"Raising America's debt limit is a sign of leadership failure." So said then-Sen. Obama in 2006, when he voted against raising the debt ceiling by less than $800 billion to a new limit of $8.965 trillion. As America's debt now approaches its current $14.29 trillion limit, we are witnessing leadership failure of epic proportions.
I will vote to defeat an increase in the debt limit unless it is the last one we ever authorize and is accompanied by a plan for fundamental tax reform, an overhaul of our regulatory structure, a cut to discretionary spending, a balanced-budget amendment, and reforms to save Social Security, Medicare and Medicaid.
It’d be foolish in my view to push it all the way into a shutdown that would be a high-risk and low-reward proposition, since the future of the country doesn’t depend on how many billions are shaved in discretionary spending this year or policy riders of six-month duration. Much more consequential is the debate over the debt limit, which gives Republicans the leverage to force serious spending restraint, and over the Ryan budget, which will attempt to set the predicate for putting the country on a fundamentally different fiscal path.
Guy Benson is Townhall.com's Political Editor. Follow him on Twitter @guypbenson. He is co-authors with Mary Katharine Ham for their new book End of Discussion: How the Left's Outrage Industry Shuts Down Debate, Manipulates Voters, and Makes America Less Free (and Fun).
Author Photo credit: Jensen Sutta Photography
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