Tea Party Lies about Raising the Debt Ceiling

By Michael Boynton

The Tea Party wants Americans to flood Capitol Hill with demands that

Republicans stop compromising with Democrats.  The Tea Party wants Republicans to refuse to raise the debt ceiling implying that if the debt ceiling is not raised then the U.S. government cannot spend more money and it cannot borrow more money.

The Tea Party confuse the debt ceiling with spending “on the Obama Agenda.”  The Tea Party implies that if the debt ceiling is not raised, then President Obama will not be able to spend any money on his agenda.  The Tea Party ignores or forgets that most U.S. government spending is for programs mandated by law or for usual functions of the U.S. government that existed before Obama and will exist after Obama.

U.S. federal government debt equals 100% of GDP that the U.S. would be in a precariously position.  However, the U.S. federal government debt has equaled or surpassed 100% of GDP before (during WWII, 1945), and the U.S. did not become a “banana republic” or otherwise fall apart.  Let us not forget that the Republicans fondly remind us that the U.S. is now fighting three wars (Iraq, Afghanistan, and Libya) plus combating terrorism (though when Osama bin Ladin will be indicted much less captured or killed is anyone’s guess).  I am not citing Japan as a good example, but people should realize that the Japanese government debt was about 200% of its GDP before the March 11, 2011 earthquake and tsunami.

Please see Tea Party call to arms below:

Dear Fellow Taxpayer:

Time is short, and I need your help.

The new Republican leadership in on the verge of approving FULL FUNDING AUTHORITY for the Obama Administration’s insidious – yet resoundingly rejected – agenda for America.

Your action is needed at once.

You and I can – in fact, MUST – send the GOP leadership an unmistakable message right now, BEFORE the disease of Republican compromise infects Washington once again.

If Republicans cave in and join with the Democrats to raise America’s debt ceiling above the already staggering current limit of $14.3 trillion, Obamacare will be funded, the bailouts will continue, and out-of-control federal bureaucrats will stay fat and happy – feasting on another wave of taxpayer money while our nation’s economy continues to sink.

That’s why I need your help today – RIGHT NOW! – in telling the Republican leadership:

NO NEW DEBT FOR THE OBAMA AGENDA!!

It’s vital you fill out your petition below to Speaker John Boehner and other Republican leaders and submit it without delay. Please do so at once… because Boehner and others are about to sell us out on this bellwether fiscal issue, only months after the momentous election.

Let me explain.

As we have reported on fully in my financial and self-reliance advisory Independent Living, the Federal Reserve is already printing some $75 billion every month to service massive federal budget deficits and allow the federal establishment’s unchecked expansion to continue.

This massive subsidy to rampant federal spending was never voted upon by Congress or the American people – at least $600 billion in new money is being printed and given to the insolvent federal government – completely beyond the control of democratic processes that define a free America and further destroying the value of every dollar you earn, spend, save, or invest.

The only way to put a stop to this insanity is for Congress to REFUSE to raise the debt limit. A congressional vote is scheduled in just a few days, which is why you must…

Send Your Petition To Oppose

More Government Borrowing NOW!

Responsible Members of Congress who say they plan to vote “NO” on increasing the government’s reckless plan of borrowing more money are being derided by big-spenders and other statists as “The Shutdown Caucus” (a reference to the possibility that parts of the federal government could be shut down if the Treasury isn’t given even more credit).

Let’s flood the Republican House and Senate leadership with a sea of grassroots petitions bearing the unmistakable message: STOP digging the debt hole deeper!

Our national debt is already 90% of gross domestic product (GDP). By increasing the debt to 100% or more, America could join the ranks of banana republics which have destroyed their currencies and plunged their economies into chaos.

Make your voice heard now – tell the GOP leadership to do the right thing and vote to cut the national credit card in half – “Step One” to restraining our out-of-control federal government.

No more federal debt on the backs of our children and grandchildren!

It’s urgent you sign your petition right now – and help send a message loud and clear.

Yours in Freedom and Prosperity,

Lee Bellinger, Publisher

Independent Living

P.S. Help me send the message to the incoming Republican leadership, before the Republican disease of compromise infects Washington once again:

NO NEW DEBT FOR THE OBAMA AGENDA!