Debt Limit

Congress doesn't get it. Interest rates will go up, our debt service will increase and we will be forced to cut back on all federal expenditures whether or not we raise the debt ceiling. We are in a mess and there is no easy way out.

Interest rates are at a historic low and federal borrowing is at a historic high. Interest rates will go up regardless, which will force us to cut federal expenditures in order to service our debt. The only chance we have to avoid total economic disaster is to reduce our national debt, not increase it.

Every plan, both Democratic and Republican, calls for increasing our national debt. Increasing our debt will put us on the path that Portugal, Italy, Greece, Spain and Ireland have been on. But there is no economy large enough to bail out the US. Is there ANY reason to expect anything different? The definition of insanity is: "doing the same thing and expecting different results".

If we immediately reverse course and live within our means things will be tough. Interest rates will go up. We will have to slash the federal budget by 40%. There will be immediate cuts in social services. People will suffer. But people will help each other and we will get through it and we will survive as a nation.

If we continue to spend more than we take in, no one will be willing to lend us money. We can raise the debt limit all we want, but the marketplace will cut off our credit because no one will lend us any more money. At that point, the government will print money to pay our obligations. This will result in hyperinflation. This will result in ALL savings being wiped out. This will result in a halt of the US economy. This will lead to suffering, starvation, riots, anarchy, Marshall law and leave us vulnerable to foreign attack.

Tea party patriots like Michelle Bachmann understand this and are trying to save our nation. We are at a crossroads. We can choose to feel lots of pain now or face the collapse of our economic system in the near future.

Compromise is not an option. Compromise is ridiculous. If you were driving toward a cliff at 100 MPH and a passenger insisted that you stop immediately, what good would it do if you compromised and drove off the cliff at 50 MPH?.

This is the situation we are in now. We must reverse course. Going deeper into debt is not compromise. Paying off debt is good, stopping incurring new debt is a compromise. Increasing our debt at ANY rate is not a compromise, it is taking us closer to the cliff.