Some of you may not be old enough to remember Wimpy. Wimpy was Popeye’s friend in cartoons. He was very intelligent, and well educated, and also something of a scam artist.
I was reminded of Wimpy when I was reading the outline of the plan of the Gang of Six to break the deadlocked Debt Ceiling negotiations. Wimpy’s best-known catchphrase was “I’ll gladly pay you Tuesday for a hamburger today.” This phrase, now commonly used to illustrate fiscal irresponsibility, is an apt characterization of the Gang of Six plan.
Predictably, the President signaled that their plan should be the new starting point for a “broader agreement.” Well, of course he would as it includes tax increases.
Before you consider the nebulous Gang of Six Plan, ask yourself this question: Do you really want to seriously consider a plan hatched by Kent Conrad (D-ND), Dick Durbin (D-IL), Mark Warner (D-VA) and supported by the likes of Susan Collins (RINO-ME), Lamar Alexander (RINO-TN) and Joe Lieberman (I-CT)?
The unnecessary pressure and warnings of imminent default from the White House, Geithner and seemingly every other Debtocratic mouthpiece has apparently taken its toll on Tom Coburn (R-OK) who now seems to be supporting two plans in two days.
The fact is that failure to raise the debt ceiling on August 2, does not necessitate a U.S. default.
If the U.S. defaults, it will be by the hand of President Obama. It is his responsibility
to manage the assets of the U.S. Government in a responsible fashion until such time as a proper solution to the unbridled government spending is fashioned.
The fear-mongering and scare tactics he has employed are a disgrace to the
office of the presidency.
If your family’s income is insufficient to pay your bills this month and you are unable to borrow any more money you would prioritize the payment of your obligations. You would likely pay your mortgage or rent first, auto insurance, etc. The U.S. Government has sufficient revenue income to pay the interest and principal payments, Social Security, Medicare, Medicaid, military pay, etc. well beyond August 2, 2011.
Gang of Six, stand down.
Let’s focus on a real deficit reduction plan that does not increase taxes to pander to the class envy Debtocrats.
As I smiled and remembered Wimpy, it occurred to me that the President is a lot like him.
