Debt Ceiling

 The news outlets are reporting that the US will hit its debt ceiling limit today.  Most of us don't know what that means really.  Geitner and others are predicting dire consequenses if Congress does not raise the debt ceiling limit, but he believes he can manage this situation until sometime in August by borrowing against federal employee retirement funds.  That must make all those civil servants feel all warm and fuzzy inside.  At some point will retirees not receive their social security checks, active duty and military retirees not receive their DFAS payments, teachers and policemen stop receiving their paychecks?  The federal government has already halted the inter governmental loan process wherein state and local governments can borrow funds to meet their immediate cash flow needs.

The Republicans are adamant that they will not approve a debt ceiling increase unless there are significant ("drastic"?) cuts in spending, meaning entitlements, i.e., social security, medicare, etc.  If they persist the likely result will be the end of the Repubican Party as we know it.

What isn't being acknowledged yet is that the stimulus programs introduced by Bush and implemented by Obama have helped move the country out of a downward economic death struggle.  The financial institutions (yes, I know, many think bankers are the ultimate bad guys) have paid or are paying back the infusion of funds, ,with interest, the automobile companies have paid back their stimulus funds, with interest, Americans with 401 (k)s are seeing their plans recovering and though halting, the unemployment rate is going down.

So, why not stop all of this political brinksmanship.  Act like grownups and listen to your constitutents. Vote for the increase in the debt ceiling, negotiate on spending cuts and tax increases for the superwealthy (and all of us if need be), but don't hold professional fiscal management hostage to improvident, swaggering miscalculation of what Americans will swallow.  A little honesty and transparency, please.