The Horse Sense Blog compares the nonsense in today's news with good ol' fashioned horse sense


“…I shall speak forth my sentiments freely and without reserve.… It is only in this way that we can hope to arrive at truth, and fulfill the great responsibility which we hold to God and our country. Should I keep back my opinions at such a time, through fear of giving offense, I should consider myself as guilty of treason towards my country, and of an act of disloyalty toward the Majesty of Heaven, which I revere above all earthly kings.” - Patrick Henry, March 23, 1775


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Wednesday, August 12, 2015

No, The Lack Of Increase In National Debt Is Not Good News

The Horse Sense Blog compares the nonsense in today's news with good ol' fashioned horse sense.

Here's the Nonsense:  Our government officials and elected leaders are working hard to bring spending under control and we can see it by the fact that the national debt hasn't increased for the past 5 months.

Here's the Horse Sense:  Our debt is increasing more than ever and the only reason we can't see it is the game they play with the numbers.  The fact is that both parties are doing nothing to stop the spiraling debt that is destroying the future for our nation.

So, you might have heard that the national debt has been frozen at $18,112,975,000,0000 for the past 150 days.  Contrary to what some might want to think, this does not mean that our government has stopped wasting money.  No, once again they're just finding new ways to spin the numbers so they can get what they want without being subject to legal restrictions.  

CNS News is reporting that our national debt has been frozen for the past 150 days to avoid the statutory restriction that requires congressional approval if it passes the limit set by Congress, which is just $25 million higher than where the debt stands right now.

Treasury Secretary Jacob Lew has sent letters to Congress, starting back on March 13, telling them that the Treasury would use "extraordinary measures" to maintain the debt at its current level for an extended period of time.  Subsequently he has sent additional letters affirming what Treasury is doing.  

Lew has blamed their doing this on the fact that Congress hasn't increased the debt limit.  Now let's not for one second think that Congress is doing their job by holding the line on debt.  The Republicans always wait until it's a last minute crisis and then cave and raise the limit.  They will do so again the next time they have to.  I will bet on it.  They don't care that they are selling us down the river with debt levels that we are almost guaranteed to be unable to repay.  

When we look a little deeper we find out how Treasury is doing this.  The CNS article says:

The Treasury has also posted Frequently Asked Question sheets that explain the actions the Treasury takes during a “debt issuance suspension period” and their statutory basis.

The Congressional Research Service has also explained it.  “Under current law, if the Secretary of the Treasury determines that the issuance of obligations of the United States may not be made without exceeding the debt limit, a ‘debt issuance suspension period’ may be determined,” the Congressional Research Service said in a report published on March 27. “This determination gives the Treasury the authority to suspend investments in the Civil Service Retirement and Disability Trust Fund, Postal Service Retiree Health Benefit Fund, and the Government Securities Investment Fund (G-Fund) of the Federal Thrift Savings Plan.


“In addition,” said CRS, “this gives Treasury the authority to prematurely redeem securities held by the Civil Service Retirement and Disability Trust Fund and Postal Service Retiree Health Benefit Fund.”


So, essentially they're stealing from retirement and disability funds by not paying into them as they should be.  They're mortgaging those funds to continue down their current spending path.

Do you notice how there is no effort being made by Treasury or any part of this administration to reduce or even control spending?  And what's worse is that YOUR members of Congress aren't doing anything either.  We elected them to stop Obama's destruction of our nation and they do NOTHING.

This is a perfect example of why Americans should be scared for our future.  Washington is so busy playing games with the numbers that I suspect that none of the numbers we hear from the government are real.  It's all a shell game and us taxpayers are the suckers for letting them get away with it.

It's time for change in Washington.  That means BIG CHANGE by replacing the vast majority of people in both parties in the House and Senate,  In addition, we must elect a president who will stand up for America and fight to make our nation stable and strong again.