Steve's a reader who sent me the following deliciousness of setting Congressman Henry Cuellar straight. It's exactly what each and every one of us should be doing in the fight for the future of this country.
Libbie stupidity, meet Steve:
Congressman Henry Cuellar [mailto:rep.cuellar@mail.
Sent: Saturday, July 23, 2011 9:50 AM
To: Badass Steve (Not a Wonk has changed the email address detail)
Subject: What you should know about the debt ceiling
From Congressman Henry Cuellar
Dear Friends and Neighbors in the 28th District,
WHAT YOU NEED TO KNOW ABOUT RAISING THE DEBT CEILING
Washington,
Jul 19 -
In the past weeks, lawmakers on both sides of
the aisle have had several intense negotiations surrounding raising the
debt limit. Economic experts agree that the United States must both
raise the ceiling in order to pay our incurred debt and act to reduce
spending. Failing to raise the debt ceiling would have catastrophic
global economic impacts and would plunge our economy back into a deep
recession.
I want to take this opportunity to clarify what exactly the debate is about and to bust some myths that have been pushed by both sides.
What is the Debt Limit?
The debt limit is a statutory cap on the amount of debt the federal government borrows. It applies to federal debt such as U.S. bonds and Treasury Bills. This debt is owned by creditors such as taxpayers, pension funds and foreign governments. In essence, it is money the country has borrowed to operate and must eventually pay.
Raising our nation’s debt limit is not a new issue. In 1917, as the United States entered into World War I, Congress authorized the Department of Treasury to finance the war, but placed a limit on the amount of debt that could be taken. Since 1980, the debt ceiling has been raised 39 times. Our debt limit has been increased in increments and has never been politicized or held hostage to accomplish ideological goals.
Recent Years
Raising the debt ceiling has been a non-partisan issue. President Ronald Reagan, a Republican, raised the debt ceiling 17 times, the most of any president.
In the 1990s, the debt limit was raised four times under President Bill Clinton and since 2001, the debt limit has been increased 10 times, including seven times under President George W. Bush and three times under President Barack Obama. Not only have presidents of both parties raised the debt limit, but members of Congress from both parties have voted with them. Republican leadership including Speaker John Boehner and Majority Whip Eric Cantor have voted twice to raise the debt limit.
Debunking Debt Ceiling Myths
Not raising the debt ceiling is a way to control future government spending.
This is not true. We’ve heard some say that refusing to raise the debt ceiling is like ‘cutting up America’s credit card’, but a more appropriate analogy would be cutting up our credit card bill. Failing to raise the debt ceiling amounts to a refusal to pay the bills our country has already incurred – which not only sets a terrible example for our children – it also would lead to a credit rating downgrade, leading to higher interest rates and actually increasing our deficit.
Americans will be unaffected if the U.S. defaults – it won’t have a significant impact on me.
False. If the United States does not pay its owed debt by Aug. 2, the Treasury Department will be forced to prioritize payments and pick ‘winners and losers’. On Aug. 3, Social Security checks that are supposed to be sent out to beneficiaries are at risk if the debt ceiling is not raised. As the school year begins in August, many incoming college students will be relying on their Pell Grants to pay for their education expenses – this may not get funded. Even funding Military Active Duty Pay, the FBI and prison systems would be at risk for payment. Every month, the Department of Treasury makes 80 million payments and every one – from veterans to the Federal Highway Administration – will be affected, including me and you.
Failure to Raise the Debt Ceiling has been dramatized.
Incorrect. Third-party onlookers have all come out highlighting the direct risks to our economy, global markets and creditability. Rating agencies such as Standard & Poor’s, Fitch, and Moody’s agree that the U.S. sovereign rating will be downgraded as a result of failure to raise the debt limit. The International Monetary Fund Chief recently warned that if the U.S. fails to raise its borrowing limit, “nasty consequences” are to follow. Business organizations, totaling 470, including the Chamber of Commerce and National Association of Manufacturers, sent a letter to Congress encouraging the “U.S. government to make good on its financial obligations … .” Raising the debt ceiling is not political banter – it’s a global issue that everyone is watching.
The Truth
I believe our situation is best summed up by President Ronald Reagan, who wrote to then-Senate Majority Leader Howard Baker:
“The full consequences of a default, or even the serious prospect of default by the United States are impossible to predict and awesome to contemplate.”
