RANT: Don’t increase the debt ceiling

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6/23/11

Subject: Cap The Debt!

Do NOT raise the debt ceiling.

The simplest way to address the problem is to pressure the 535 to cut spending to where no increase is needed. All other attempts to financial discipline Congress have failed. Don’t raise the ceiling. Period! Magically, I bet the 535 will figure out a solution. If not, you ALL should resign, come home, and let someone else try. Bet everyone who wants to be reelected can figure that out!

Mr. ferdinand reinke

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Dear Friend,

Thank you for taking the time to contact me. Your comments are very important to me, and I wanted to confirm with you that I have received your message. All communications I receive are registered and sorted by my office, and I will try to respond to you as quickly as possible.

If you have contacted me about an individual issue that you are having with a federal or state agency that requires immediate assistance please contact my Newark, NJ office directly at 973-645-3030.

Sincerely,

Senator Robert Menendez

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Thank you for your email message. I appreciate your taking the time to let me know your views and concerns about issues facing America. You will be receiving an answer from me soon.

Please do not reply to this e-mail. If you would like to e-mail me again, go to my web site at http://holt.house.gov/index.php?option=com_content&view=article&id=382&Itemid=2.

RUSH HOLT

Member of Congress

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Dear Friend,

Thank you for contacting me. Your comments are important to me and I wanted to confirm with you that I have received your message.

Please feel free to contact me again should you have additional concerns or if there is any way in which I can be of assistance.

Thank you,

   Sincerely,

   Senator Frank R. Lautenberg

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Dear Mr. Reinke:

Thank you for contacting me to express your concerns regarding the federal government’s debt limit. I appreciate hearing from you on this critical issue and having the opportunity to respond.

The statutory debt limit was reached on May 16, 2011. Since then, the Department of the Treasury has been implementing extraordinary measures to temporarily extend its ability to borrow within the limit and postpone a default on the legal obligations of the United States. These extraordinary measures include redeeming existing Treasury securities held as investments in the Civil Service Retirement and Disability Fund and suspending state and local government treasury securities which are used by these entities to manage their outstanding debt expenses.

The national debt is the total amount of money borrowed in order to fulfill the requirements imposed by current and past Congresses and Presidents, during periods when both Republicans and Democrats were in control of different branches of government. These are legal obligations, and the responsibility for meeting the Nation’s obligations must be shared by both parties.

Increasing the debt limit would not authorize a single penny of new spending, nor would refusing to increase it reduce the obligations that our Nation has already incurred. Failing to raise the debt limit would force the Treasury to default on the legal obligations of the United States and case far more damage to the economy than the financial crisis of 2008 and 2009.

Treasury Secretary Geithner has said the consequences of a default include a substantial tax increase on all Americans, the devaluation of the U.S. dollar, an increase in borrowing costs, a decline in home values, and the potential loss of American jobs, retirement savings and economic security. Additionally, if the debt limit is not increased, payments on a broad range of benefits and U.S. obligations such as military salaries and veterans, Social Security, Medicare, unemployment and retirement benefits would be discontinued, limited or adversely affected.

I share your desire to see our country headed down a more sustainable fiscal path, and I am committed to making the tough choices that will reduce the gap between our commitments and our resources. I believe that reducing our deficit will require a balanced approach to spending cuts; reforming tax policies, such as closing corporate tax breaks that allow oil companies to avoid paying billions of dollars in taxes; and controlling health care costs. As your federal representative, I take very seriously my responsibility to work with colleagues on both sides of the aisle to enact sound fiscal policy that that invests in our future and protects the economic security our nation’s children.

Again, thank you for taking the time to express your thoughts on this important matter. Rest assured that I will keep your views in mind. I invite you to visit my website (http://menendez.senate.gov) to learn more about how I am standing up for New Jersey families in the United States Senate.

/s Menendez s/

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Excuse me.

“Failing to raise the debt limit would force the Treasury to default …”

“barbara streisand”!

Pay the debt service. Then, the troops. Then, the seniors. Figure out a list of priorities, pay those until the money runs out. Then, oh well. Too bad. Soo sad.

Argh!

Fiscal discipline the hard way.

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(To be updated when I hear from the other two bozos.)

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