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  • Morning Bell: In Debt Limit Debate, Higher Taxes Aren't the Answer

    Republican congressional leaders will meet in the White House today with their Democratic counterparts and President Obama in an effort to reach an agreement on the debt ceiling. Reports are sketchy as to whether they will succumb to arm-twisting by the White House, amplified in the media, to cut a deal in which “everyone has to give a little”—or fill your preferred cliché. It is thus an appropriate time to remind everyone that Americans have already given all they can, especially to the IRS, and, no, it isn’t time to raise taxes—on the contrary, it’s time for politicians to curb their spending habits.

    But just in case dire warnings about defaulting on the debt don’t work and the Republican leadership holds its ground today, a small team of Treasury officials along with friends of the White House are carving out a Plan B ploy to borrow more money on its own authority. It is based, to be charitable to its originators, on a dangerously flawed reading of the 14th Amendment.

    The core issue that has Washington in a deadlock is the $14.3 trillion federal debt ceiling—Congress either has to borrow more money to pay its bills, cut spending, or raise taxes—the last option being so unpopular that even its liberal proponents call it by another name: “revenue enhancements.” President Barack Obama would have you believe that the problem is one of priorities, that Republicans are fighting for “tax breaks for millionaires and billionaires, or for hedge fund managers and corporate jet owners, or for oil and gas companies pulling in huge profits without our help,” while he’s fighting for things like college scholarships, Medicare for seniors and cancer research.

    But don’t get dragged into Obama’s rhetorical labyrinth. Spending is the problem; low revenue is not. The trouble is that President Obama wants to keep borrowing, taxing, and spending as far as the eye can see. And that’s no way to solve the problem. Heritage’s Emily Goff explains:

    The historical average for federal spending is 20.3 percent of GDP, but spending will reach 24.7 percent by the end of this year and continue to climb from there.

    By mid-century, funding the federal government under current policy will consume more than half the U.S. economy. Meanwhile, tax revenues will return to their historical average by the end of the decade and then continue to rise.

    Republican leadership should be very careful not to lose their grip on the tax issue. An overhaul of the tax code is long overdue, and it should be revenue neutral and growth oriented. The Wall Street Journal reported yesterday that House Majority Leader Eric Cantor (R-VA) has opened the door to a possible tax compromise that would “endorse ending some business tax breaks targeted by Democrats if they also agreed to renew other business-backed tax benefits.” According to Cantor:

    I have said from day one, we are not for tax hikes on the American people or businesses, and if the president wants to talk loopholes, we’ll be glad to talk loopholes. We are not for any proposal that increases taxes, and any type of discussion should be coupled with offsetting tax cuts somewhere else.

    If the strategy of “closing loopholes” entails taxes targeted at industries that don’t fall under the President’s favor—particularly oil companies—the American people may be the ultimate losers if offsetting tax cuts don’t occur. In the case of oil companies, these tax hikes will take money that companies would otherwise invest in new drilling and cleaner technologies, so the consumers and the environment both suffer. Companies don’t pay taxes; companies collect taxes.

    And at any rate cherry-picking tax hikes here and there is a short-term fix that doesn’t get to the root of the problem—spending. Getting debt under control is vital. Even the International Monetary Fund has warned the United States that it must reduce its debt or face serious economic consequences. Without action, the national debt could eventually reach a staggering 344 percent of GDP by mid-century.

    Nor is this the time to balance the budget with defense cuts. Heritage Foundation President Ed Feulner writes that the military is already suffering from lack of funding and that drastic cuts should not be on the table:

    [W]e’ve been living for a while now off past military buildups. But things wear out. Equipment breaks down, and it can be patched up only so many times before it’s unable to do the job it’s meant to do . . . When we cut too deeply, as we did during President Carter’s time in office, we degrade our ability to defend ourselves.

    If charting a course of tax hikes and defense cuts is wrongheaded, President Obama’s Plan B in the debt ceiling debate is disastrous. Heritage’s Andrew Grossman writes:

    All of a sudden, politicians who have never cared much for constitutional fidelity are citing a little-known section of the Fourteenth Amendment as grounds for President Obama to evade the congressionally-imposed debt ceiling.  Their goal is to punt on spending reductions that would be part of any debt-ceiling deal and are essential to putting the budget in order.