Not raising the debt ceiling would amount to playing ‘chicken’ with our 401Ks, mortgages, pension funds, unemployment benefits, social security payments and tax refunds to small businesses. It would not only be irresponsible, it would cause self-inflicted global financial wreckage that neither the U.S. nor the world can afford.
I continue to strive to serve the American people, especially the constituents of the 28th District of Texas. I believe in responsible spending cuts for our future deficits and I cannot allow our country to default on its debt that has been incurred during the past 16 presidencies.
I will stand for what’s right and not for what’s in the best interest of a special few.
I want to take this opportunity to clarify what exactly the debate is about and to bust some myths that have been pushed by both sides.
What is the Debt Limit?
The debt limit is a statutory cap on the amount of debt the federal government borrows. It applies to federal debt such as U.S. bonds and Treasury Bills. This debt is owned by creditors such as taxpayers, pension funds and foreign governments. In essence, it is money the country has borrowed to operate and must eventually pay.
Raising our nation’s debt limit is not a new issue. In 1917, as the United States entered into World War I, Congress authorized the Department of Treasury to finance the war, but placed a limit on the amount of debt that could be taken. Since 1980, the debt ceiling has been raised 39 times. Our debt limit has been increased in increments and has never been politicized or held hostage to accomplish ideological goals.
Recent Years
Raising the debt ceiling has been a non-partisan issue. President Ronald Reagan, a Republican, raised the debt ceiling 17 times, the most of any president.
In the 1990s, the debt limit was raised four times under President Bill Clinton and since 2001, the debt limit has been increased 10 times, including seven times under President George W. Bush and three times under President Barack Obama. Not only have presidents of both parties raised the debt limit, but members of Congress from both parties have voted with them. Republican leadership including Speaker John Boehner and Majority Whip Eric Cantor have voted twice to raise the debt limit.
Debunking Debt Ceiling Myths
Not raising the debt ceiling is a way to control future government spending.
This is not true. We’ve heard some say that refusing to raise the debt ceiling is like ‘cutting up America’s credit card’, but a more appropriate analogy would be cutting up our credit card bill. Failing to raise the debt ceiling amounts to a refusal to pay the bills our country has already incurred – which not only sets a terrible example for our children – it also would lead to a credit rating downgrade, leading to higher interest rates and actually increasing our deficit.
Americans will be unaffected if the U.S. defaults – it won’t have a significant impact on me.
False. If the United States does not pay its owed debt by Aug. 2, the Treasury Department will be forced to prioritize payments and pick ‘winners and losers’. On Aug. 3, Social Security checks that are supposed to be sent out to beneficiaries are at risk if the debt ceiling is not raised. As the school year begins in August, many incoming college students will be relying on their Pell Grants to pay for their education expenses – this may not get funded. Even funding Military Active Duty Pay, the FBI and prison systems would be at risk for payment. Every month, the Department of Treasury makes 80 million payments and every one – from veterans to the Federal Highway Administration – will be affected, including me and you.
Failure to Raise the Debt Ceiling has been dramatized.
Incorrect. Third-party onlookers have all come out highlighting the direct risks to our economy, global markets and creditability. Rating agencies such as Standard & Poor’s, Fitch, and Moody’s agree that the U.S. sovereign rating will be downgraded as a result of failure to raise the debt limit. The International Monetary Fund Chief recently warned that if the U.S. fails to raise its borrowing limit, “nasty consequences” are to follow. Business organizations, totaling 470, including the Chamber of Commerce and National Association of Manufacturers, sent a letter to Congress encouraging the “U.S. government to make good on its financial obligations … .” Raising the debt ceiling is not political banter – it’s a global issue that everyone is watching.
The Truth
I believe our situation is best summed up by President Ronald Reagan, who wrote to then-Senate Majority Leader Howard Baker:
“The full consequences of a default, or even the serious prospect of default by the United States are impossible to predict and awesome to contemplate.”
Not raising the debt ceiling would amount to playing ‘chicken’ with our 401Ks, mortgages, pension funds, unemployment benefits, social security payments and tax refunds to small businesses. It would not only be irresponsible, it would cause self-inflicted global financial wreckage that neither the U.S. nor the world can afford.
I continue to strive to serve the American people, especially the constituents of the 28th District of Texas. I believe in responsible spending cuts for our future deficits and I cannot allow our country to default on its debt that has been incurred during the past 16 presidencies.
