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The Anderson Tea Party is a group of hard-working, tax-paying citizens of Anderson, SC, defending their Constitutional freedoms from the tyranny of the U.S. Government.

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Five reasons Congress does NOT need to raise the debt ceiling

Tea Party Patriots has put together an excellent full-page fact sheet by the same title, summarized here for your convenience. We need help in the following areas:

  • Print the fact sheet and post it in a visible location at your place of employment, and share this page with everyone you know.
  • Contact the SC congressional delegation and tell them you do not want the debt ceiling raised one penny!

1. We won’t default if we prioritize our spending.

News flash: we will still be collecting taxes even if we don’t raise the debt ceiling, to the tune of $2.2 trillion in 2011 alone. After servicing our debt, that leaves $1.9 trillion to spend on essentials (see “The Debt Ceiling: debunking the myths“).

The Toomey-DeMint Full Faith and Credit Act (S. 163) would direct the Treasury department to prioritize our debt payments to ensure that the US does not default on its obligations.

2. If they raise it, they will spend it.

Enough said. Except to remind you that the debt ceiling has been raised 10 times in the past 11 years.

3. We have been warned to stop the reckless spending.

Both Moody’s and Standard & Poor’s have warned us that our credit rating will be downgraded if we do not control our debt. China, our primary lender, has had enough of our spending habits. Ruining our credit score will only make borrowing more expensive — if not impossible — a fact of life many American households are already keenly aware of.

4. We don’t have to reinvent the wheel on spending.

If we roll spending back to 2003 levels, we won’t need to raise the debt ceiling, nor will we have to default or leave parts of the government unfunded. Oh and get this: the Federal Government is actually holding $1 trillion in highly liquid assets and natural resources.

We do not have a revenue problem. We have a spending problem. There is no reason whatsoever to raise taxes or the debt ceiling except to grow government.

5. A rising national debt hinders jobs and the economy.

Government displaces private sector jobs. Government tried to create jobs in the 1930s, the 1960s, and the 1970s, and failed miserably.

Since 2009 there are 2 million fewer people employed, while government spending has increased 19%!

Raising the debt ceiling will kill jobs.

PERIOD.

P.S. How would you prioritize spending for Aug.-Dec. 2011?

3 comments

1 Ed Eichelberger { 07.18.11 at 8:45 am }

EXCELLENT work Jonathan, et al! Concise and to the point!

2 Brit { 07.18.11 at 8:46 am }

Thank you for showing all of this. The truth will set you free. I believe we can stop the fraud out of a lot of systems which would fund other agencies. When I did the spend test I still have 2 billion left over. I have sent this message to our congressman, we must reign in our out of control Gov.

3 Mike Hoffman { 07.21.11 at 8:53 am }

You forgot to add in the 100s of billions interest the US will spend on higher interest rates, which will have an immediate impact on the cost to do business, which will have a devastating effect on the economy. It is hard to find an economist that says otherwise. Why do you think you know better. The importance of standing behind the nation’s credit has been well understood since our nation’s infancy. In 1793, George Washington wrote to the House of Representatives: “No pecuniary consideration is more urgent than the regular redemption and discharge of the public debt: on none can delay be more injurious, or an economy of time more valuable.”

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