Monday, September 30, 2013

Congressman Jeff Duncan Explains Budget Debate to a bunch of bankers

I shared the following on Facebook:

Douglas V. Gibbs shared Congressman Jeff Duncan's status.

I received an "Update" from the American Bankers' Association's chief that said:

"I’m sure you have been watching -- with interest, dismay or perhaps even embarrassment -- the debate in Washington over federal spending."

I responded:

I am curious over what he (Frank Keating - ABA) thinks folks should be "embarrassed" about?

Is it the runaway spending with no plan to ever balance the budget, much less even have a budget?

Or is it the runaway federal debt now which is now close to $17 Trillion - with no plans by the government to reign in the things that are necessitating the US borrowing money?

No bank that I know would continue to loan money to a commercial client who acted in such a way.....a customer who couldn't tell you when they would be able live within their means or be able to show a plan for repayment of the loan......

Maybe he is just embarrassed that, for the first time in a long while, there are actually Congressmen who believe in limited government, more liberty for Americans and free enterprise / free markets - whom the press misses no opportunity to dis because these Congressmen are unabashed about exposing the situation in America for what it is....

There will be no default. The Administration can pay the nation's bills. It may have to prioritize which vendors get paid first, but any default would be of the Administrations doing as Congress debates raising the statutory limit on borrowing money.....

But, I must say, when the President states that government spending has nothing to do with the debt ceiling, I question his complete understanding of business, budgeting, borrowing, debt and simple economics.

-- Political Pistachio Conservative News and Commentary

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