Going Deeper into Debt
Is the Federal Debt Ceiling Necessary or Not?
by Scott Rohter, July 2011
“Big banks are more dangerous than large standing armies, and the practice of borrowing and spending money that will be paid back by the next generation, is stealing from their future.” - Thomas Jefferson, reprisal by Editor
“The ‘Debt Ceiling’ is an impediment! It should be eliminated all together,” according to former Treasury Secretary, and current President of the Council on Foreign Relations, Robert Rubin. He was interviewed recently on the BBC for National Public Radio. Furthermore, “It is an anachronism,” he said, “and it keeps getting in the way.” Gosh darn that nasty little Federal Debt Ceiling! But it keeps getting in the way of what, you might ask? Obviously, the Federal Debt Ceiling prevents our Government from borrowing more money, and Going deeper into debt! It acts as a brake on wasteful and imprudent spending! So is our government in Washington DC overspending?... Well, they are always borrowing more money, aren't they?
Everyone has limits on their credit, and on the amount of money that they can safely borrow. Why should our Federal Government be any different? Why shouldn’t our Federal Government have limitations on what they can borrow? I don’t think credit limits are an old fashioned and outdated idea, or as Robert Rubin called them, “an anachronism!” I heard President Obama the other day positioning himself in favor of drastic cuts in the Federal Deficit. To be specific he was calling for four trillion dollars over the next ten years, in order to get Congress to agree to raise the Federal Debt Ceiling! If that doesn’t beat the cake! What a lot of nerve! He has amassed the largest deficit in U.S. history. He has spent more in the first two years of his Administration bailing out every 'fat cat' in New York City, Los Angeles, Chicago, and Detroit, then any President in US history! He has spent more money than George W. Bush did in the entire eight years of his Administration, and now President Obama is in favor of reducing the Federal Deficit! Is this supposed to be a joke? He gave us this fourteen trillion dollar deficit! Does he think the American public is actually that stupid???... And the media just continue to front for him, and report his new position as ‘matter-of-factly’ as possible, just like there is no hypocrisy in it at all!
Robert Rubin said that the Federal Debt Ceiling is an anachronism and it keeps getting in the way. I’ll tell you something that our so called ‘old fashioned’ Federal Debt Ceiling keeps getting in the way of. It keeps getting in the way of our Government’s expenses spiraling out of control, and our Government spending its way into financial insolvency and fiscal oblivion! That’s why they keep raising the debt limit of course, because our Government spending is out of control! It keeps getting in the way of America spending its way into bankruptcy, and ultimately it keeps getting in the way of their precious New World Order, which is the single most important goal of the Council on Foreign Relations, of which the former Secretary of the Treasury is now the current head. In order to achieve their goal, they have to break our Constitution and bankrupt our country!
So who really wants America to continue to borrow more money, and to sink even deeper into debt and financial insolvency besides Robert Rubin, the CFR, all of the international bankers and financiers that loan us 'big buckets of money', certain foreign governments like China, Japan, and the UK, who are the three top lenders to the United States government, who would also really like to see a New World Order, Barack Obama, Timothy Geithner, the Federal Reserve Board, virtually the entire Democratic Party, and about one-half of the Republican Party? Who benefits when America borrows more money??? Why those with the money of course! And that would be the very same big lenders who loan 'buckets of money' to broke governments like ours, who are now demanding that Congress raise the Federal Debt Ceiling again! That would be the International Banking Community. One of their very own organizations is called the International Monetary Fund (IMF). They also control Standard & Poor's, and Moodys, the two credit rating agencies which are threatening to downgrade America’s bond rating if we don’t promise to borrow more money from their lending partners, i.e. the international bankers and foreign governments! And who keeps pounding the drum to raise the Federal Debt Ceiling, by saying that America is going to default on our debts? Why the national and the international media of course! The same folks who are also promoting the New World Order! I want to make this point perfectly clear. There is absolutely no connection between NOT raising the Federal Debt Ceilng, and defaulting on our National Debt! The US Government has plenty of money! There is 200 billion dollars in revenue coming into Washington DC every single month! We just need to use that money to service the National Debt first, and then learn how to wisely prioritize with the rest of the money! In other words, we just need to learn how to live within our budget!
Unfortunately, America has only three choices. We can print more money! We can cut ‘out of control’ spending to match existing tax revenues, or we can keep borrowing more money! The bankers don’t want ‘The Fed’ to print more money, because that would devalue the currency! It would cheapen the value of our money, and therefore it would lessen the value of their holdings! They don’t want us to control spending so that we can reduce our need to borrow more money, because they are in the business of lending money, and that would be bad for their business. So that only leaves one other option: Continue to borrow more money! The result is that America will go even deeper into debt, and the banking business will be better than ever before!!! Ultimately this will lead America to the brink of bankruptcy, which is one of the three principal goals of the Council on Foreign Relations. Along with breaking our Constitution, this is one of the first critical steps that is necessary before they can realize their final goal of a New World Order!
"A journalist has no better friend than the truth." - Scott Rohter