Jul 26 2011
Sky’s the limit
Pre-Ramble: I’m sure the producers of The Bachelorette were thrilled when the President of the United States and the Speaker of the House cut into last night’s show to banter about the nation’s debt crisis. What could be more simpatico than budget talks and one-on-one date night in Fiji? (Can you believe that Constantine??)
So, basically, some of the folks on Capitol Hill want to scootch up the amount of $$$ we as a nation borrow to cover some stuff we want to buy/pay for (like a prescription drug program, missiles, … probably some of those pricy toilet seats, etc.) that we can’t actually afford right now. If we raise our “debt ceiling” that means we can borrow more $$$ to cover that stuff … and then pay it back sometime in the future.
When the U.S. government is kicking around a plan like that, it seems like it could almost be reasonable. Sure, we’ll just borrow some $$$ now and figure out how to pay it back … later.
GOP leaders met tonight to discuss what to do, and aides said there were two options:
- They could elect to lower the increase of the debt limit extension. Right now the plan is to extend the debt limit by $1 trillion; they could move that to a number under the $850 billion.
- They could elect to cut more, to push the $850 billion number back above $1 trillion.
“However,” one of the aides said, “the former is a lot easier than the latter.”
Glad we cleared that up. What’s a billion dollars here or there? And, why don’t we put the “aides” in charge, as they clearly have this all figured out.
The Take-Away: I want to raise my debt ceiling too. What a great concept … just borrow a bunch of $$$ from Big Bucks Bank and buy all kinds of nifty things … furs, yachts, jets, cocktail rings … trips to Figi … and then have some of those “aides” figure out the easiest way to pay it back. Brilliant!












