We must eliminate the deficit and begin to reduce the debt or we’ll suffer the same fate as Argentina under Peron, who caved in to the labor unions and printed so much money that their currency collapsed and hyperinflation drove prices to unbelievable levels. Hyperinflation is far more damaging than this so called “cliff” we face now. It would be the end of the free enterprise system.
The Boles-Simpson plan offers hope of balancing the budget. The Ryan plan is even better. Some combination of the two could avert the disaster of hyperinflation. We certainly cannot afford to waste more money on stimulus and we most assuredly must not turn the keys to the Treasury over to President Barack Obama.
In the current negotiations the Republicans must not give in to the “spender-in-chief.” When they give in on increasing taxes on the rich, they will have played their only trump card. We must not go “all in” until we have substantial progress on debt control.
People who believe it will work have a name: Democrats.
At the same time that he is claiming the Republicans have not presented any ideas, he is asking that the raising of the debt limit be given to him. That’s like giving an unlimited credit card to a 15-year-old boy and expecting him only to buy what’s necessary.
President Obama won the last election but he did not win in a landslide. Yes, he did win the Electoral College by a wide margin, but the popular vote had him winning 51 percent to 48 percent, which is not the full mandate that he is claiming.
The Democrats and their national press corps are trying to push the idea that if there is nothing done before the end of the year, it will all the fault of the Republican Party. If you were the Republican Party would you give Obama everything that he wants including the right to raise the debt limit to, say, $25 trillion?
Then as now, all of the problems with them were present. “Auntie” could drive to town and back, then park the car for a day or so to recharge.
Then as now, the concept was flawed. By the way, somebody should tell President Barack Obama that his beloved jumbo jet, Air Force One, will not run on batteries, pond scum (algae biofuels), or windmill power.
Lafe R. Pfeifer