Monday, April 18, 2011

Missing the Iceberg: Our Last Chance Before 2012

Butch Jackson opened up with a story. Nothing new here. But on this day he may have out done himself. This in fact may be the most intriguing story of Butch's fabled story telling career. It went like this, "These next few weeks may be the best of times for our country or the worst of times. We will know soon. It was 99 years ago on April 15, 1912 the greatest cruise ship that had ever sailed the seas, the Titanic, sunk. They thought they were indestructible and blindly ran into an iceberg. On April 15, 2011 taxpayers of the greatest nation ever in this whole wide world dutifully wrote Barack Hussein Obama tax checks for $2.2 trillion."

"Barack suddenly realized that he was $1.3 trillion short of what he had promised to spend to get re-elected in 2012. Since he couldn't increase taxes immediately without approval of those pesky Republican House members, he realized he needs to continue borrowing money to meet his primary need to buy votes. His problem is that his bank has limited his credit to $14.294 trillion which they call a debt ceiling. So to borrow more he has to get Congress, including those pesky House Republicans, to agree to increase his credit limit or debt ceiling by another couple of trillion or so. Many of these silly new arrivals to Washington, called Tea Partiers, don't want to raise Barack Hussein's debt ceiling unless Washington agrees to quit spending trillions of dollars that their citizens and taxpayers don't have. These 'young gun' Republicans want either major spending caps or balanced budger legislation tied to the increased spending caps. Many are certain that if the tax and spend Dems aren't reined in now, they will spend the next 18 months buying votes for the 2012 election as the ship of state speeds toward bankrupcy."

"Like any ambitious yet incompetent community organizer Barrack Hussein called in his servants, in this case his bought and paid for Treasury Secretary from Wall Street, and asked, 'What do we do now?'. This little Wall Street guy named Timmie Geithner said, 'OK, here is the problem. We are spending $1.3 trillion more than we have. $430 billion of that is interest to our bankers for the money we have already borrowed. Let's tell Congress that we have to pay our debts whenever we receive the bills. We will tell them if we run out of money, which we will soon, and the lenders want their interest payments we can't pay them. Here is where it gets good. If we default and don't make these payments, then the entire financial system in the world will collapse. This is even better than what we told em when we passed TARP and Stimulus. This is our biggest crisis yet. Hell, even most of the dumb RINOS (Republicans in name only) will eat this up. I bet Jumpin John McCain will jump on it like Pelosi on a TV camera'."

"For some reason Barack Hussein then asked an unusual question for him, 'Is this story true?'. Little Timmie's answer was, 'sorta'. 'And in any case true or not, this is so complex, as always, no one will understand it anyway. The press will print what we say, and therefore we will make it true. Hell, Pelosi and Reid will even be able to get these talking points right. It might even wake old Biden up. So we just keep saying these radical extremist (not to be confused with Muslims) Tea Party Members are destroying the world economy by playing politics with the debt ceiling. We are saying that any prudent world leaders, like ourselves, would pursue deificit reduction on a parallet path from the dangerous path of fooling around with the 'full faith and credit of the Unitied States'. Meanwhile you can submit a budget that claims balance 15-20 years after you are safely out of office and running the UN. Meanwhile I am back on Wall Street shorting the dollar and making tons'. It just doesn't get sleazier, I mean easier, than this. How can a guy so short be so crooked?" Butch closed.

Billy Roy posed a question, "Is that the end of the story?"

"Barack Hussein and Little Wall Street Timmie hope it ends there. However, some of those smart young pesky Republicans that can smell bull shit in the next county even without a wind has authored a little bill that says the Treasury has to put lender's claims like for interest ahead of all other payments. This would force the government to have to meet their obligations to lenders, and then force them to have to cut their spending to keep from running out of money. Either that, or raise tax rates which would reduce the $2.2 trillion that is currently being paid in tax revenues. You know when you raise tax rates you reduce tax revenues because taxpayers are smart. This Republican bill is just what the spending addicts who need to buy votes to feed their habit fear the most. That and smart voters."

"Well put, Butch. Damned accurate as well. You caught em red handed," Billy Roy roared his approval of Butch's mini-odyssey. "It is interesting that Hussein will not admit that if the government continues to borrow trillions on end to pay his voters without any semi-believable plan on how we will repay the lenders that we will default. He only screams we default if we don't borrow more. This is aimed at that 3-7 year old idiotic audience and those that are bought and paid for. And of course the press. If someone reaches their debt limit they can still refinance their debt, they just can't add more. And they have to pay the interest from their income. I think I've got it. This system has always worked and always will unless it is circumvented by traitors or crooks or, in this case probably, both. It does force one to 'live within their means', and Obama has said he is for that, right?"