    Their argument, which is based on a creatively devious misreading of the 14th Amendment, would constitute unilateral action by the President to borrow money with no congressional authorization—tantamount to an unconstitutional usurpation of Article I legislative power.

    And today, there are other reports that suggest that Social Security and Medicare reform is back on the table. This is all the more reason that lawmakers and the American public should have at least a full 72 hours to review any deal, given the complexity of the issues being negotiated.

    Washington is at a crossroads. On the one hand, Congress could cave in to the President’s demands, raising taxes in the short run while dodging the nation’s long-term spending problems. Such actions will be neither forgiven nor forgotten. On the other hand, the President stands ready to violate the Constitution in order to achieve his ends irrespective of the will of the American people.

    In the debt limit debate, the reality is that the U.S. government will not default. The President and the Democrats have just about admitted as such by talking about “all the government obligations” being equally important. In other words, they know that our creditors—those who hold our debt—will get paid no matter what.  Not raising the debt ceiling means only that the government will be forced to cut spending elsewhere. And cutting spending is the only remedy to America’s long-term fiscal crisis.

    Quick Hits:

    • The founder of Pakistan’s nuclear bomb program says he personally transferred $3 million in bribes from North Korea in exchange for sharing of technical know-how and equipment with North Korean scientists.
    • Expect oil prices to shoot higher in 2012. Analysts at Goldman Sachs say oil supply will be “critically tight” next year.
    • Citing an international treaty, President Obama, the State Department, and Mexico have asked for a stay of execution for a Mexican national convicted in 1995 in the brutal raping and murder of a teenage girl in Texas.
    • The Department of Homeland Security has warned airlines of the threat of “implanted bombs” used by terrorist groups. And that could lead to additional security measures.
    • VIDEO: Actor Gary Sinise of Forrest Gump and CSI:NY fame says 9/11 inspired him to support America’s military. Watch the exclusive Heritage interview.
    Posted in Economics [slideshow_deploy]

    46 Responses to Morning Bell: In Debt Limit Debate, Higher Taxes Aren't the Answer

    1. Ken Jarvis - Vegas says:

      7 – 7 – 11 FROM – Ken Jarvis – LVKen7@Gmail.com
      I have not been away.
      I am on FBook if you want to talk to me there. Someone asked me – WHY do I read the HF, and WSJ. I read them so I KNOW what the GOP plans are, and I LEARN from YOU ALL Thanks
      gary· 21 hours ago
      The GOP does not control this Country. They have control of ONE BRANCH of the THREE BRANCHES. Did you go to school?

      *** Gary – Murdochs Empire controls the WORLD.
      He is the reason, with the help of others like HF, the economy is not better than it is.
      ALL he has done since he took over the WSJ is BAD BAD BAD on Obama.
      He spins any news to BAD.

      Todd· 21 hours ago
      Ken – you are messing up your messaging. That is what Obama and the Democrats promised. The democratic party is going to be very disappointted in you.

      *** Todd – Correct. Obama DID promise more jobs, that he did NOT Deliver.
      But, remember, he gets NO HELP FROM MURDOCH, and the GOP.

      But, in the last election – the GOP Promised More jobs and Less spending.

      It was just Political BS.

      It won’t come till Murdoch said – Things Will get better. Something he has NOT Allowed since he took over the WSJ.

      Clearhead· 21 hours ago
      Welcome back, K.J. More to the point — Where are all the goodies obama promised during the spewing forth of his campaign lies? You, Ken, would do well to study up on the history of the United States economy and realize that solutions good or bad do not happen overnight.. And as for your question, just MORE KEN JARVIS BS.

      *** Thanks Clearhead.

      History Started – the Day Murdoch took over the WSJ. “Solutions” will start when Murdoch says – Things will get better.


      Kelly McCaffrey· 21 hours ago
      Ken, you are aware that bills must pass both the House and the Senate, then be signed by the President correct? The GOP only has a majority in the House and the House cannot magically make things happen without the Senate and WH.

      *** Thanks Kelly

      I would challenge you that no government can create jobs; a government can simply create an environment that makes things attractive for business to want to invest and grow.

      *** The Reason the WSJ is SO important is because some still regard it as a Financial Paper, but it is the Voice of the GOP,
      and their stated Goal is – One Term for Obama.

      When will YOU ever learn that this is all typical political posturing and pols do nothing in the best interest of the citizenery. Pols from both sides promise everything and in the end deliver only enough to get themselves re-elected.

