Bumping Our Heads On The Next Big Battle

This may surprise some of our new readers, but the biggest thing on the minds of most members of Congress this week isn't the budget.

It's the debt ceiling.

For those people that haven't heard it defined before, the U.S. debt ceiling is, quite literally, our collective credit limit as a nation. Unlike your personal credit card, where your limit is set by some nameless, faceless bank, our national credit limit is set by a formula built into Federal law - and it's a formula with a ticking clock.

The effect of going over our national credit limit, while similar to what happens when you go over your own credit limit, could be substantially worse. If you go over your personal credit limit, your credit score takes a hit. Because your credit score goes up, the cost of what you've already spent - meaning your interest rate - will likely go up. So your debt gets a bit harder to pay. Maybe you can't quite get the bank to loan you enough money for that car or house you really want - or maybe they won't loan you money at all. Chances are, though, you probably won't starve if you go over your credit limit. And the worldwide financial markets won't collapse either.

If the United States goes over its credit limit, however, it could very well be the end of economics as we've known it.

The reason many nations currently use the dollar as a foundation for their currency, instead of gold, is that - historically - the dollar has been more reliable than gold. The Untied States has never failed to pay off its debts over the long term, and has only had a few minor defaults in its history. In short, over time, we've proven we're good for it, whatever the amount is.

If our current Congress decides NOT to increase our debt ceiling however, the representatives who vote against the increase will be voting to default on our debt. They will be voting to increase - SUBSTANTIALLY - the interest rate we have to pay on the debt we already have. They will be making it substantially harder for our government to get loans in the future, for any reason.  And because many other major economies have tied the value of their currency to the value of a dollar, it could cause the collapse of world financial markets. And it's not as though people like Treasury Secretary Tim Geithner hasn't warned Congress about it.

In short, those who vote against raising the debt ceiling will be showing that they're willing to let the whole world economy collapse, just to prove their point that America has been borrowing too much.

Now, as our long time readers know, the staff at The Daily Felltoon tries to be fiscally responsible, if not a bit fiscally conservative. However, we support raising the debt ceiling, if only to stave off worldwide financial collapse. Even John Boehner, before he was cowed like a whipped child, acknowledged the mature and sensible nature of raising the debt ceiling. It's not that anyone, on any side, is denying America has borrowed too much for too long. But this debt didn't happen overnight. It happened mostly over the eight years of the Bush administration, and it will easily take many years more for us to pay it down.

Except, as we mentioned initially, we don't have many years.

The debt ceiling is on a timetable all of it's own, and it will not wait months or years for Congress to hash it out, as Congress did with the Affordable Care Act - or as it's been doing with the Federal budget, limping along with continuing resolutions since late last year.

The responsible choice is an obvious, if not distasteful one. But it is a clear choice.

Satisfy the whining of the infantile Tea Baggers who don't understand economics, and don't care what their actions will do to the world economy. Or... raise the debt ceiling - and then work to bring in more revenue, so that we can pay off our creditors once again.

To us, finding the right answer to this question doesn't require some kind of crazy circus feat.

While You Were Out...

We're back from our two weeks away - and it's not as though the world paused while we were gone. For each of us, during these last two weeks, we wondered how we could have even taken time away in the first place.

More than a few things happened while we were gone; more unrest in Middle Eastern nations - and maybe even peace in Libya, continuing disaster in Japan - including another earthquake, and continuing attacks on the rights of working Americans in various places across the country.

All things being equal, you could say we missed a few things while we were away these last two weeks.

The infantile behavior of those in both major political parties wasn't one of the things we missed.

When we left, the U.S. Federal budget was still at a stalemate between Democrats and Republicans. Last Friday, they almost shut the government down because of their inability to agree on financial matters - and to agree to disagree on social ones.

We've watched this "debate" go back and forth for some time - and frankly, we're appalled at both sides.

