Debt Ceiling, What Debt Ceiling?
The major stocks indexes have traded in a wild range over the past two weeks. The stock market has rallied sharply higher in early July, just after the second Greek bailout in two years was passed. Now the major stock indexes decline sharply as more European Union problems emerge. The United States also has its own soap opera going on. The U.S. Congress is fighting against President Obama on raising the debt ceiling. President Obama is looking to raise the debt by more than $2 trillion dollars. Please note that the debt ceiling has been increased seventy times in the past already. Debt ceiling, what debt ceiling?
The politicians made a crucial mistake when they even set a debt ceiling. The current debt in the United States stands at $14.5 trillion, meanwhile, President Obama wants to increase the debt ceiling by over $2 trillion to $16.5 trillion. This number is just to get the U.S. into 2012. The numbers that are being discussed are simply astronomical. The United States has added $4 trillion in debt under President Bush in 2008. President Obama added $2.52 trillion in his first 19 months in office. The question that everyone must ask themselves is why does the debt ceiling have to be so high? Why is the U.S. government spending more than it takes in each month? Why does the United States have so many military installations around the world? Why is the United States in five different wars right now? These are the questions that the United States citizens needs to ask politicians. In other words, why are you politicians wasting my money?
Most U.S. citizens do not really have a clue on what is going on in world. Most people are too busy playing with there i-phone or some other new fancy electronic gadget. People are too busy running around trying to get through week to week in this country. Capitalism has fallen by the wayside, that is obvious with the bank bailouts, auto bailouts, European Union bailout, unemployment bailouts, homeowner mortgage bailouts, welfare bailouts, and any other bailout that I may have forgot to write down. We live in a world of bailouts and we have had this system in place for the past 50 years.
Ladies and gentleman, the debt ceiling will be raised. It is really all politicians know how to do. It does not matter what party is in power, politicians love to spend other peoples money. Congressman Ron Paul(R-Texas) is the only politician that has opposed every debt increase and will not vote for it now. The rest of these politicians including the new freshman Tea Party members are already rolling over like a dog that is getting a biscuit treat. In any case, we can all enjoy the soap opera until the final deal is struck by the political elite.