GOP bigwigs and the “Conservative” D.C. Commentariate are crying in their three-martini-lunches over leftist agenda polls showing the public “blames” Republicans for the Federal Government “shutdown”. Democrat-owned firms like Public Policy Polling of North Carolina are claiming Republican control of the House of Representatives is now in jeopardy come 2014. More centrist polls like Pew Research actually show that middle America is holding both parties accountable at roughly equal levels.
Of course, if the media did its job and disseminated the truth instead of acting as the Propaganda arm of the DNC, overwhelming majorities of the public would know the “shutdown” amounts to only a 17% reduction in Federal spending and the GOP has passed numerous bills to fund the Government. Harry Reid and the Democrats in the Senate are the real obstructionists.
None of this matters. The Republican “Leadership” should not be fretting over the political fallout. They ought to be standing proud and holding their heads high! They are doing what is right.
All signs point to the Republicans preparing to cave because the oh-so-scary spectre of default on our national debt is approaching. The media, the beltway intelligentsia, and elected officials from Barack Obama to Pied Piper/Speaker of the House John Boehner portray default as an internationally cataclysmic event that would bring down the worldwide financial markets.
Good.
The MSM and other opinion leaders have compared the effect of the US going into default on its national debt to the “too-big-to-fail” corporations going bankrupt, only on a world-wide scale. That comparison is probably apt.
The United States IS bankrupt. We will soon be $17 trillion in debt and realistically, our debt will never be repaid. Countries around the globe are in similar shape. Greece, Italy, Spain, and others nations are constantly at the precipice of debt-driven financial oblivion.
The companies that were “too-big-to-fail” should have been allowed to fail. The decisions of the companies and their leaders should have had consequences. Yes, the effect of such a reset on our national financial system would have been painful, but it also will ultimately be necessary. The bailouts pushed economic judgment day down the road, they did not prevent it. Eventually, someone will have to pay the piper. Ironically, bailing out the multi-billion dollar corporations hastened America’s decline further into debtorhood.
As the parties wrangle over defunding the signature and most politically unpopular accomplishment of the Obama Presidency, we soon will reach our debt ceiling. If a spending bill is not agreed upon by Congress, national “default” on our debt will occur.
This is not a disaster, this is an opportunity. The United States defaulting on our impossible-to-pay-back debt will begin to break apart the international financial dependency that the world powers have woven since the end of World War Two. For our President, this would provide a real chance to show leadership.
Barack Obama should call for an international debt forgiveness agreement. All nations, rich and poor, start with a clean slate. This is not as unrealistic as it might first seem. After all, the world community is engaging in deals involving hypothetical monopoly money. When China buys America’s debt, they know they will be paid back by play money printed by our treasury. A counterfeiter’s basement produced currency holds the same intrinsic value.
The world has a rare chance to hit the reset button. For America, it would mean a way to unravel the interests of multinational businesses from legislative policy. We could once again be the leader and light of the world, a beacon of Liberty, free markets, and opportunity. Whether the “debt ceiling” will give way to a new “Morning in America” is now in the hands of Congress. Let us pray they have the courage and strength to Carpe Diem.