President Obama and the Democratic leadership stated what we knew to be true at the outset of these fiscal wranglings - that America has a revenue problem, NOT a spending problem. Yet instead of holding their ground, the Congressional Democratic leadership did what they seem to do best: capitulate to the ignorant, whiny voices of the extreme right in the Republican Party. Programs that help the poorest and least able to succeed, programs that Democratic lawmakers have pledged, promised, and pleaded that they'll protect? They didn't.

Republicans haven't been any better than Democratic politicians. Initially, Congressional Republicans said they'd be willing to settle with Democrats for $33 Billion in cuts from the Federal budget for the rest of fiscal 2011. The Democrats gave them $39 Billion in cuts - but suddenly that wasn't enough for the extremist Republicans, even though they got more than they wanted.

All the while, most Americans don't seem to notice how badly they're getting screwed. Citizens have gotten so frustrated with the whole political environment, they'll do nearly anything to tune out reality. As long there is beer, ignorant propaganda with pretty faces and exciting graphics, and an educational system that continues to slide toward third-world mediocrity, too many "Middle Class" Americans are either too busy keeping the meager jobs they have, too frustrated to care, or too ignorant to realize what's going on. Very few seem to understand that those who still have the most wealth - both individuals and corporations - are still not being asked to make any real sacrifices, especially by the Republican Party.

Meanwhile, The Democratic Party seems to have once again lost its nerve to stand up to the insane Tea Partiers.

We honestly wish President Obama had the spine of the television President Bartlett from the TV show "The West Wing". Instead, he seems to be missing. or continuing to worry about what the independents think and how close they are to the Tea Party - even though more Americans seem to be coming to their senses and abandoning the extremist rhetoric and methods of that bunch.

By the way, if you think this budget fight is over because a shutdown was narrowly averted while we were away, then you've been away from the news longer than we have. Congress still has to approve a budget for THIS year, 2011 - and then the fighting, wailing, temper tantrums and capitulating will begin on the 2012 budget. And they have yet to address the looming debt ceiling.

We're glad to be back. We just wish someone else had cleaned things up while we were away.

Friday Funday: Spring Break

While the staff here at The Daily Felltoon has a few more years under our collective belts than the average high school or college student, we're following in their footsteps these next two weeks, and taking a nice spring break.

Frankly, we think after the winter that both Nebraska and Washington, DC experienced, we deserve to have a little time in the sun, to travel about and not be pressured with deadlines.

Of course, for those of you who know us well, you also know our staff members won't be entirely staying away from work. They're not the kind of people to sit around and do absolutely nothing.

Paul will post a few new cartoons at PaulFellCartoons.com over the next two weeks, and online at our Facebook site as well. So if you're in need for new content, Paul will still be delivering his great cartoons over the next two weeks - just not as many of them as usual.

Amy of course will be working at her day job, and taking care of her toddler - which as any mother can tell you, is a full-time job all on its own.

Shawn will be doing a bit of traveling, as well as helping set up our newest office in Florida.

Yes, you read that right - we'll be adding a third location to the offices of your favorite e-mail publication.

We think a more broad scope on the world is a valuable thing, and with his day job relocating, Shawn had a chance to help us expand our view as well.

We're still planning on focusing mostly on issues from the Heartland, as we know most of our readers come from Nebraska and the surrounding states, even if some are located halfway around the world.

We're also still looking for more ways to expand, to bring in more revenue (as we think governments at all levels should also do), and potentially more voices, and to add requested features like "Share This" tags that will make it even easier to share your favorite Paul Fell Cartoons with your friends.

In short, we're growing again, as we think everyone should continue to do, at any age.

Of course, with that comes some growing pains - like not having our daily reminders in your e-mail box for two weeks. To make sure you stay well-informed, we recommend you click daily on some of our favorite news sources, like the New York Times, Washington Post, LA Times, Wall Street Journal, Al Jazzera, and BBC News.

So, in short, we're going on vacation. We'll be taking a bit of time to enjoy the sunshine, and to do a bit of traveling these next two weeks - but we know you'll be with us when we get back.

Plus we've got sunscreen, and we'll have a few drinks, so we think overall, we'll be fine.