English: Chart of the United States' debt ceil...

Chart of the United States’ from 1981 to 2010 in $ trillion. This chart tracks the debt ceiling at the end of each calendar year. Years are color coded by congressional control and presidential terms highlighted. (Photo credit: Wikipedia)

Once in a while I run across someone with such uncanny ability with words to describe the essence of an issue that it takes my breath away. Star Parker did just that:

Why do we have to keep raising the debt ceiling? Because politicians are afraid to be honest with the people and immediately raise to pay for all their new spending. So instead of raising taxes and paying for our new bills when we incur them, they just borrow the money.

They do it without our permission, and then expect us – force us – to pay those bills when they come due. Says Parker:

They could be honest. When they have their wonderful ideas about what they want to spend our money on, they could go right to taxpayers and say we are going to spend X for Y so we will raise your Z to pay for it. OK?

They discovered years ago that they couldn’t do this. That’s why they had to create the money machine – the Fed – in order to spend money they don’t have and can’t raise in taxes – and then present the bill to us later:

Politicians know that the money they are ultimately will come out of every household. And if they go to those households, to those actually responsible to pay the bills, and the heads of those households know they don’t have the money, they will say “NO! Don’t spend the money and don’t raise my taxes!”

So politicians don’t ask.

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