The debt ceiling is raised and the country is saved. Well, at least our credit rating was saved. We were about to become a country who has to use a buy here, pay here, car lot to move our armies. It would of been embarrassing.
Not only that but also when our poor went to the store and their food stamp card was denied it would of looked bad to the countries who think we are still smart enough to run a country this size. Boy are they fooled.
We were about to ruin our credit over a simple arbitrary number that only we and Denmark possesses among the industrialized nations. Yes that is true, only the giant economic power, America and the small Scandinavian country, once feared for their Viking raiders, have a debt ceiling.
Denmark chooses to have theirs so high it can’t and doesn’t effect monetary policy. Much like ours didn’t until recently.
But effect it has and wow was it close to ruining us.
We have now fixed a problem. Of course it was completely self imposed and I am sure we will hear about the greatness of our leaders solving the mess they made. They will go on and on about how they came together to avoid financial ruin. The greatness of their own voices will impress themselves highly.
It will be sickening.
Let me tell you in simple terms what they did. They did exactly what my wife and I just did. Us and America have a debt ceiling. Ours is much lower. For example purposes – we will say it is $4000 a month. America’s is more than 14 trillion. Recently my lawn mower broke. We can not afford a new mower without exceeding the debt ceiling we have imposed on our selves. We charged a new mower on a credit card. The payment will put us over our self imposed debt ceiling (budget). So we decided either we can have a lawn ten feet high and neighbors who hate us or we can raise our spending limit $50 dollars a month and afford a mower. We raised our limit.
Just like America’s leaders we justified this by promising ourselves we will cut back over the next year or two or ten as in America’s case, till the mower is paid for in full. We, like America, will not do this but it makes me, The President, Speaker Boehner and Senator Reid feel better by saying it.
Feel better or not it really doesn’t matter. America has the means and the assets to obtain credit to cover our debts. My wife and I also have enough means to cover our debts.
So all our leaders had to do was say, “Lets pay the immediate bills and tighten the belts next year.” Like my wife and I did.
So why did it take several months and a whole lot of arguing?
My guess is; their grass doesn’t grow as fast as mine.