Top Of My Head

Thoughts on everything from Politics to Video Games

Date: July 14, 2011

Jon Stewart Agrees…

I’m not alone, even Jon Stewart thinks Marcus Bachmann has something to hide.

“He’s so gay, he calls Top Gun that volleyball movie.”  I just love how Bachmann refers to the bi-curious as Barbarians (I’ve heard the whole “interview” and he’s talking about the bi-curious.)

Me think thee lady doth protest too much.

Bachmann and the Debt Ceiling…

Michele Bachmann wants you to believe that she’s fiscally responsible.  She wants you to believe that she and the Republican Party had nothing to do with the economy.  She wants you to believe that the stimulus package was a waste of money and didn’t save jobs.  She wants you to believe that raising the debt ceiling right now would be bad and she’s never voted for a raise.

She’s lying on all points.

Back in April, she voted for Ryan’s budget – the one that changes Medicare and lowers the rich tax rate to 25% (10% down from the 35% they pay now).  The Budget wasn’t balanced – the tax cuts would add more to the deficit than they would “save”.  (You can’t cut income and revenue and pay off debt, it just doesn’t happen.)  If Ryan’s budget had passed the Senate, it would’ve necessitated the raising of the debt ceiling.

That’s not fiscally responsible.

Here’s something else (I’m going through her voting record):

Bachmann voted against the Pay As You Go resolution.  The one that states: ”Vote to pass Title IV of the resolution that amends Rule XXI to require that any tax cuts must be offset by either a different tax increase or spending cut, and to require certain listings of congressional earmarks and limited tax and tariff benefits.

See, apparently, she doesn’t understand how fiscal responsibility works.  You can’t cut revenue without cutting spending.

I’m going to stop here.  I’m going to go through her votes.  I know this woman shouldn’t be President, but I think the rest of the country needs to know it.

Debt Ceiling Questions and Answers

What happens if it is not raised?

  • Our National Credit Rating is downgraded.
    • Costs Nation more to borrow money.
      • Sends tax revenue to pay interest, not government programs.  Bad for the economy, bad for taxpayers.
    • Harm world economy if US does not keep Triple – A rating.
  • Payments not made because the Country is out of money.
    • Social Security recipients, Military personnel and federal workers won’t be paid.
  • The Stock Market – US investments – could sink

When did the Debt Ceiling begin?

  •  “The statutory limit on federal debt began with the Second Liberty Bond Act of 1917.”1 This allowed the financing of WWI. Later, the debt ceiling was raised for the financing of WWII.

How many times has the debt ceiling been raised?

  • I couldn’t find how many times it has been raised since enacted, but I did find that it was raised 38 times in the last 30 years.

I found the most interesting paper at the Treasury.gov while I was researching this article.  I think it explains the debt ceiling and the truth much better than I could.  

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