by Dan Perrin –
It is irrational to expect different results from promising cuts in the future and raising the debt limit immediately.
The Dem trap is simple, wait out and refuse any real cuts, and then use Wall Street and the Federal Reserve and others to force Congress into granting new debt immediately, with promises of cuts in ten years.
The new deal sounds like the same old formula, it will change nothing. This is not serious reform.
No cuts ever stick — USG deficit spending always increases — especially now with the super spending catalyst of ObamaCare — that the Dems refused to amend or change.
With the debt limit gun to their heads and screaming that the GOP is behaving irresponsibility, the Dems refuse serious cuts — you know “automatic” cuts to entitlements or a balanced budget amendment.
With their new found debt limit in hand, under this new deal, they will rejoice and spend, spend, spend and never cut because they can borrow, borrow, borrow.
Here is a newsflash: no one believes the Dems or the Rs will cut — and an immediate debt limit increase coupled with “we promise to cut, really, we promise” just like every other debt limit increase, is not believable or credible.
Trust us, it’s different this time, uh, no.
In order for it to be different this time, the GOP has to do something really different.
How did we get from no taxes, cuts, and a balanced budget to serious cuts off the table, no balanced budget amendment — with an immediate debt limit increase now?
We win on no new taxes? Isn’t that where we were before, why 83 Frosh House members were elected?
How is this reform — because Republicans are not voting for a tax increase?
But are raising the debt limit immediately?
And only the usual, never make it into law, scored by CBO later as pitiful cuts, making Republicans calls of cutting spending look silly and idiotic and worse, seriously undermining GOP credibility are played up by the media.
Under these conditions the responsible thing to do is stop the spending by not voting for any immediate debt limit without serious “automatic” cuts to entitlements or a balanced budget amendment — which, of course, the Dems refuse to do.
The only way to force the Dems to accept a balanced budget amendment or any serious cuts that will bring us into balance, is to vote against an immediate increase in the debt limit.
Stopping their access to the cash is the only thing they understand — once that happens, serious cutting will start, not the let’s-pretend-and-promise, check-in-the-mail, business as usual stuff.
Somehow, the GOP expects Americans to believe “we will cut future spending without a balanced budget amendment” when they say it, but to disbelieve it when the Dems say it.
The financial markets may want the stability of a debt limit increase, but the economy will hate the new debt, and it will not react well to new debt now, with promises, promises, promises of “serious” cuts and “reform” later.