I will stand for what’s right and not for what’s in the best interest of a special few.
Sincerely,
Congressman Henry Cuellar
Steve replies:
From: Badass Steve (again, I have changed the email address for privacy reasons)
Date: Sat, Jul 23, 2011 at 1:07 PM
Subject: Bet you don't read this response - What you should know about the debt ceiling
To: Congressman Henry Cuellar
Cc: Not A Wonk (yep, he really cc'd me!)
Congressman Cuellar,
My opinion on your accompanying newsletter is as follows. I am not a politician trying to get re-elected….just a regular American. An American that is a small business owner that has lost money over the last few years. I am trying to keep my 14 employees working.
Your line “Economic experts agree that the United States must both raise the ceiling in order to pay our incurred debt and to reduce spending”, is right if one assumes that Washington is going to keep spending money on all the programs that they currently pay out on and not have any real cuts in programs. By real cuts, I mean, CUTS not reduce the yearly budget increases.
Your line “Failing to raise the debt ceiling would have catastrophic global economic impacts and would plunge our economy back into a deep recession”, is a stretch. Catastrophic sure is a subjective term used to scare people. Deep recession???? I don’t know where you live in our district, but the economy is not rosy here. If it wasn’t for the Eagle Ford oil area, the economy would be dead. I noticed you didn’t say Economic experts agree at the beginning of this line, I guess because you and I know that they don’t. But you sure word it to sound like it.
I could care less how many times the debt ceiling has been raised and what President was in office at the time. Personally, I think there should not be a debt ceiling limit at all, but there is. It is only used by each party that is in power for political gain. I did notice that you failed to mention that Obama earlier voted against raising the debt ceiling and said that it would lead to the downfall of America. Funny how things change.
Your paragraph about debunking debt ceiling myths is a joke. You refer to setting an example to our children….not sure how you are raising your children, but from your comments I can only guess that it is different than I am raising mine. I am raising mine NOT to live beyond their means. NOT to borrow, borrow, borrow. They need to be able to stand on their own two feet and make their own way, NOT rely on Washington to fix their problems or buy them a meal.
My children will be MAKERS in this country, NOT TAKERS. There are far too many TAKERS and they are sucking this country dry. One day, you and others will figure out that the MAKERS should be cherished and held in high esteem, for they are making it possible for the TAKERS to exist in this country.
Your paragraph about Americans will be unaffected if the U.S. defaults, I agree with. It is false. Washington will have to make choices on who to pay, “winners and losers” as you call them. Your future employment will be directly tied to your choices as to the prioritization of those checks. You wanted the job, now do it. You still don’t get it, pick the winners and losers. We cannot continue to pay everyone, so pick or quit and go home. I am prepared to make some sacrifices to get MY country back in shape. Oh, and by the way, I didn’t make this mess either.
And boy, what a mess it is. I can tell you that those that I come in contact with on a daily basis has very little respect for Congress or the President. Legitimate debate has fallen to an all time low of name calling and scare tactics, by both sides. There are no LEADERS in Congress or the White House. NONE.
A quick word on Leaders, I don’t want you to be confused by my terminology. We do not elect our Leaders. You are not a Leader. We elect Representatives. You are our Representative.
A Representative may rise to be a Leader in their respective house……but they will never LEAD their constitutes that they represent.
Someone needs to pick up the ball and run with it. Put forth conservative policies and explain them. These ideas will not be well received at first but honest Americans will know that tough choices need to be made, and they will make them. Spending needs to be drastically cut. DRASTICALLY. Many agencies/organizations need to be dissolved. Eliminate bills/policies that cost money that are not needed.
Unfortunately, this person has not showed up yet, but I have faith that he/she will.
Sincerely,
Steve
POW! Steve delivers the goods!
Most quotable line: My children will be MAKERS in this country, NOT TAKERS.
My only issue with Steve's response is I think a leader HAS shown up. He merely has a name recognition issue, but together we can solve that minor problem.
Who's this dude?
Thaddeus McCotter.
Go HERE and read all about him, and tell me you don't like the guy.
I dare you.
Steve, I thank you for caring enough to respond to your congressman, especially because he's deluded, and stupidity like his should never go unanswered or unchecked. Repairing the damage this country has suffered will take many more people caring enough to stand toe to toe with the left.
Onward, mah babies.
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