Bill White: Debt Limit as Political Theater

[Horse with no Name]

Part I: debt goes up when Conngress appropriates more spending than taxes collected. The Constitution prevents the Executive Branch from spending a dime without appropriations by both the House and Senate. The new federal budget year begins in 10 weeks. In U.S. history the House often appropriates less than requested. A President can veto, but not permit, new spending.

Part II: failure to increase the debt ceiling need not cause non-payment of interest on debt. Since the fed. gov't since 2008 borrows almost half the money spent outside of trust funds, the current debt limit requires big cuts in spending for the military, veterans, border protection, law enforcement, payment to physicians for Medicare patients, etc.

Part III: Federal debt is a serious problem, requiring honesty. Politicians have made commitments beyond taxes collected. Debt simply defers taxation, with interest. Contrary to the rhetoric, the House Republican plan proposes deficit spending and higher debt until 2040, shown by Table 1 in the attached analysis by the non-partisan Congressional Budget Office.
http://www.cbo.gov/ftpdocs/121​xx/doc12128/04-05-Ryan_Letter.​pdf
www.cbo.gov

http://www.facebook.com/BillWhiteTexas

[The Magistrate]

1. This Mr. White, Sir, Seems a Sound Thinker

[Horse with no Name]

2. Yes, Sir. He was our Democratic candidate for Governor

but lost to Perry.

He was the Mayor of Houston.

We let a good one get away.:(

[The Magistrate]

3. My Apologies For My Ignorance, Sir

I thought this was just some sensible fellow you had found posting on the internet....

Sounds like he would make a damn good governor!

[Horse with no Name]

6. Is a Ma'am.

:D

[w8liftinglady]

4. I worked on his campaign 3 weeks after brain surgery.

he would have really helped Texas. Too bad people didn't care.

[catabryna]

5. Bill White was a very good candidate...

Lucky me! I was able to hear him speak when Al Franken did a traveling AAR show in Austin, many years ago now. I was sitting in the same theatre with the wonderful Molly Ivins. What a great treat that was!

Kudos to my former employer who gave me the morning off! :)

edited to correct typo.

[musette_sf]

7. K & R for Bill White

Annie was the last sane guv in TX