Debt Ceiling Debate
By: Mark Hyman
The world ends on August 2nd.
That’s what Washington politicians want you to believe.Â Supposedly, that’s the date America hits theÂ national debt ceiling.Â Previously, we were told the deadline wasÂ March 31st,Â April 15th,Â May 16thÂ andÂ May 31st.
Itâ€™s like the old joke.Â A doctor gives a man six months to live.Â The man tells the doctor he canâ€™t pay his bill.Â So the doctor gives him an additional six months to live.
Itâ€™s Washington gimmicks.
Most media equates the debt ceiling with automatic default.Â Â Untrue. Treasury Secretary Tim Geithner – the man whoÂ cheatedÂ on his taxes for years – is obligated to make debt payments.Â And we have enough money to pay our debt. We default only if the White House orders us to default.
Now the White House argues we canâ€™t afford our debt.Â And we should take on more debt to pay off the debt we already canâ€™t afford.Â Got it?
A catastrophe does await our children and grandchildren.Â We are saddling them with debt they can never hope to repay.
This is no time to compromise.Â You compromise on china patterns. And on which movie to see.Â You donâ€™t compromise on principle. One side wants to live within our means.Â The other side wants to spend us into bankruptcy.Â You donâ€™t meet in the middle and just wildly overspend.
Hold the line. Principled people shouldnâ€™t allow this White House to turn our country into Zimbabwe.
Mark Hyman hosts "Behind the Headlines," a commentary program for Sinclair Broadcast Group.