Phyllis Schlafly
Remember how we were threatened that if the Republican House of Representatives didn't raise the U.S. debt ceiling, the stock market would crash and Standard & Poor's would punish us by downgrading our credit rating? So, the Republicans did what Wall Street, President Obama and the media demanded, the stock market nose-dived anyway and S&P reduced our financial rating for the first time in history from AAA to second-place AA+.

One of the vocal predictors of financial disaster if the House failed to obey Obama's wishes was Secretary of the Treasury Timothy Geithner. That's just the latest indication of his incompetence for his job.

The problem isn't the debt ceiling, but out-of-control spending. The bipartisan compromise increased the government's borrowing limit by nearly a trillion dollars but cut less than $2 trillion in spending over the next 10 years, which hardly makes a dent in the problem.

Pell grants to college students are exempted from the spending cuts, and Obama even won authority to increase grants to college students by $17 billion over the next two years. Colleges reacted by raising this fall's tuition prices an average of 9.8 percent, with some increases as much as 20 percent.

If there is anything Congress should not do, it's borrow more money to send more kids to college who then can't get jobs that are worth the price of college. That's just a sneaky way of concealing the true unemployment figures of young people.

The promise to vote on a Balanced Budget Amendment elevates symbolism over reality. Even if it passed the House, we all know it won't pass the Senate, and even if it did, it would take years for ratification by the states.

The way to balance the budget is to refuse to raise the debt ceiling. There are so many ways to cut spending.

We should reduce federal spending back to the level of the day Obama took office; most people don't realize how much he increased spending in his first two years. We can furlough all the nonessential federal employees; those are the ones told not to report to work when Washington, D.C., has a snow day.

Check into the 45.8 million food stamp recipients; it's unlikely that so many are needy, such as the Michigan guy who won a $2 million state lottery. And what about the free cell phones (with 200 minutes a month) given to food stamp recipients, a handout unknown to most Americans, which recipients call the Obamaphone?

Raising taxes, eliminating tax loopholes or even trimming spending around the edges will not solve our colossal debt and deficit problem. The only thing that will make a positive difference is more people working real jobs and paying taxes as a result.

Phyllis Schlafly

Phyllis Schlafly is a national leader of the pro-family movement, a nationally syndicated columnist and author of Feminist Fantasies.
TOWNHALL DAILY: Be the first to read Phyllis Schlafly‘s column. Sign up today and receive daily lineup delivered each morning to your inbox.