The So-Called Debt Ceiling
Jan 25th, 2010 | By ecampaign | Category: NewsThe Senate will vote this week on a measure to increase the federal debt ceiling by a whopping $1.9 trillion. After Democrats in Congress pass this resolution, the federal debt will be allowed to grow to more than $14.3 trillion.
Congress just expanded the ceiling in December and they have already spent their way past $12.4 trillion in debt. This week’s measure marks the 14th debt ceiling expansion since 1990.
Maybe it takes a true small business owner, not a Washington insider, to see it — this is an absurd way to run a government, and it has to end.
What’s even more absurd is that in the House, there’s often not even a direct up or down vote on increasing the debt ceiling … by passing a budget that requires deficit spending, House members agree to raise the debt ceiling under the Gephardt Rule, named for former Democratic leader Richard Gephardt. This Rule has been used 31 times since 1980.
This isn’t a debt ceiling, it’s a debt skylight that Congress can open whenever they want. Or a debt chimney, spouting smoke from all that money Congress is burning. Our money.

Since our current representative took office in 1991, the debt ceiling has grown from $4 trillion to its present day level of $12.4 trillion. That’s an increase of almost $27,000 for every man, woman and child in the United States today. Rather than holding the line and stopping the spending, Congress now wants to add another $6,000 debt to each of our tabs.
Big Washington politicians operate in a world where debt in the trillions is no big deal. It’s time to put a stop to this before it’s too late.
We have to start by stopping the spending, and balancing the budget. Congress won’t have the resolve to do this every year, so it’s time for the people to hold them accountable for it by passing a balanced budget amendment. This must be a top priority for the 2011 Congress.
The Gephardt Rule must be repealed, and any legislation to increase the debt ceiling must require 2/3 approval of both houses of Congress. Such a measure is pending before the Congress now, H.R. 4262, introduced by Rep. Steve Scalise (R-LA).
And we need legislation requiring the debt ceiling to be drawn down every year, not raised. It’s time for Congress and the President to make the hard decisions required to restore our fiscal stability as a nation. President Obama is recommending that a panel make thse decisions, but that’s just passing the buck. Congress and Obama must step up and lead; if they won’t, then a new class of Congressmen in 2011 will.







