It occurs to me that the entire debt ceiling debate is backwards. Every time President Obama starts debating with Congressional Republicans over anything, but most especially financial matters on which he requires their support, the narrative is always the same: level-headed, reasonable President Obama and the other level-headed, reasonable Democrats could have all of our problems solved by now, if not for those pig-headed, stubborn Republicans who refuse to budge.
The truth is something else entirely.
Every time our government approaches a contentious debate on budget issues, the Democrats are full of posturing, but light on solutions. After all, if tax increases could get us out of our debt problems without killing our nation’s economy, we would all be taxed to the gills and prosperous…but unfortunately for the Left, that isn’t how reality works.
It was just back in December that President Obama was lauding the continuation of the Bush tax cuts, and how they would save money for average Americans. Today, he wants to characterize the Bush tax cuts as tax breaks for millionaires and corporate jet owners – even though it was his own stimulus bill that gave the tax breaks for corporate jets.
But to hear the Democrats talk, everything exists as a closed system: they can raise taxes and continue to increase spending, and the only factor that will effect our deficits is the tax increase. They can raise taxes, but that won’t effect jobs at all…and a tax increase inevitably means an increase in government revenues. The view is entirely short-sighted, and completely at odds with the larger picture.
We could increase taxes, but unless massive spending cuts are implemented soon (and larger than anything the politicians are currently proposing), it will do no good. Even in a static system, increasing taxes won’t drive enough revenue to solve anything other than to assuage the Left’s illogical obsession with classism. In the real world, higher taxes will hurt the already hurting job market, as small business owners have less money to invest in employees, and higher taxes will drive business who can move to take their operations elsewhere. Foreign outsourcing has already been a concern for America for decades now, but now we’re facing an ever-increasing nanny state administration that wants to raise taxes…try to keep that in mind the next time Barack Obama tries to pass himself off as a business-friendly president.
All in all, these debt ceiling talks do little more than provide the Democrats an opportunity to campaign for the 2012 elections. The debt ceiling is only a symptom of our larger deficit problems, and when it gets right down to it, it doesn’t matter whether Congress and President Obama raise the debt ceiling enough to get us through one week, a couple of months, or the next few years – if the politicians don’t get spending under control, we’ll just be having this same discussion again down the road.