Updated: Jan 30
The United States has hit the so-called debt ceiling and true to form, the establishment media is predicting “economic calamity,” “financial crisis,” and other “immediate economic
pain” if Republicans don’t immediately cave to the Democrats’ demand for an immediate no-strings increase in the government’s borrowing power.
The problem for the debt ceiling Chicken Littles is that we are 10 days into the government “debt crisis” with no economic meltdown.
It’s almost like everyone outside of Washington’s establishment media has figured out that after a period of partisan wrangling and posturing by both sides the debt ceiling will be raised, federal employees and contractors will be paid, the parks will be open and Social Security recipients will always get paid.
So, what’s the big deal about the latest debt ceiling fight?
Remember, there is already legislation dating back to 1985, the Gramm-Rudman-Hollings bill and 2011, the Budget Control Act of 2011, that is supposed to reduce spending, but Congress routinely waives the provisions of these laws.
What’s more, the public appears to have lost all fear of the dreaded debt ceiling enforced “government shutdown.”
A new Rasmussen Reports national telephone and online survey finds that 56% of Likely U.S. Voters would rather have a partial government shutdown until Congress can agree to either cut spending or keep it the same. Just 34% would rather avoid a partial shutdown by authorizing more spending.
Four years ago, when President Donald Trump and Democrats squared off over the debt ceiling, Rasmussen found 54% preferred a shutdown.
Biden has suggested tax increases as part of his plans for a debt-ceiling fix.
Rather than raise taxes, Biden can cut or freeze spending now by doing a deal with House Republicans, it will give the Treasury some wiggle room on selling treasuries, and have less money printing as a result from the Federal Reserve, helping to cool off inflation more.
But that would look like a win for Republicans, so Biden and his Democrat allies in Congress will be loath to make that deal – at least right away.
However, most voters disagree with Biden’s tax raising scheme, correctly thinking spending is the problem. Sixty-six percent (66%) believe politicians’ unwillingness to reduce government spending is more to blame for the size of the federal deficit than taxpayers’ unwillingness to pay more in taxes. Twenty-one percent (21%) think taxpayers are more to blame for the size of the deficit. Another 13% are not sure.
Rasmussen found majorities of every political category – 77% of Republicans, 52% of Democrats and 71% of voters not affiliated with either major party – say politicians’ unwillingness to reduce government spending is more to blame for the size of the federal deficit.
While majorities of Republicans (73%) and unaffiliated voters (56%) would rather have a partial government shutdown until Congress can agree to either cut spending or keep it the same, only 41% of Democrats agree. Fifty-percent (50%) of Democrats would rather avoid a partial shutdown by authorizing more spending, an opinion shared by only 22% of Republicans and 30% of unaffiliated voters.
Sixty-seven percent (67%) of whites, 58% of black voters and 66% of other minorities think the size of the federal deficit is more because politicians are unwilling to reduce government spending. Majorities of every racial group – 56% of both whites and black voters, and 58% of other minorities – prefer a partial government shutdown to authorizing more spending.
The public is clearly on the side of cutting spending, rather than raising taxes. Our recommendation is that House Republicans demand passage of Cut, Cap and Balance as their price for raising the debt ceiling.
Cut, Cap and Balance is a common sense proposal that will cut and cap federal spending to ensure that Washington begins to live within its means and put in place a Constitutional balanced budget amendment that will make balancing the budget the rule, not the exception, said House Republicans back in 2011, and if anything, events since the passage of the Budget Control Act of 2011 have proven the necessity of a constitutional amendment to control federal spending.
The Capitol Switchboard is (202) 224-3121 we urge CHQ readers and friends to call House Republicans to demand that they stand fast for Cut, Cap and Balance - a real solution to the disastrous advance of the federal debt that threatens to destroy our economy and overwhelm our government’s ability to defend the nation and deliver services to its citizens.
Cut, Cap and Balance