Should We Paint the Debt Ceiling Black?
Do We Need a Bigger Ladder to Reach the Ceiling?
The "Debt Ceiling" seems to be all the buzz these days. Raise it, lower it or whatever because most Americans do not even know what it is, let alone understand it.
We listened with much intent to President Obama last night and truthfully, he has accomplished one thing indubitably, he scared the you-know-what out of us!
So, just what is the Debt Ceiling?
In layman's terms, if America doesn't pay their creditors, then we are doomed, right? President Obama has even gone so far to call it, "fiscal Armageddon." But isn't that striking fear into the hearts of most Americans, especially the elderly who depend upon those Social Security checks to make ends meet?
The Debt Ceiling is simply this, the amount of money that the Treasury can borrow to pay our American bills. The Treasury acts on behalf of the directives from Congress and has been paying our bills with blank checks for far too long.
Is it time to paint the Debt Ceiling Black? Should we really and truly care if our American credit limit gets rated anything other than an AAA rating?
This morning we already saw the effects of the Debt Ceiling rift upon the stock market and crude oil pricing. According to Reuters, "the US dollar plummeted against the Swiss franc." You can read the full Reuter article here.
I know one thing for sure, the time is now to stop spending money we do not have and when we tax those who are making over $250,000 then we better make sure that they are not small business owners who employ folks like my husband, otherwise a whole lot of people are going to be out of work.
Maybe it is time to paint the ceiling black.
Source:
http://www.cato.org/pub_display.php?pub_id=13339
http://money.cnn.com/2011/07/26/news/international/lagarde_debt_ceiling/
http://www.reuters.com/article/2011/07/26/markets-energy-nymex-idUSN1E76P0A020110726
Published by Michele Starkey
Optimist who enjoys writing, laughing and spreading good news. If I have but one life to live, I hope to make mine memorable. My epitaph will read: she lived, she loved, she left. View profile
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1 Comments
Post a CommentWhat an excellent idea:) I hope you are having fun on your jaunt. I read the great article on giving oneself a gift and you are right - 18 years to hold a grudge is terrible. I know people who have hung on to negative thoughts for years and cannot let it go.