{"id":370,"date":"2011-07-18T09:16:19","date_gmt":"2011-07-18T13:16:19","guid":{"rendered":"http:\/\/jparnell.com\/blog\/?p=370"},"modified":"2011-07-18T09:16:19","modified_gmt":"2011-07-18T13:16:19","slug":"the-debt-ceiling-again","status":"publish","type":"post","link":"https:\/\/battle4liberty.com\/?p=370","title":{"rendered":"The Debt Ceiling…Again"},"content":{"rendered":"

I am frequently asked if there will be any adverse financial impact if the debt ceiling is not raised. The inference here is that the ceiling should <\/em>be raised to avoid any negative repercussions (higher interest rates, lowered credit rating, etc.).<\/p>\n

I expect there to be some negatives if the ceiling is not raised, but nothing catastrophic. Prudent choices pertaining to the allocation of the limited government funds could address such problems. Besides, even if no \u201cdeal\u201d is reached in time, there\u2019s nothing to keep Congress from addressing the issue shortly after the August 2 \u201cdeadline.\u201d\u00a0But this is not the point.<\/p>\n

Washington is addicted to spending and debt, and this addiction must be controlled. The fallout over the intermediate and long terms from not<\/em> addressing it now would be much greater than what we would experience if we refuse to address the problem head-on.<\/p>\n

Drug addicts experience harsh withdrawal when they stop injecting the substance. This is no reason to continue with the abuse. The federal government\u2019s addiction to liberal spending and fiscal irresponsibility is no different. Now is the time to act. I must admit that I expect the Republicans to cave on this issue. I hope I\u2019m pleasantly surprised.<\/p>\n","protected":false},"excerpt":{"rendered":"

I am frequently asked if there will be any adverse financial impact if the debt ceiling is not raised. The inference here is that the ceiling should be raised to avoid any negative repercussions (higher interest rates, lowered credit rating, etc.). I expect there to be some negatives if the ceiling is not raised, but […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[1],"tags":[],"_links":{"self":[{"href":"https:\/\/battle4liberty.com\/index.php?rest_route=\/wp\/v2\/posts\/370"}],"collection":[{"href":"https:\/\/battle4liberty.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/battle4liberty.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/battle4liberty.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/battle4liberty.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=370"}],"version-history":[{"count":0,"href":"https:\/\/battle4liberty.com\/index.php?rest_route=\/wp\/v2\/posts\/370\/revisions"}],"wp:attachment":[{"href":"https:\/\/battle4liberty.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=370"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/battle4liberty.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=370"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/battle4liberty.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=370"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}