We're so exhausted by overkill that we forget most of the Republicans' panics are faked. There is no debt "crisis." There is a debt. There are debts. We can pay them down. The purpose of the "debt crisis" isn't about getting rid of debt; it's about taking power away from about ninety percent of America.
Nothing is gained by turning the deficit into a holy terror unless we're talking about political gain. Tell me, do you want a radicalized Republican party to have more power? No? So why let them have their crazy crises? Time to call them on it. Time to stop reserving 90% of our economy's benefits (and the power they afford) for the top 10%.
...That the U.S. faces periodic standoffs over the debt ceiling is a problem entirely of Congress’ own creation. The debt ceiling didn’t even exist until 1917, and serves little practical purpose. During an interview on Bloomberg Television, Treasury Secretary Tim Geithner acknowledged as much, saying that the U.S. should abolish the debt ceiling entirely. ...
... As the American Prospect explained last year, “experts — including former Office of Budget and Management and Treasury officials, congressional staffers, and CBO employees — have suggested in the past, and are suggesting now, replacing the debt ceiling with debt targets for lawmakers to work under.” Certainly, in its current form, the debt ceiling does nothing but give the minority party a chance to manufacture a crisis every time it needs to be increased. ...Pat Garofalo, Think Progress