Invest Intelligence When It Realy Matters
The Reality of the Debt Ceiling Drama
Over the past several weeks, the media has had a field day covering the debt ceiling talks between both political parties. It’s been dominates news headlines for more than a month. Prior to the latest distraction by the media, the focus was Casey Anthony, followed by Congressman Weiner, then Casey Anthony again.
I wasn’t even aware how large of a media campaign on this topic was (since I don’t waste time watching TV) until I was visiting some relatives for a few days. During my visit I was exposed to the media circus show that my relatives had been glued to.
I have not discussed the debt ceiling talks, other than brief mention in our research publications. The reason why I have not spent time discussing this topic is because it is not really worth mention. In short, it has been a complete fabrication engineered by both parties as a manner by which to muster political power for the 2012 elections.
Everywhere you look you see people talking about it. It’s shocking to see how people believe anything the media and Washington keep repeating. I would have thought that at least some Americans learned not to trust Washington or the media after the WMB charade.
Yet, everyone else seems to think the issue is critical as discussed by the media. Indeed, it is remarkable to watch American puppets who actually think the debt ceiling issue is relevant. If you have been glued to the TV to hear the debt ceiling drama, you have been wasting your time.
In order to keep things grounded, you need to understand that several forces are touting a debt default as a manner by which to exploit people for political and financial gains.
For instance, late last year Meredith Whitney discussed her ridiculous predictions of municipal defaults on 60 Minutes. The piece was journalism at its worst, designed to create drama and boost the dwindling ratings 60 Minutes continues to receive. I set the record straight on Whitney.
Here, I present the realities of the debt ceiling issue. However, I will not spend much time on this topic because I can think of several other ways to spend my time more wisely, such as sleeping.
Let me point out a few things so you can fully understand the realities of the debt issue.
With about $14.3 trillion in total debt, Washington is looking to do something that has served more as a gesture than anything else. For nearly 50 years, Washington has raised the debt ceiling by more than 70 times. It has been this trend of raises that has enabled fiscal mismanagement by Washington for decades.
Does Washington need to rein in spending?
Certainly. However, the current debt ceiling drama has been engineered in order to mentally prepare Americans to accept cuts to vital programs, while ignoring Bush's tax cuts for the wealthy and continuing the most costly and unnecessary war in history. As a part of these theatrics, politicians from each side of America's fascist government are using the drama they have created in order to further their own political aspirations.
So what is involved in raising the debt ceiling?