The key issue at this point becomes the fact that hitting the debt ceiling doesn't force an automatic default or a government shutdown. Revenue continues to come in to the federal government. There's simply a gap between how much comes in and how much the government is supposed to spend....From Stink Progress
I never realized that government is SUPPOSED to spend the money it "budgets." Silly little me, I always thought it was choosing to overspend.
So imagine my surprise when I tried this out in the real world. I went to my unemployed neighbor and informed him that I'm supposed to be driving a car that has 4 hubcaps. So I needed him to fork over one of his. Nevermind he only had four, and if I made myself "whole" then he wouldn't be.
All I know is he better hope I don't lose one three more times....because then his ass is supposed to be grass.
What would I do without 40 watt bulbs of liberal brilliance like the one provided above by Matthew Yglesias? Every business I've ever worked for developed budgets based on the money that is available from revenue.
This must be why Obama keeps chiding the private sector to "step up" and just hire people already, because there are people out there that they're SUPPOSED to employ!
If government is SUPPOSED to spend what it budgets, guess what liberals think you're SUPPOSED to do...
Tax increases, particularly if targeted at the wealthy, show themselves again and again to be among the most popular ways to reduce the budget deficit.....
If you've gotten lost, the first thing to do is try and go back to way you came. After a decade of spending increases and tax cuts, that's what a package of spending cuts and tax increases would do. There's nothing radical about that notion, nothing that should force a halt to discussions and the sort of rhetoric we're hearing from the Republican side.
More from Ezra Klein here
Oh, is popularity a determinant factor of good policy now? How worried were liberals about popularity polls when they jammed down ObamaCare?
For a political party that prides themselves on nuance this is fantasitically two-dimensional rationale for tax hikes in a down economy. This is the end of the fiscal rope, and if debt were a foreign country that doesn't rhyme with "China," liberals would've spent stimulus money on white flags from France already.
Like I mentioned before this is more about Democrats futile effort to procure increasingly scare oxygen to keep their big government pipe dream on life support. Liberals are asking the country to accept the idea that the America we were raised with is over and done. Therefore government should, like the fat lady it is, be allowed to belt out a rendition of "Let Freedom Ring" while she sits on taxpayers.
Klein can site studies (in his column linked above) about "stabilizing" the debt (not prevention of it increasing, and definitely not reducing it...psssh!) by expiring the Bush tax cuts put out from groups funded by...........George Soros........all he wants, but no amount of liberal number dropping will hide the inescapable fact that the structure of govnerment must change, because even in the estimation of Soros's flying monkeys our debt still would've risen by trillions.
Fiddling with tax increases, even when it's in front of a backdrop of spending cuts (which was around $200 billion/year or just under 20% of the deficit, when talks stalled), is mathematically impossible to end our current deficits, much less bring down the debt.....even if the economy was rocking out like a Weiner Twitter party this would never be a feasible approach to solving the problem....
Liberals need the tax increases because they need to continue justifying their existence in American politics. Like any private sector business that can't sustain its size, government can't just cut spending, it has to shrink down to a size it can manage, period, end of story. This is government by and for the people, not by and for the ego of an increasingly defiant, arrogant and desperate liberal ideology.