I completely agree with Kucinich on ending the wars, having public works projects, and green jobs incubators. But why the insistence that the debt ceiling should be increased with no strings attached? This akin to homeowners six years ago who thought prices would go up forever hence they could keep borrowing on their equity. It was a fool’s dream. So is thinking US debt can endlessly be extended without consequences.
Full text of Congressman Kucinich’s remarks:
Here is what we should do to avoid default: increase the debt ceiling with no strings attached.
Here is how to get out of debt- End the war — save One Trillion over ten years. Repeal tax cuts to the wealthy- Save another trillion.
Medicare for All: end the four hundred billion yearly subsidies for health insurance industry.
Renegotiate trade agreements with workers rights, human rights, and environmental quality principles- save millions of jobs and billions of dollars.
The Fed creates money out of nothing and gives it to banks. Why should our country go into debt, borrowing from banks when we have the constitutional power to create money and invest in jobs?
We can have another New Deal where we put millions to work rebuilding our bridges and transportation system.
We can have a Works Green Administration where NASA is the incubator of jobs designing and engineering wind and solar micro technologies for private sector manufacturing, distribution, installation and maintenance in millions of homes, saving money, energy and protecting the environment.
We are the United States of America, the greatest country on earth. We envision wealth. We don’t default. We create wealth. We don’t default. We build wealth. We don’t default.
“But why the insistence that the debt ceiling should be increased with no strings attached. . . . It was a foolâ€™s dream. So is thinking US debt can endlessly be extended without consequences.”
Except that’s not at all what he says. Eliminating the debt ceiling is one thing. Taking on more debt is another. You’re misinterpreting him in exactly the way your opponents would wish. Many countries, including mine, have no debt ceiling. I think by know it should be pretty clear why yours would be better off without one also.
“Increase the debt ceiling with no strings attached” is exactly what he said. Seems clear to me. How is eliminating the debt ceiling not taking on more debt? Because it leaves the door open for more debt, and the US government will certainly find a way to spend that money, don’t you think? Unless forced not to.
Ending the wars would be the first and best way but neither major party will allow such an outlandish proposition.
You’re seriously suggesting that the last month is the way we should be making our budget decisions?
Answering your question to Geof, passing bills & budgets without raising adequate long-term revenue is how we take on debt. All the debt ceiling does is give hostages to whack-jobs with guns.
I’m saying the opposite! A Congress and White House inhabited by responsible adults would have worked out a deal weeks ago with no histronics (which of course, make fine fund-raising opportunities too.)