Friday, July 15

            Eighteen days before the government potentially defaults on its payment obligations for the first time in its history.  Interesting that things have gotten to this point.

I am not quite sure why closing wasteful and unnecessary tax loopholes (which will generate more revenue) and cutting all the unnecessary spending (which will bring costs down) is seen by government leaders as so difficult.  Why does the debt ceiling have to be raised at all if the above is done?

The only options proposed by leaders seem odd:

1)      Raise the debt ceiling so we can spend even more; or

2)     Raise the debt ceiling and start making cuts that will balance the budget...eventually; or

3)     Raise the debt ceiling, make cuts but raise taxes so that the government can spend that money, too.

 Seems like we need a constitutional amendment that madates a balanced budget, flat tax system and term limits.