I’m Calling to Approve a Higher Credit Limit on My Card

Notes

Democrats in Washington are voting to raise the debt ceiling by $1.8 Trillion (read more here), which should be a big deal but really isn’t. The debt ceiling has been raised almost yearly for decades. It is simultaneously the most boring event happening in Washington and the most important. True to form, if it’s not sexy, it gets no play with the news media or with the American people, who seem to be all the more willing to go further into debt if it means getting more government sponsored benefits. And the leadership in Washington isn’t denying it:

“We’ve incurred this debt. We have to pay our bills,” House Majority Leader Steny Hoyer told POLITICO Wednesday. The anticipated increase is nearly twice what had been assumed in last spring’s budget resolution for the 2010 fiscal year.

Let me translate for those of you less inclined to understand the rascality – which is defined as ‘being a rascal – of Congressman Hoyer: “We spent a lot of money on programs and we didn’t exactly have the money for it. So we figured…what the hell…let’s just raise the limit on our credit card and call it a day.”

For those of you out there who would like to suggest that this is meaningless, and that rising public debt is a largely unnoticeable happening in government that rarely affects our day-to-day lives, I have some numbers for you to consider; Namely, can you calculate what you spend each year on the…

Building Permit Tax
CDL License Tax
Cigarette Tax
Corporate Income Tax
Dog License Tax
Federal Income Tax (Fed)
Federal Unemployment Tax (FU TA)
Fishing License Tax
Food License Tax
Fuel Permit Tax
Gasoline Tax
Hunting License Tax
Inheritance Tax
Inventory Tax
IRS Interest Charges (tax on top of tax)
IRS Penalties (tax on top of tax)
Liquor Tax
Luxury Tax
Marriage License Tax
Medicare Tax
Property Tax
Real Estate Tax
Service charge taxes
Social Security Tax
Road Usage Tax (Truckers)
Sales Taxes
Recreational Vehicle Tax
School Tax
State Income Tax
State Unemployment Tax (SUTA)
Telephone Federal Excise Tax
Telephone Federal Universal Service Fee Tax
Telephone Federal, State and Local Surcharge Tax
Telephone Minimum Usage Surcharge Tax
Telephone Recurring and Non-recurring Charges Tax
Telephone State and Local Tax
Telephone Usage Charge Tax
Utility Tax
Vehicle License Registration T ax
Vehicle Sales Tax
Watercraft Registration Tax
Well Permit Tax
Workers Compensation Tax
(And to think, we left British Rule to avoid so many taxes)

Not one of these taxes existed 100 years ago; And we keep raising the debt ceiling to very little fanfare or notice from the general population. Americans need to make the emotional and psychological connection between a ‘dollar’ and where that ‘dollar’ comes from (ehem…taxes [ahem…see above]). Until that happens, we can expect to keep raising the debt ceiling indefinitely…until we can’t anymore. Then the debate over whether to pay for healthcare will be a distant memory as it will be replaced by a debate over what program should be shut-down next in order to make up the shortfall in interest payments that we owe.

I wonder if Democratic congressman will be echoing the same as they are today…that “We’ve incurred this debt. We have to pay our bills.” I won’t cross my fingers…