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Raise the Debt ceiling NOW to avoid Blackmail next Spring

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Periodically, Congress is called upon to raise the statutory debt ceiling, and next spring is the next time this will be necessary. 15 years ago, Newt Gingrich used the occasion for a showdown with Bill Clinton: He held the government hostage to demands for radical changes in fiscal policy, until Clinton faced him down and public opinion forced a retreat.

Alan Simpson has suggested that next spring would be a dandy time to repeat this blackmail. link He has good reason to believe that Obama will be a far easier target than Clinton was.

Last week, Michael Hudson warned us that the Republicans were preparing to use the occasion for mischief: he suggested the target would be to replace the progressive income tax with a regressive "flat tax" on wages only (not financial income). This would be rough on working people, but a boon to billionaires.

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In an OpEdNews article, Chris Floyd amplified these fears, and fleshed out the scenario.

For four more weeks, the Congress is controlled by Democrats. This is the time to raise the debt ceiling. It will remove a lethal weapon from the arsenal of the incoming Republican Congress.

Call your Congressman. Tell him to raise the debt ceiling now.
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Josh Mitteldorf, an editor at OpEdNews, blogs on aging at http://JoshMitteldorf.ScienceBlog.com. Read how to stay young at http://AgingAdvice.org. Educated to be an astrophysicist, he has branched out from there to mathematical modeling in a (more...)
 

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This is my basic opinion.This makes perfect sense.... by Charlie L on Tuesday, Nov 30, 2010 at 2:37:16 PM
We no longer live in a democracy. (Did we, at one... by Josh Mitteldorf on Tuesday, Nov 30, 2010 at 4:17:59 PM
But so many good reasonable things are not done, t... by BFalcon on Wednesday, Dec 1, 2010 at 2:01:23 PM
I don't know how to say this except that Alan Simp... by Ralph Dratman on Wednesday, Dec 1, 2010 at 4:57:44 PM
Yeah, let's shoot ourselves in the foot in order t... by stevor on Wednesday, Dec 1, 2010 at 6:59:33 PM