Aunt Martha pulled some specifics off the Cafe's internet connection, "To take the Obama Administration’s threat off the table, Republican Study Committee (RSC) Members Tom McClintock, along with RSC Chairman Jim Jordan, Rep. Virginia Foxx, and Rep. Scott Garrett have introduced the Full Faith and Credit Act. It mirrors a bill in the Senate offered by Pennsylvania Republican Senator Pat Toomey."

"According to an RSC description of the bill, 'The Full Faith and Credit Act directs the United States Treasury, in the event the debt ceiling is reached, to pay principal and interest due on debt held by the public before making any other payments'.”

"Critically, the description notes, 'This bill would merely codify standard Treasury practice'. Looks like Geithner has lied again."

Billy Roy closed it down, "Senator Marco Rubio, who is becoming my number one hero, next to Merle Haggard of course, has proposed conditioning support of an increase in the $14.294 trillion debt ceiling to passage of the Balanced Budget Amendment. He is right to push, and I believe he can't push these scoundrels too hard. This is the biggest fight of our generation. Remember the words of Jefferson, 'he who governs least, governs best. At least we should be able to get down to $2.2 trillion of Washington governance. In fact, we must. There is no reason the world’s greatest nation, under God, should be destroyed for someone’s political gain. Let's get the word out. Hell, I am even goin to take it to the Hubbard City Drug Store. Butch, you take the Dairy Queen, and we will meet back here with the folks headquartered at the Hubbard City Cafe."

Think about getting the word out because this may be our last chance before the 2012 election,



  1. I received some excellent comments from this post. They follow:

    At the household level this is such a simple thing. Why can't our best and brightest get the point. We are broke. We get a job, work harder and cut spending. So simple for us dummies.


    Actually, I thought yesterday was one of your better blogs. I particularly liked the logic behind the two basic consequences of having a debt limit:
    1.You pay for welfare and all the entitlements first and then pay, or fail to pay, for the money you previously borrowed. If you fail to pay, the world economy collapses so the voters have to support the plan or 2) you pay those debts first (supporting the world economy) and then, with what is left, pay for welfare, etc. If the debt ceiling keeps you from being able to pay for all the welfare programs (buying votes), you go to the voters and try to raise the ceiling. Obviously 2) would be much harder to sell to taxpayers. I think 2012 is so critical because it is probably the last election where taxpayers actually outnumber those who don’t pay taxes (which is the situation here already).

    Regards below, I don’t think the budget problem can be solved without addressing the Defense budget; I have been reasonably close to some of the spending there over the years since Auto-trol and can say that spending is out of hand; inefficient, wasteful, and sad to say, corrupt. There is no reason not to include it in the major programs that have to be looked at.

    Keep up the great work!
    God bless,
    Happy Easter,


    Both articles were/are super and yes, the Debt & Debt Ceiling are without question the largest concern for Americans by far..... OR should be !

    Hang Tuff

    I just don’t understand NOT agreeing with this! You are so RIGHT! Increasing the debt ceiling puts us further back and we are not helping ourselves or our future generation. The Republicans have got to play hard ball as you say and they have to start taking the offensive – not the defensive. When are they going to wake up? And I am tired of people complaining about Trump. I will complain if he does what Perot did and either start another party or run as an independent. BUT…we have to have people not afraid to speak out and help swing that pendulum back. The birth issue is NOT trite – it is all about our Constitution. Do I want him as Prez? No, but he does have some function as the Republicans are just sitting around and not doing much of anything. This just gets more abysmal.


    Well said.

    John P.

  2. Another good one:

    I empathize. Seems nobody wants to get into “the weeds”. That’s why we keep electing idiots. I get really pissed at TV hosts who stop guests who are about to explain something that might require a little thought. Mustn’t challenge the intellect. You’re right, but the Republicans don’t seem to be able to articulate the message. They are clearly afraid of mainstream media. We need to say that we either stop this debt crisis or it will be done for us. We won’t like that. It won’t be done by a schedule or according to some plan. It will be a free fall off a cliff. Also, we need to be upfront about the bull that Tiny Tim, our Sec. of Treasury is putting out. Not raising the debt ceiling is not equivalent to default. It just forces us to choose between runaway spending or paying our debt. We will choose to pay the debt. If we don’t draw the line in the sand now, when will we?

    Jim A.

  3. Another comment:

    I applaud you for taking a stand. It's hard to watch our once great nation take a nose dive. Generally the optimist, I am now afraid we have passed the point of no return. That said, I am still praying for a miracle.

    Blessings during this Holy Week.