For my fellow conservatives, I know this will ignite a firestorm of anger that I’m “betraying” xyz cause but hear me out before condemning me to the Apprentice desert island of misfit RINOs.
President elect Donald Trump said the following today:
While this might seem insane, allow yours truly to present a case one rarely hears from these pages but:
Trump is right.
There is no constitutional provision for a so-called “debt ceiling” nor is the a provision for a balanced budget. The creators of the US Constitution had an original idea that to prevent debt and deficits by using a sound money principle based on the gold standard, but that was blown up by Nixon and Volcker in 1971. Ever since then, the political Illuminati have used the cover of “responsible spending” and a debt ceiling to create, exploit, then defuse debt crisis after crisis more often than I hit the men’s room; all for personal gain.
The following is a short, simple, and concise reason as to why the Congress and the con artists using it for political purposes should follow Trump’s lead and get rid of the debt ceiling:
Let the private markets decide.
Do what?
Well wait one minute before my fellow conservatives go full huff and inhale a whiff of my premium Dominican Republic cigar smoke some 500 miles from my back porch and go into convulsions.
If there is no debt ceiling, others determine the interest rates on debt; not the Federal Reserve, not the President of the United State, not the US Treasury, and especially not the clown shows of the House and Senate.
Open markets domestically and overseas will determine what the American people will pay for interest on this obscenity of a national debt.
Does anyone really think the American idiocracy of a population would tolerate having a US 10 year treasury with a yield of 17% or short term bills above 12% to borrow against the debt our corrupt political elites create?
Not for long.
Let there be no limit, no ceiling, no training wheels, just let it ride as Trump wishes.
Then let’s see if Americans are ready to grow up and accept responsibility for all the stupidity of the last 50 years by voting many of these useless mouth breathers out of office.