Don't be fooled: OK, we missed the cliff, but the debt pronouncements continue
Don't heave a sigh of relief that the fiscal cliff has been avoided -- that was only Round One.
Next on the list is an even tougher foe -- spending cuts and reducing the debt burden that this country is facing.
And that should be a humdinger.
The U.S. is approaching its debt limit -- again -- which means that once again Congress will have to decide whether to increase the limit.
And that is where the battle will begin.
President Barack Obama has indicated that he will "not allow Congress to vote not to pay the government's bills."
Dismiss that. It is political posturing.
While it is true that not increasing the debt limit would put a crimp in getting those bills paid, they will be paid.
The rub comes when we have to figure out what to do next.
You cannot continue to increase debt limits. It is a recipe for fiscal disaster and incredible irresponsibility on the part of the president and those who support the call.
Amusingly, or ironically, you pick, the president made a huge fuss when he was a senator when then-President George W. Bush faced a similar debt limit. He said Bush was "stealing from our children." Funny how the shoe is on the other foot now, huh?
Bottom line is, there are going to have to be cuts. We cannot afford as a country to continue spending at this pace. It is dangerous to our economy and detrimental to our children's future.
So, now, we have to talk about not just the debt limit itself, but how to prevent having to discuss this again in a few months when once again our bills overpower our federal bank accounts.
And you know what that solution is.
The reality is the proposed tax cuts on the wealthiest Americans are not going to be enough. Anyone who says otherwise is just playing a political card.
Tough choices lie ahead -- and they require leadership, compromise and a sense of what it will take to get this house back in order.
We will see if the leadership, the president and others have the guts to do what is right -- no matter what the polls say.
So batten down the hatches -- Round Two is on its way.
Published in Editorials on January 2, 2013 10:55 AM