      *** Agree
      All campaigning should be done on the Internet,
      Twitter, FBook, Blog, Web Site, EMail.
      Online campaigners SHOULD PROMISE TO LISTEN.
      IT WILL get the $$$ OUT of Politics.

      Fight the GOOD Fight, Keep the Faith, and THINGS WILL GET BETTER – they always have.

      • Denise says:

        Ken, did you also read the stats on the cost of those measly jobs numbers coming out of the stimulus package? The cost was almost $280,000 per job! Only the government can drive up costs like that. Government is a destroyer of wealth. It has to take wealth from productive people to redistribute to unproductive people. When will you dying heart liberals get it? The government will print more and more money so your welfare will barely buy a loaf of bread. Socialism is a philosophy of failure. Read the Red Carpet if you want to know the track record of socialism. It has never worked, it doesn't work, and it will never work. PERIOD! If you disagree, site one, just one example from history where socialism has EVER worked.

    2. Fred De Sena says:

      I believe that taxes are the answer…everything needs to be on the boards….America is in decline and a call to arms much as in ww ii is needed. I am in favor of not increasing taxes if the beneficiaries of tax cuts spend the money (not invest). Money needs to be in circulation creating demand for goods and services. In this way we can collect the tax–but no honor system here –spend or be taxed! Also lets face it–it is a slap in the face to Americans to continue to give oil companies subsidies. Unless they use those subsidies to lower the price at the pump. Like a greasy wheel America operates best on cheap energy. There you have it. My recipe for success. We recommend not adding salt, or pork–it's bad for the diet!! Fred De Sena

      • mike says:

        So I should spend the money I am trying to save so that I can retire? Or risk being taxed? If I retire, my job is vacant, you said we need more jobs and we can spend our way there. Truth of the matter is we need to make taxes simply the fee to fund gov't, no exemptions, no deductions just a fair sliding scale paid by all.

    3. Guest says:

      Republicans, i.e. the entire country cannot afford to cave into the administrations blackmail. Stay Strong! Grow a spine, Repubs! Let Obama make an end run around the Constitution. Yet another nail in his re-election coffin. That suits me right to the ground.

    4. fran says:

      Cuts need to be made in every department…even Medicare and Social Security. If anyone knows how to tighten their belt it is the older generation and we all need to sacrifice for the good of our country!

    5. roy says:

      Wow! I am about 7 month away from retirung – or I thought I was. If the taxes go up, along with evrything else and my home value goes down – Makes me wonder about living in a third world country – Make the president and all the rest of our so called leaders live on SS and his 401Like the rest of us! Wonder if our pres. wants to add the hammer and …. to our flag?

    6. Wayne Harper says:

      If obama, the clown that does what ever he must to put on a show for his ego, circumvents congress and the debt issue .. then congress needs start impeachment immediately. Enough is Enough is Enough of this clown.

    7. The Farmer says:

      The Democrats did not compromise when they had complete control of the purse strings, now that the voters have given control of the check book to the Republicans and they have the moral right and responsibilty for it, they must not compromise either!!!! NO! more debt …
      However I fear the R.I.N.O.s are about to cave in again, get the broom America!!!

    8. James Penfold says:

      Mike Keefe is the ever predictable cartoonist for the Denver Post. He had a June 30 political cartoon showing the elephant partying while the U.S. economy stalled like a broken down car as the GOP refused to raise taxes. The Post published my letter to the editor stating that it was John Kennedy 50 years ago who noted the paradox of more money for the federal treasury when taxes are cut. This worked for Kennedy, Regan and Bush until the homes for everyone policy of Frank and Dodd ruined the housing market. Thank you for the sound, conservative work of Heritage on tax policy and myriad of other issues. Keep the pressure on. JL Penfold Greeley, CO

    9. Kevin H says:

      This is where Heritage and conservatives are consistently wrong. How many times do we have to see the conservative economic theory fail – whether it's nationawide or in a state – it just doesn't work. Like it or not, raising taxes is a MUST in the deficir reduction negotiations. It's amazing to me to see fanatic conservatives saying it all must be done by spending cuts. Americans want to see negotiation and compromise, not drawing lunatic lines in the sand.

      Taxes have never been lower…and the wealthy have never gained so much as they have over the past 2 decades – it's time for shared sacrifice – everyone must be part of this.

