Duplicity -- noun -- "deceitfulness in speech or conduct,
as by speaking or acting in two different ways . . .
double dealing . . ."
Rep. Richard Hanna: Why I voted Yes on the House Amendment to S. 540, the Temporary Debt Limit Extension Act.
"This legislation prevents our nation from defaulting, which has never happened in our history. . . . Default is entirely unacceptable for the United States of America and it would be painful for most every family and household I represent. . . .we need to pursue overdue reform to the long-term, structural drivers of our debt . . . I believe my constituents sent me to Washington to govern responsibly and not engage in petty politicking, so I look forward to resolving our serious fiscal problems in a thoughtful and productive way that allows us to stop borrowing from our children to spend on ourselves."Rep. Hanna, why don't you and the other members of Congress recognize the existence of the debt ceiling when proposing new spending -- like YOUR spending proposal for universal Pre-k -- and stay under it? The only reason why you are now forced to raise the ceiling to prevent "default" is because you and other members of congress are undisciplined, spending money that you already know we don't have.
Portraying yourself as concerned about borrowing while proposing a massive new spending program illustrates the definition of duplicitous, no?
You may technically prevent a default, for now, by raising the debt ceiling, but you cannot not stop its effects from eventually happening. When the world starts thinking that we might not be able to repay our debts, the game is over.
We are just about there now. Some countries have already stopped trading using the dollar, in spite of its status as the world's reserve currency, over fears that its value will no longer be there. When American companies issue bonds in other currencies (like Verizon's recent issue in Euros) the handwriting is on the wall.
The dollar will be devalued, like with other countries and their currencies, overnight. The value of a portion of people's lifetime savings will be wiped out. And when people can't get their money out of the bank, there will be civil unrest. And Congress' spending beyond our means will be to blame.
The debt ceiling is there to prevent over-spending. Raising it only allows over-spending to happen.