Prepare to Bump Your Head on the Debt Ceiling

Sen. Minority Leader Mitch McConnell (R-Kentucky) said today:  “The tax issue is finished, over, completed.  That’s behind us.  Now the question is what are we going to do about the biggest problem confronting our country and our future, and that’s our spending addiction.”

Then for good measure McConnell threw in the Greece canard, which is very effective in scaring people, but is irrelevant to our situation.  Greece’s problem is not having its own floating currency and its own central bank.

I agree that we need to cut spending (How about getting out of Afghanistan ASAP?), but you cut spending by negotiating on stuff you haven’t bought yet.  You don’t demand spending cuts by refusing to pay for the things you’ve already bought.  And we need to balance spending cuts by reforming the tax code to get additional revenue.

If the GOP were so concerned about the national debt, they wouldn’t be willing to mess with our credit rating, driving up borrowing costs and throwing away money on interest payments.

 

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