So, NYT Editor 'Wesley Mouch', you see eliminating the debt ceiling as being "for the national good", do you? You say that anytime they like, Congress can cut spending or raise taxes to control the debt?
What if there's a certain political Party that's mastered the art of promising to voters monies looted from the Treasury, as was predicted by de Tocqueville in his work "Democracy in America"? Would you risk the absolute end of the Republic, caused by reaching the real-world limits to spending, borrowing and debt accrual, because the very necessary payback of the debt to debt holders and of course payback of the interest owed on that ever-increasing debt is now realized? Would you desire to allow that particular Party to continue to operate in such a dastardly and destructive way, past the point even when the debt owed exceeds 100% of National GDP, and we risk a hyper-inflationary period that makes the Great Depression seem a pleasant walk in the park?
Yes, I think you would, because without that promise that's now built-in to that particular Party's platform (the new far-Left Liberal Progressive Democratic Party, not kin to the long-subsumed Democratic Party I remember): that Party's platform being a promise to loot Other People's Money, using demonization of 'The Rich' to goad a sense of loathing and hatred for 'The Rich' into average voter's minds, for the purpose of buying votes from those same voters - Moochers so as to stay in power; without that lure, that particular Party might cease to exist. At least to cease to exist in the gross, overindulgent, Statist form it's become today.
It's an addiction, this love of Other People's Money. Democrats, you've got to work on that. And we need to implement a Balanced Budget Amendment, as many states already have, and as a majority of Americans desire.
And there are real limits to spending, borrowing and a nation's well-being. A short course in Economics, not a blind-faith in Party politics and platform, might be in order, 'Wesley'.
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