Quote of the Day: “The first lesson of economics is that we live in a world of scarcity. There is never enough of anything to satisfy all those who want it. The first lesson of politics is to ignore the first lesson of economics.” — Thomas Sowell
I sent the following letter to Congress this morning using our “Cut spending” campaign.I asked Congress to cut spending instead of increasing the debt ceiling.
If you want to send a letter of your own you can copy or borrow from mine . . .
Please do NOT raise the debt limit. The debt ceiling was supposed to control the amount of debt you can assume in my name. Please obey this law. Do not wave it yet again.
I do not buy the scare stories predicting cataclysm if the debt ceiling isn’t raised. I think the opposite is true. Investors will have more confidence in the U.S. if they see Congress taking a strong stand against cancerous spending and debt. Those who fund federal borrowing will feel INCREASED SECURITY that they’ll get their money back.
You have only to return to the spending levels of 2007 to balance your books. The federal State was not starved for resources then. It was obese. You can easily go back to your old level of financial obesity without harming much of anything.
Calling a halt now reduces the risk of a massive federal default later, so JUST DO IT!
END LETTER
You can send your letter to Congress using DownsizeDC.org’s Educate the Powerful System.
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Jim Babka
President
DownsizeDC.org, Inc.