vote to fix the debt ceiling without having to resort to a convoluted, lengthy and ultimately risky process,” Schumer said.

McConnell began drawing battle lines over the debt limit this summer, alerting Democrats that Republicans didn’t intend to cooperate on any debt limit bill unless Democrats stopped work on their roughly $2 trillion climate and social spending reconciliation bill. If they continued to work on that package, he said, they should use the same fast-track budget reconciliation process to advance a debt limit bill.

Democrats vowed not to use the reconciliation process for the debt limit or to stop work on their tax and spending package. The intransigence placed Congress in a deadlock over the debt limit as the Treasury Department inched closer to running out of money to pay all of the country’s bills in October.

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.

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!!!

Milton Friedman and “Zero Cost” Expanded Government

By:

Richard McKenzie

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).

HERE ARE SOME SUGGESTIONS YOU HAVE IGNORED:

The Solution to the Debt Ceiling Debacle

Fundamental spending reform needed.

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Your vote to help the Democrats jump over the debt ceiling limit hurdle reminded me of this cartoon:

A.F. BRANCO December 10, 2021

WALTER WILLIAMS: We’re all to blame for national debt (opinion)

Walter E. Williams - A MINORITY VIEW
Walter E. Williams is a professor of economics at George Mason University.

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!!!

——-

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.

A.F. Branco for Oct 21, 2021

 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.

Andy Harris
Andy Harris 115th Congress (cropped).jpg
Member of the U.S. House of Representatives
from Maryland‘s 1st district
Assumed office
January 3, 2011
Preceded by Frank Kratovil
Member of the Maryland Senate
In office
1999 – January 3, 2011
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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OPEN LETTER TO REPUBLICAN SENATOR WHO PLEDGED NOT TO HELP DEMOCRATS RAISE THE DEBT CEILING BUT DID IT ON DECEMBER 10, 2021 WHEN 14 REPUBLICANS WHO SAID THEY DON’T APPROVE OF THE GOVERNMENT BORROWING 40% OF WHAT THEY SPEND VOTED A WAY FOR DEMOCRATS TO DO JUST THAT!!!! Part 5 Senator John Thune of South Dakota

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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 John Thune of South Dakota
United States Senate
Washington, D.C. 20510

Dear Senator Thune,

I had a chance to visit with you personally when you came to Arkansas in 2010 and you came to Little Rock to help some of political candidates and you spoke at a breakfast in my little town of Bryant. Tim Hutchinson introduced you as a stand up conservative that we could depend on but I do wonder about that now!!!!

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

Senate Minority Leader Mitch McConnell speaks during the a news conference in the Capitol on Tuesday, Nov. 30, 2021. Behind McConnell, from left, are Sens. John Barrasso, R-Wyo., John Thune, R-S.D., and Joni Ernst, R-Iowa. (Bill Clark/CQ Roll Call)
Senate Minority Leader Mitch McConnell speaks during the a news conference in the Capitol on Tuesday, Nov. 30, 2021. Behind McConnell, from left, are Sens. John Barrasso, R-Wyo., John Thune, R-S.D., and Joni Ernst, R-Iowa. (Bill Clark/CQ Roll Call)

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.

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!

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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!!!

Milton Friedman and “Zero Cost” Expanded Government

By:

Richard McKenzie

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).

Everette Hatcher III, 13900 Cottontail Lane, Alexander, AR 72002, everettehatcher@gmail.com,

PS:

Your vote to help the Democrats jump over the debt ceiling limit hurdle reminded me of this cartoon:

A.F. BRANCO December 10, 2021

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!!!

——-

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.

A.F. Branco for Oct 21, 2021

 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.

Andy Harris
Andy Harris 115th Congress (cropped).jpg
Member of the U.S. House of Representatives
from Maryland‘s 1st district
Assumed office
January 3, 2011
Preceded by Frank Kratovil
Member of the Maryland Senate
In office
1999 – January 3, 2011
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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OPEN LETTER TO REPUBLICAN SENATOR WHO PLEDGED NOT TO HELP DEMOCRATS RAISE THE DEBT CEILING BUT DID IT ON DECEMBER 10, 2021 WHEN 14 REPUBLICANS WHO SAID THEY DON’T APPROVE OF THE GOVERNMENT BORROWING 40% OF WHAT THEY SPEND VOTED A WAY FOR DEMOCRATS TO DO JUST THAT!!!! Part 4 Senator Roy Blunt of Missouri

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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

Senate Minority Leader Mitch McConnell speaks during the a news conference in the Capitol on Tuesday, Nov. 30, 2021. Behind McConnell, from left, are Sens. John Barrasso, R-Wyo., John Thune, R-S.D., and Joni Ernst, R-Iowa. (Bill Clark/CQ Roll Call)
Senate Minority Leader Mitch McConnell speaks during the a news conference in the Capitol on Tuesday, Nov. 30, 2021. Behind McConnell, from left, are Sens. John Barrasso, R-Wyo., John Thune, R-S.D., and Joni Ernst, R-Iowa. (Bill Clark/CQ Roll Call)

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!!!

Milton Friedman and “Zero Cost” Expanded Government

By:

Richard McKenzie

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 revivin