Good Riddance to the Debt Ceiling

Good riddance to the debt ceiling. President-elect Trump is totally right: get rid of the limit on federal borrowing. Good riddance. Get rid of it — altogether.Nobody pays any mind to it. It’s never enforced.All it does is open the door to mischievous Democratic attempts to threaten government shutdowns if Republicans don’t cave in to all the trillions of dollars for their ultra liberal programs… and then they blame the GOP for the shutdown.And Trump is also right that he doesn’t want to take office with a debt limit hanging over his new administration and preventing his tax cut and border closing initiatives.Keeping the toothless debt limit will interfere with the entire policy agenda of the new President.Of course. That’s why Democrats love the debt ceiling.It has no meaning — but it throws a wet blanket over the fantastic Trump honeymoon that he’s enjoying.The Democratic leadership would love nothing more than to hold Trump’s entire agenda hostage, even though the voters have just given Trump an enormous mandate to change policies, end Bidenomics, and move toward a new Trumpian era of peace and prosperity.And if you ever take a look at the howling about the debt ceiling — it all comes from the liberal press and liberal politicians, who never advocate for any spending restraints.Isn’t that interesting?And, in the current silly season debate over short term government funding and the phony debt limit, even the mild Pay-Go requirement built into the last debt limit deal in 2023 between Speaker McCarthy and President Biden — has been thrown out the window.There were no spending offsets to all the crazy spending increases embodied in the fortunately now-defunct continuing resolution that went up in flames last night.What kind of spending increases? Well, here are a few.$100 billion for disaster relief — which is probably ten times more than it should be.$31 billion in farm relief — way too much.Immense new ethanol spending.The usual welfarist increases for food stamps and childcare —with no work requirements, as always.Another pro football boondoggle for the Robert F. Kennedy stadium at Washington, D.C.A pay raise for Congress that might be justifiable — but it’s the wrong moment for it.And then stuff that probably nobody knows what it costs — like 70 pages of something called “pandemic preparedness.”The CR would’ve buried all the J-6 committee records — kind of like a pre-emptive pardon for Congresswoman Liz Cheney.The only good news is that Trump killed this continuing resolution bill.Hopefully he can kill the debt limit also.And it’s also worth noting that Trump is getting a lot of help from Elon Musk — in all these endeavors.In only a short period of time, Mr. Musk has become a major political force.And it is a force for good.And he’s being helped by his DOGE brother Vivek Ramaswamy, who put a sharp pencil to the profligate 1,500 page continuing resolution that fortunately was buried.Now, I’d like to see Mr. Musk team up with Trump and kill the debt ceiling altogether.And then, Trump and his team can embark on a new “Golden Age” of peace and prosperity, pressing on with their agenda to cut taxes, dismantle the regulatory state, seal the border, and drill baby drill.Let’s fatten the wallets of blue-collar working folks, rather than government politicians and bureaucrats.From Mr. Kudlow’s broadcast on Fox Business Network.

Good Riddance to the Debt Ceiling

Good Riddance to the Debt Ceiling

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