After the failure to pass the Boehner Plan in the House last night, the debt ceiling negotiations have become a hall of mirrors - and that is just among the House Republicans. You have the Boehner Plan's specified cuts that, if enacted, would do little improve our fiscal situation. You have the allegedly principled House conservatives who think they are more fiscally responsible than Thomas Sowell and who seem willing to produce an immediate government funding crisis in order to try to get the Senate and the President to agree to spending cuts that do not, at present, have sufficient public support. But who needs funds for ongoing military operations or the border patrol anyway?
There is just a lot of confusion. Means and ends are all messed up. I saw House conservative Trey Gowdy argue that "The seventy-fifth time we raise the debt ceiling should be the last time we raise the debt ceiling." Well, that is unlikely to happen unless the debt ceiling is repealed altogether or raised some much larger amount than anyone is presently suggesting. Gowdy himself voted for the Ryan budget. That budget would add 1.388 trillion dollars to the national debt this year and 995 billion next year. Under the Ryan budget, the federal debt held by the public would rise from just under 10 trillion dollars now to 16 trillion dollars by 2021.