Cave on the Debt Ceiling and Kiss 2012 Goodbye

If the GOP is really serious about winning back the presidency, it needs to win the deficit debate. The government of these United States is broke — flat broke — and if the nation is to survive as the prosperous nation it has long been, Republicans must restore fiscal sanity and call a halt to spending money we don’t have!

That’s what the Republicans promised us they would do last November, and largely on the strength of that pledge we let them take back the House. After all, it’s obvious that we can’t trust the Democrats to spend the public’s money wisely and well.

President Obama is promising to seek $3 in spending cuts for every $1 of new taxes, exactly as my father Ronald Reagan sought to do. When my dad passed away in 2004, he was still waiting for that $3. Barack Obama can expect the same dismal outcome.

Ask the first President George Bush how it worked out when he cut a deal with the Democrats in 1991 to reduce the deficit by $500 billion. All he had to do was go back a little on his “Read my lips — NO NEW TAXES” pledge and raise taxes just a little bit.

The Democrats promised not to use the tax issue in the 1992 elections. They promptly hung President Bush with it. So I say to the Republican leadership, as Margaret Thatcher once said to GHW Bush, “Now is not the time to go wobbly.” Stick to your guns and call a halt to spending nonexistent dollars.

Read More at Floyd Reports by Michael Reagan