We are running an annual deficit of nearly $17 trillion and climbing. Our unfunded liabilities such as Social Security, Medicare, Medicaid and now Obamacare makes the debt, by one estimation, nearly $90 trillion. There is not enough money in the universe to repay this debt – yet they want more. Always more. In his Oct. 8 press conference, President Obama made the outrageous claim that raising the debt limit ceiling will not increase the debt. Really? Then why raise it? The Treasury takes in well north of $200 billion a month. Our payments on the debt barely total $38 billion. As long as those payments are made, there is no default. It is a purposeful lie that is being told to the American people.
The Founding Fathers had the foresight to know that one day our system of government could be governed by people who are virtueless and without honor. They would no longer protect the Constitution, no longer protect the individual and the individual’s rights, but instead pander to factions and opt to grow and foster an all-powerful, centralized government with unlimited power. The Founders were wise men.
In Federalist Paper 58, James Madison wrote that the House of Representatives should be the body that controls the purse strings: “The House of Representatives cannot only refuse, but they alone can propose, the supplies requisite for the support of government. They, in a word, hold the purse – that powerful instrument by which we behold, in the history of the British Constitution, an infant and humble representation of the people gradually enlarging the sphere of its activity and importance, and finally reducing, as far as it seems to have wished, all the overgrown prerogatives of the other branches of the government. This power over the purse may, in fact, be regarded as the most complete and effectual weapon with which any constitution can arm the immediate representatives of the people, for obtaining a redress of every grievance, and for carrying into effect every just and salutary measure.”
It is way past time for House Speaker John Boehner and the Republican-controlled house to rein in this out-of-control spending – just as the Framers intended. Mr. Obama, the Democrats and, disgustingly enough, some Republicans will disagree. Tough. If Boehner and the Republicans cave, the future of the Republican party will be seriously in doubt. Mr. Obama and Senate Majority Leader Harry Reid must be reminded that they are not monarchs. They are part of a governmental system that was designed, with good reason, to be adversarial.