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Rush's Morning Update: Catastrophic January 6, 2011

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One early decision House Republicans are going tomake is a vote on raising the "debt ceiling". Only in Washington is this a mundane process part of the normal routine. In the real world, a poor credit risk asking creditors to raise their credit line to allow more borrowing is not routine at all -- it takes a whole lot of onions.

Now, Obama regimebig spenders are making the case for even more spending and borrowing. When Republicans said that any increase in the debt ceiling must be accompanied by dramatic spending cuts, the White House economic advisor, Austin Goolsbee, accused them of "playing chicken" with America's financial credibility.

The current debt limit is over $14 trillion. If Republicans don't raise it, Goolsbee warned, "the impact on the economy would be catastrophic," and create "a worse financial economy crisis than anything we saw in 2008." Republicans are also being warned that dramatic spending cuts would rattle financial markets.

According to Democrats and the State-Controlled Media, the only way to avoid catastrophe is to continue to recklessly spend money we don't have and print more and create... catastrophe!

But no matter what liberals say, it's high time to put a stop to Democrats' spending-and-borrowing this nation into the abyss. Republicans cannot allow the "business as usual" model to go on one day more in Washington. No matter how much they whine orbleat ormoan, it's time for the adults to cut up Obama's credit card and lower his spending limit. Any other outcomewould be... catastrophic.

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