The House of Representatives is set to pass the 2016 federal budget deal as John Boehner exits as Speaker of the House. His last ′hurrah′ gives Barack Obama what he has always wanted, no debt ceiling. The debt ceiling puts a spending limit on just how much more debt may be added to the National Debt. The ′official′ National Debt clock has not moved a tick since mid-February. Thanks to the Department of Treasury fudging the numbers, as part of the overall Obama administration′s agenda of hiding the truth, one might think that the National Debt no longer matters. But, the reality is that we are approaching some $19 Trillion dollars of sovereign debt, which is now already larger than our estimated $17 Trillion dollar annual economy.
This is one of the moments where, in history, crowds of people would take to the streets and demand resignations and abdications. Kings have been beheaded for this sort of thing! Yet, our friends in the Liberal Media hardly give notice, other than to award Obama a political victory. In the past, Congress and the White House worked out budget deals which always included including increases to the debt ceiling, but they were incremental. Large increments, to be certain. But this time, Boehner and Obama have gone too far.
In previous budget deals, what occurred was a limited increase in how much extra spending the federal government could do. Sort of like a bank issuing you a gold or platinum credit card after you maxed out your silver or gold cards. Now, thanks to Boehner, Obama has a no-limit ′black′ card. For his remaining time in office, Obama can spend as much as he wants. We were already heading towards Obama leaving the White House, giving the country a National Debt in the $20-21 Trillion dollar range. Now, who can say how high it may grow?
The rationale for the 2016 budget deal is that it settles matters for most of the next two years, leaving budget issues off the table until after the elections. For the most part, the budget deal will prevent a possible government shutdown, though some argue one could still be threatened over specific spending items. Maybe that is good for some of the Republican presidential candidates? A few, like Ted Cruz and Rand Paul, plan to use the budget deal to their advantage as another reason to confront the ′Establishment′. But for us taxpayers, this is bad news. A truly dark day for the United States of America. We are basically forced to permit the same corrupted bureaucracy in government that has already stolen trillions of dollars from us to steal even more.