Debt Ceiling Showdown: Obama Vs. ObamaSubmitted by Marc Clair on Tue, 01/15/2013 - 02:50
With the soon-to-be-departing his role as Treasury Secretary Timothy Geithner recently issuing a letter that the U.S. government will once again reach the debt ceiling sometime in mid-February or early March. This of course means another round of dram where politicians will put on a dog and pony show for several weeks arguing about yet another manufactured “crisis” of their own creation, before predictably settling on some sort of deal which maintains the status quo while ensuring that the real problems – rapidly expanding government spending, debt and future unfunded obligations – remain completely ignored.
We’ve argued that changing the party in power never changes policy and this certainly holds true when it comes to the debt ceiling debate. Republicans are opposed to raising it now while a Democrat is in office, while they had no problem with it being raised seven times during the Presidency of George W. Bush. Predictably, Democrats were also opposed to raising the debt ceiling during Bush’s presidency and completely support it now. The end result of this political wishy-washyness is that the debt ceiling is raised every single time. So no, the debt ceiling “showdown” between the Democrats and Republicans in Congress will be just another in the long line of boring, played out political dramas that those that just can’t help but follow these things will be
A far more interesting showdown on the subject of the debt ceiling can be found by contrasting the positions of Barack Obama and…Barack Obama!