The Magical Debt Limit

Benjamin Franklin said: “Laws too gentle are seldom obeyed.”

Our government has accumulated so much power that it is impossible for it to be rendered impotent. Once an entity—in this case, the federal government—accrues enough power, they can step outside the bounds of the law, even laws that they made themselves. Not a person can stop them, because the powerful own everything and everyone. We can complain and protest; the few good politicians can make an effort, but in the end, we are the ones rendered impotent.

The greatest example of the federal government failing time and time again to follow the law is the national debt. We have what is called a “debt ceiling,” and when we reach the top, instead of cutting spending so that we may not dig ourselves further into poverty, we just raise the ceiling. Imagine hitting the $5000 limit on your credit card, and telling the credit card company: “Just raise it another five G’s.” Then imagine the credit card company saying: “Sure!” That would never happen, but the fed does it all the time.

According to CNS:

The Treasury Department’s Financial Management Service (FMS), which publishes both the federal government’s official Daily Treasury Statement and its official Monthly Treasury Statement, is reporting that in July the federal government ran a deficit of $98 billion but that the federal government’s debt remained exactly $16,699,396,000,000 for the entire month…even as the Treasury was running up the $98-billion deficit it reported in the July Monthly Treasury Statement, every one of the 22 Daily Treasury Statements published for July said the Treasury had closed out the previous business day with exactly $16,699,396,000,000 in debt.”

Apparently, Treasury Secretary Lew sent a letter to Speaker Boehner saying that he was going to implement “the standard set of extraordinary measures” so that the debt didn’t go over the limit.

So, what is happening here? What I’m getting is that the Treasury Secretary is essentially cooking the books. The debt is staying static, while we continue to spend more money. I have several questions:

1. What is the point of the debt ceiling if we can just pretend we aren’t spending money?

2. Without a debt clock, how will Americans know how much is being spent? We are already in enough darkness as it is. Now we aren’t privy to our national debt?

3. Is this legal? Given the information we have, it stands to reason that we’ve gone far over the debt ceiling by now, which means laws have been broken.

4. If laws have indeed been broken, who will pay the price?

Of course, out of this situation will come nothing, because politicians are like oil. No one will be held responsible, the debt will continue to rise, and everything will go forward like nothing ever happened. Where am I living? Are these “extraordinary measures” being taken by Lew magical? Is witchcraft involved? Because that’s the only way this could ever work out.

Laws too gentle are seldom obeyed. I would add to that. Those making the laws seldom obey. It’s official; we’re China.