    10. Bill Thompson says:

      Please explain what is meant by the sentence, "Companies don't pay taxes; companies collect taxes."

      • mike says:

        A company has no money without consumers. You fill your tank with Exxon, shop at Wal-Mart, they take your money and send a portion to the gov't. If you have never eaten at McDonald's they haven't sent any of your money to Washington. A company has no way to print money.

        • Denise says:

          And don't forget that a portion of the money those businesses collect ARE taxes. So the consumers are the ones paying corporate taxes through higher prices of goods and services. I don't have an economics degree from some university but even I get that. President Obama doesn't get it, however. He wants to tax these evil corporations even more which just means you and I will pay more for the same goods and services.

    11. James Penfold says:

      The cartoonist for the Denver Post, Mike Keefe, had an offering for June 30 which portrayed the elephant partying and refusing to raise taxes while the economy is a broken down car. They published my response yesterday that it was Jack Kennedy who noted the paradox of more funds for the federal treasury with lower taxes. And that this worked for Reagan and Bush as well until Frank and Dodd came along with their homes for everyone policy which wrecked the housing market. Keep up the good work at Heritage. It gives us all hope. JL Penfold Greeley, CO

    12. George Colgrove, VA says:

      If we raise taxes by the $400 billion over ten years on the "rich" as the democrats wants this will be passed on to the non-rich in higher prices and job losses. $40 billion a year tax increases will put 784,000 households out of work (@the average household income of $51,000). Voting to raise taxes or raising the debt ceiling will result in these congress people being voted out of office. We are watching. The only way out is cutting spending. So stop this worthless debate and get cutting! We the non-rich are beyond our limits – we cannot afford the negative impacts a tax increase will cause. Taxing the "rich" is exactly the same as taxing the poor! And the net result will be lower federal revenue. Then after further destroying the economy, you will end up doing what you should have done now and that is cut the size, scope and cost of the federal government. The federal government is the ONLY problem here.

    13. RogCol says:

      Higher taxes are not the answer, I agree. But, if the Republicans were not "Stuck on Stupid", they would agree with the "Tax the Rich" starting at $500K and indexed up at increments of $500K and agree to drop tax breaks to big oil (and others it they could get away with it), and all subsidies, I'm on board. This would take the populist rhetoric coming from the Dems and bring the real economic issues to the table.

    14. Lloyd Scallan says:

      Obama is determined to raise taxes. He will, without just reason, withhold checks from the military and seniors to force the Rebps to cave on both tax increases and the debt limit. We had better realize soon just what we are dealing with. In Obama, we have a imposter that was placed in the White House to
      guide the destruction our capitalist system in favor of socialism/communism. In addition, we have so called Republicans in Congress that either have the same ideology as Obama or don't have the guts to do the will of the majorty of the American people. Until we have a choice of a third, conservatrive, political party,
      Washington will never change.

    15. Raven says:

      Do not raise the debt limit. They will keep coming back again and again to raise it. CUT UP THE CREDIT CARD.

    16. James Michael says:

      no increase in debt limit/10% flat tax for everyone and every business no subsidies for anything or anyone/10% rate in on income for individuals and net income for businesses/everyone pays make 100,000 pay 10,000 make 10 pay 1 no deductions.

    17. Al from Fl says:

      As the saying goes, elections have consequences – not that I agree with tax rate increases or closing loop holes that are only a further expansion of the tax code. Now is the time to implement the Fair Tax and do away with most of the political manipulation in dc.

    18. Ben C. says:

      The problem is that Heritage is preaching to the choir. The "left" has done an excellent job painting conservatives as "rich, non caring people." I will gladly trade my business debt load and my checking account with a successful "liberal" business owner – if you can find one. My liberal friends in Ann Arbor will tell you that when money is needed for a worthy cause its the republicans that rise to the occasion. The democrats are nowhere to be found.

    19. randydutton says:

      We can reduce the DoD budget AND make the Department run better.

      1. Bring our combat troops home from stable countries.
      2. Make Operational and Maintenance budgets biennial.
      3. Eliminate Congressional earmarking for projects that DoD didn't ask for nor wants.
      4. Make ALL equipment purchases have a 'whole life' plan. That is, protect equipment from corroding during times of non-use. Much of the DoD vehicles, weapons, and equipment sits idle, yet continues to corrode in tough environments. Technology exists that can inexpensively protect the items when not being used.

