Liberals Want Infinite Blank Check
A new report from The Hill says that three Congressional Democrats, Jerrold Nadler (D-NY), Jim Moran (D-VA) and Hank Johnson (D-GA) will introduce a bill today to abolish the debt ceiling. From The Hill:
The debt ceiling is truly arbitrary and has nothing to do with the deficit,” Rep. Jerrold Nadler (D-N.Y.) said in a statement last Wednesday. “The debt ceiling does not prevent the United States from incurring new debts. That occurs when Congress decides to authorize more spending than revenues. The debt ceiling prevents the president from borrowing money to pay those debts when they come due.
Great idea! Let’s just borrow and spend like there’s no tomorrow! That’ll be great for our economy and our standing in the world. If only we normal people could get that kind of a credit line. Budget Committee Chairman Paul Ryan (R-WI) responded:
Nobody wants to see defaults happening — but we also think it’s important to get a handle on future borrowing as we deal with raising the debt limit.
Skyrocketing debt is a danger to America’s future prosperity and security. Just to be clear, some Democrats seem to recognize this. Senator Tom Carper (D-DE) said:
I think the best jobs bill that can be passed is a comprehensive long-term deficit-reduction plan… That’s better than everything else the president is talking about — combined.
Here’s hoping (there’s that word again), conservatives in Congress recognize that wisdom.