• The Heritage Network
    • Resize:
    • A
    • A
    • A
  • Donate
  • VIDEO: Debt Ceiling Part 2 – Coming to a Theater Near You

    As Speaker John Boehner (R-OH) pushes the debt ceiling debate back another month, Americans remain skeptical about how such legislation can really help solve the current financial crisis.

    And while much ado has been made regarding the vote, it is really beside the main point of our economic distress. When considering the nation’s $14 trillion debt and bankrupting out-of-control entitlement spending, it is ridiculous to focus on how much more to spend rather than how much to save.

    This year’s debt ceiling vote is only the beginning, as America attempts to climb out of the debt-filled hole we’ve dug.

    Heritage’s Stuart Butler appeared this week on ABC’s Topline to speak about the debt limit vote and what it means moving forward:

    We have such a surge of spending now and over the next several decades that unless we have to have a permanent fix to the spending side of the equation – particularly entitlements — we are going to see these kinds of debt ceilings practically every year for the future.

    So while liberals pontificate about the perils of a no vote on raising the debt limit, the reality is that this vote is just one of many to come. Where does the spending end? Answering that question means dealing with entitlements head on – something those same liberals refuse to do.

    The only lawmaker who has offered a real plan to address America’s entitlement crisis is GOP Budget Committee Chairman Paul Ryan (R-WI). Without tangible and deliberate moves to fix the system, Butler says America’s creditors will “start to get nervous if they think there isn’t a determination to fix the problem in a long term way.”

    Social security, Medicare and Medicaid eat up nearly 2/3rds of the federal budget every year – and the numbers are only increasing as baby boomers get older. There is a finite amount of money for these programs and the only choice we have is to fix them.

    As Butler said:

    In addition to the very few people like Congressman Ryan,  who have put forward a serious proposal voted on by the House, those who have different visions have actually got to come up to the plate and put those forward…You can’t  have a negotiation where essentially only one side is showing its cards and the other side is not.

    We’ve been waiting two years for the Democrats to come up with a budget. They can complain all they want about the Ryan budget but actions speak louder than words.

    Posted in Economics [slideshow_deploy]

    2 Responses to VIDEO: Debt Ceiling Part 2 – Coming to a Theater Near You

    1. Redfray, Pea Ridge, says:

      Ms. Andersen, this is a good article. Nevertheless, most American voters do NOT watch actions when they vote. The politician is elected by looks, money, charisma, or something ethical, but by no means does the voter check the background of a person running for office. For instance, many elected officials have voting records themselves, which should be viewed by all before voting for them. Some of our most popular people have voted us right into bankruptcy by raising taxes everytime they vote. Do people care, NO, as long as they get what the want!

    2. rml42 says:

      I agree. Let's look at Florida. The republican Scott bought the governorship with several million dollars earned by having unreal profits on health related companies. Never mind that in court he took the fifth many times. Promised jobs (Let's get to work) but he promptly forgot it! Florida will probably fall in education from 40+ to 50 but who cares? Let's get to work!

    Comments are subject to approval and moderation. We remind everyone that The Heritage Foundation promotes a civil society where ideas and debate flourish. Please be respectful of each other and the subjects of any criticism. While we may not always agree on policy, we should all agree that being appropriately informed is everyone's intention visiting this site. Profanity, lewdness, personal attacks, and other forms of incivility will not be tolerated. Please keep your thoughts brief and avoid ALL CAPS. While we respect your first amendment rights, we are obligated to our readers to maintain these standards. Thanks for joining the conversation.

    Big Government Is NOT the Answer

    Your tax dollars are being spent on programs that we really don't need.

    I Agree I Disagree ×

    Get Heritage In Your Inbox — FREE!

    Heritage Foundation e-mails keep you updated on the ongoing policy battles in Washington and around the country.

    ×