Raising the ceiling debt will not curb the governments thrist for spending. CUT SPENDING! Debunking a popular myth, not raising the debt ceiling will stop any further spending by the government. The obligation to the interest on our debt will still be paid by the revenues collected by taxes. In fact, the high gas prices is a nice source of tax revenues to the teasury. We need to get serious with our spending before it is too late. By putting it off, we will continue to have the same discussion.
(Politico) The Senate’s Tea Party Caucus will face a tough decision when it comes time to vote to raise the national debt limit: Fall in line behind Republican leadership or go rogue.
The founding members of the new caucus – freshman Sens. Mike Lee (R-Utah) and Rand Paul (R-Ky.) and second-term Sen. Jim DeMint (R-S.C.) – are each considering whether to mount a filibuster to block an increase of the $14.3 trillion national debt ceiling.
But Senate Minority Leader Mitch McConnell (R-Ky.) and his leadership team are quietly voicing concerns about a filibuster, saying their preferred strategy is to force Democrats to find 51 votes among themselves, so they can be solely responsible for raising the national borrowing limit. Since 60 votes would be needed to overcome a filibuster, at least seven Republicans would have to ultimately back a debt limit hike if the party didn’t want to take the blame for forcing a default on the nation’s creditors – which would badly muddy the political message.
The vote, which carries both tangible and political consequences, will be a test of how far the fiercely conservative tea party senators are willing to take their purist ideology.
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