There’s a saying that if you don’t believe time flies, just have a 30-day note that’s coming due when you don’t have the money to pay it.
Most people understand how uncomfortable a feeling that would be.
But how do the American people feel as our federal government owes $14.3 trillion and by law can’t owe any more than that beyond Aug. 2 – just 14 days away – and thus won’t be able to pay some of its bills after that point?
Obviously, the federal government is not about to significantly reduce the national debt before the Aug. 2 deadline hits, and we certainly don’t want our government to default on the debt. Even the irresponsible big spenders admit that would have horrible effects on our economy and on all of us.
Democrats in Congress want to raise the “debt limit” beyond its current level of $14.3 trillion – while raising taxes and supposedly cutting spending, mainly down the road sometime.