Thursday, February 13, 2014

Drug of choice called debt

On Monday we were once again warned how the federal government could run out of money later this month.

Citing the unpredictable rate of tax refund payments, Treasury Secretary Jacob Lew warned Congress that the federal government could run out of money as early as February 27. 2014.

On Tuesday, in what was called the “clean” debt ceiling vote, legislation passed in the House of Representatives allowing the federal government to borrow more money with no strings attached.  This legislation, which suspends the debt ceiling until March 2015, passed with 221 yes votes and 201 no votes.  

Yesterday, the U.S. Senate voted 67-31 to advance this bill to President Obama who will certainly sign it into law well before the February 27th deadline warning by Treasury Secretary Lew.

So we’re not running out of money yet thanks to the power of debt to solve financial problems brought about by never-ending federal government deficit spending.

More federal debt with no strings attached and a debt ceiling suspension until March 2015 are giving our elected leaders happy, inebriated and under-the-influence feelings like a good drug.

Addicts like the feeling coming from drinking alcohol, smoking marijuana or taking other hard-core drugs like heroin.  Our elected officials have their own addiction with their drug of choice called debt.

Pax Domini sit semper vobiscum

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