      • Denise says:

        I'd say get rid of the Department of Energy. They have failed to live up to their mission statement year in and year out! Also, get rid of the Department of Education. That should be a state responsibility not a Federal one.

    20. Rick says:

      The fact is no leave the debt ceiling where it is and we need to learn to live within our means. It would be amazing if someday a working man won office who has worked and knows how hard it is to survive today. But all our politians have come from money being spoiled filled with greed power and don't have a clue what goes on main street USA. They have ppl who do there work while they look for front page pictures dine on our tab take care of there crooked friends and we the ppl suffer. They ask us to sacrifice well show me any cuts to there needs. If you raise the ceiling you will destroy the future of our kids. It is now the time and show the ppl our politicians have not done there job but raped us all along. The ones who have been there all these years clearly don't know what there doing but being corrupt and there so good at that

    21. Dennis says:

      The President has to show more leadership and responsibility for producing a much-needed budget. Whether it is Federal or State government there never seems to be a revenue problem, therefore it is an expenditure problem. The cuts have to come and changes have to be made in order to get our fiscal house in order. I hope the congress and the President can put together a deal that benefits the American people. We have been put on the back burner in lieu of many other projects that are meaningless. Simply put, if I spent my earnings without regard to a budget and got into financial trouble I would ruin myself and my family. I certainly could not go to my superiors and say look I need more money because I have been reckless with my finances. That is what the President seems to want to do and I believe the Congress has the right to stop him in his tracks. As for the 14th amendment, get a ruling from the supreme court and if the interpretation favors the people, stop the President from doing anything reckless to this great country.

    22. toledofan says:

      You really nailed it on this one, great article and this should be sent to everyone in Washington. I mean the solutions are really pretty simple and what it really should tell everyone is that the Democrats are just holding off the inevidible to get votes; they are just trying to build a voter base of people indebited to government to survive. I heard today that the revenue back to the government will be the highest ever, this year, so, that again signals that we have a spending problem and if we continue to feed the donkey more they will just get fatter, lazier and will ask again for more just to satisfy their appetite. Then nothing will change and the debt will just keep getting higher and higher. Keep up the good work H.

    23. else says:

      They raided the ss tax to fill their need for spending. Then bail out the same people who caused the recession.
      These same people are back on track, receiving their high salaries. Except for the rich, everyone else is in a belt-tightening mode. Their response is to take more from entitlements and keep on spending. Truth is that entitlements are so corrupt that they will also be taking profits from the wealthy.
      Washington is still spending like a bunch of drunk sailors. We need term limits badly. Term limits, not

    24. Frank says:

      The Republicans, again, seem pretty clueless as to how to proceed. There should be NO TAX INCREASES and trying to balance the budget should be done by cutting Federal spending, capping future spending & passing a Balanced Budget Amendment. Congress should include cuts in Defense (we don't need & can't afford bases & troops stationed in over 100 countries around the world & bring ALL the troops home from Europe & more back from Korea)! I'm still not clear what part of the 14th Amendment Obama is saying he will try to use to avoid Congressional authorization to raising the debt ceiling. If he does try that, then impeach him!!

    25. Richard says:

      In the paragraph that starts: "If the strategy of "closing loopholes" entails taxes targeted at industries ……….." The last sentence in the paragraph states: "Companies don't pay taxes; companies collect taxes."

      Say What?

    26. Bigfootbob says:

      Why should there be ANY debt, outside of a situation like WWII where our very existence is at stake?

      I have posed this question several times to my elected representatives. Surprise, surprise…I have never received an answer.

    27. Blair Franconia, NH says:

      Let' go back to what the national debt was in 1981.

    28. jackie delong says:

      Raising taxes and deferring long term solutions is an old government trick that has succeeded many times–if they choose this non-solution solution, it will soon be forgotten

    29. Mike the Bike says:

      If the President wants "to make an end run" around Congress by claiming to be able to use the 14th Amendment to support spending increases, then Congress should let him know that he will be impeached. All Congress should support this because he will have overstepped his bounds on all the Republican and Democratic Senators and Representatives.

    30. Katherine says:

      Very good article. One thing everyone seems to be ignoring is Social Security Benefits have not gone up for two years. How much money was this. Also, to fix it take everyone who has not paid into it – off.

