Tuesday, October 15, 2013

Do Not Increase Debt Limit nor Approve Spending Bill

Open Email to House Speaker Boehner:

Dear Speaker Boehner,
    According to the Washington Times, you have proposed increasing the government debt limit and approving White House spending bill in exchange for repealing an Obamacare tax (defunding).
Bad move! There is no need to increase the debt limit to avoid default on payment of government obligations. There is sufficient tax income to pay bond interest. An increase in the debt limit would only allow the Obama administration to have access to an enlarged kitty bank for frivolous squandering. Approving the White House spending bill would have similar dire consequences.
Fortunately, your own team is opposed to the idea, and in addition, Pres. Obama said that he would veto it. Good move on both sides!
Your strategy must be to refuse an increase in the debt limit and not approve the White House spending bill. In effect, this will keep the government shutdown at a 17% level, which after three weeks, we can see does not have dire consequences. Your refusal to increase the debt limit will force Pres. Obama to accept that refusal. He will not take the chance of an optional default on paying government bond interest.

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