Don’t raise the debt limit

The best outcome of the nonsensical display of “Debt Limit Theater” current running in Washington is for Republicans and Democrats to do noting and not raise the debt limit, according to the chair of the Libertarian Party.

“Everything I’ve heard from Washington politicians about the debt limit is nonsense,” said Mark Hinkle in a statement released July 27. “None of the deals would do anything to cut federal spending. Some reduce the rate of growth a little bit, but I’m afraid that doesn’t count. I propose the simplest option: Do nothing. Don’t raise the debt limit, period.”

Hinkle said that not raising the debt limit would be the best outcome because it would mean the federal government would have to cut its spending by more than 40 percent.

“I’m actually shocked at how resistant both the Republicans and Democrats are to making cuts. I wasn’t expecting much, but their proposals are downright embarrassing,” he said.

He pointed out that the Boehner plan doesn’t cut spending at all, but merely increases spending slightly below the imaginary baseline set by the Congressional Budget Office, according to the Cato Institute. The CBO also issued a report that said the Boehner plan has practically no effect at all on the deficit in 2012 and actually increases Pell Grant spending by $4 billion in 2012.

Democratic Senate majority leader Harry Reid is equally disingenuous in the plan he proposes which takes advantage of massive errors in the CBO baseline, including predictions of absurdly high levels of spending for the wars in Iraq and Afghanistan, to claim “cuts.”

“As usual, Republicans and Democrats are trying to create the illusion of a high-stakes game between two vastly different visions,” Hinkle concludes. “In fact, their visions are practically identical. I hope Americans will see through all the smoke and consider the Libertarian option to make real reductions in the size and scope of government, across the board.”