      Medicare premiums have continued to go up – again take everyone off who has not paid into it. Benefits have been cut – how much more money do these two things account for?

      Yet Fed. employees and elected officials have received raises on the backs of seniors.

    31. Bobbie says:

      Challenge their opposition at every given moment like Marco Rubio is doing! Stick to it! Please don't raise anything but American values and principles and freedoms! A big brother teaches and disciplines, he doesn't give in to destruction! Be a big brother to your troubled democrat sister!

    32. F.D. O'Toole says:

      Richard: Corporations are indeed tax collectors. A successful business will simply pass corporate taxes on to its customers in the form of higher prices. If customer demand falls off as a result of the higher prices, the corporation makes less profits and so pays less taxes. If sales revenues can't cover the taxes, the company lays workers off, sells off its assets, or slowly goes out of business.

      Corporations also are useful as whipping boys. Take the oil companies for instance. Obama is always on their backs for their "obscene" profits. Again, the government gets first crack at those profits and the oil companies get all the blame.

      • mike says:

        And corporations have no money without customers! Do these people think the companies print money?

    33. RennyG says:

      Impeachment procedings are warrented. DO IT!!!! Don't wait. These guys are bypassing the constitution with a plan "B", they don't care about the constitution, debt limits, responsibilities etc., etc. I just don't understand why the house leader is playing with these Chicago gangs!! These back door political games are sickining!!!! Just say NO TAXES AND NO DEBT INCREASE!!!! The people will love you because you stood up!!!!

    34. KC - New Mexico says:

      I agree that raising taxes is not the answer that will fix the debt issue. However, fixing the tax loopholes should be a significant undertaking that needs to be corrected. There are many who are in the rich category who pay little to no taxes due to the loopholes. And then there is the progressive tax based system that is flawed and so complicated that fraud is easy and waste is abundant. Fixing the loopholes in the current system will help – but why not just fix the system. Get rid of the entire income tax process and develop and invoke a flat tax based on income. There are no deductions, no exceptions, no exclusions for specific or special interest groups, businesses, etc. Even the poor who only live on government subsidy would pay something based on the amount of subsidy they receive. Everyone pays their fair share! If you can vote, if you are an American citizen, then you would pay the flat tax percentage of the income realized. Simple and easy, no need for IRS, tax lawyers, attorneys, consultants, or computer programs. The plus – the revenue that any administration in Washington needs would be there. The argument about the rich not paying enough would also be gone.

    35. Lacey says:

      Our Government ( Federal) has two obligations to the people of America, our Military to defend us, and keeping the commerce moving around the world, that means world air space, and all oceans, the U.S. does it for all people’s of the world, without these young warriors, who are rebuilding a world, who enforces all America’s, Freedom, and Peace loving people, our military is worth more than any of those 537 bone heads in D.C.
      I love Conservatism and America!

    36. Mark Smay says:

      The current trend now is for this president to site the 14th ammendment for authority to borrow on his
      own without congressional approval. How insane is that ! Why is it so hush-hush to state, boldly,
      that this president MUST BE IMPEACHED before he completely destroys your beloved country and
      mine. Join Larry Klayman, Attorney at Law of Freedom Watch,and stop this TRAITOR before he
      allows America & Israel to be destroyed by Islamists (among other high crimes & misdemeanors.)
      Lets get on with it.

    37. Dr. H.D. Sinopoli says:

      They will increase the debt level and the lifer Republicans will cave…and Heritage will continue to support them…

    38. Eagle Eye says:

      There is such extreme radical big government leadership in the White House and Senate, and some leftover in the Congress that I am afraid there will be no point of return for the American Financial and Political Foundation. May God have mercy.

    39. Denver says:

      All taxes charged to businesses AREN'T absorbed or choked down by those businesses .They are logically included in the price of their goods and services therefor PASSED ON to the customer.OBVIOUS EXAMPLE: look at the tax notice on the gas pump when you fill up. That's included in the priceYOU PAY!!! The gas retailer collects those taxes and sends them in to the govt. HOPE THIS REVELATION CLEARS AND CHANGES SOME MINDS!!!!

    40. Karl Casorso says:

      Why is it that Cantor voted every time (4 Times) under Bush to raise the the Debt ceiling, but now finds it a rediculous idea. Republicans are just as happy spending our money as any other group and proven that throughout history. Wake up America.

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