Monday, April 11, 2011

Sen. Paul's Letter.

Senator Rand Paul, R-KY, sent out an open letter to his colleges today expressing his dissatisfaction with last week's "compromise" to pass a budget which will be the highest deficit budget in our history as a nation.  He rightly calls on his freshman class (elected last year) to oppose any further bill introduced that will continue to delude and lessen the campaigned on pledge of a 100 billion dollar cut.

Senator Paul rightly adds that these "cuts" are little more than reductions of spending...that nothing is really being cut.  Paul is fighting, it seems, against the whole Washington spin, sticking to his guns, principals, and values in regards to why we sent him to Washington in the first place.  He is a rare politician to watch.

The full text is on his website:

Debt Limit

I have a credit card.  Thankfully, I've been careful about how I use it and when I use it.  But like most forms of credit, I have a limit to just how much I can charge.  Well, the United States has a similiar debt cap.  And now, because we are running out of credit lines, Congress will vote to raise it some few trillion dollars.  It would be interesting if every time I got close to my limit I could just call in and ask for another thousand or two in lue of being credit-less.

Why can't the federal government make due with what is has? We could do to have some common sense on this issue.  Like everyone with credit, we understand that the higher the debt, the more the interest fights back the principal...and we are left in a debt loop.  Can we ever crawl out?

The United States defaulting on its debt is a truly scary scenario to think about.  Especially if you thought this last recession was bad.