Tuesday, July 19, 2011

My message for House Republicans

Dear House Republicans,

Today you are voting on the Cut, Cap, Balance Act (H.R. 2560).

The Democrats are going to say you want to hurt poor people and senior citizens. The media are going to call you extremists. The Washington insiders are going to tell you this is all unnecessary.

They are all wrong.

It does matter. It is necessary.

If the Cut, Cap, Balance Act is extreme, it's only so in the sense that things have gotten so out of control (national debt at $14.5 trillion and counting...) that only an extreme solution has any hope of making a difference.

As far as the Democrats' claim that you want to hurt poor people, do they really think that collapsing our economic system will help?

Because that's exactly what we are risking - the entire collapse of our economic system. What else could be the result if the United States loses our bond rating? I can't improve my credit score just by spending money on a new credit card, and our country can't protect its bond rating by simply raising the debt ceiling to new absurd levels.

According to FreedomWorks:
  • Moody’s Investors Services has said the AAA rating of US government bonds is in jeopardy unless Congress passes “a budget that includes long-term deficit reduction.” 
  • Standard & Poor's has said it will downgrade US debt if the US doesn't 1) cut spending substantially and 2) REFORM the way it budgets, to control future spending. 
  • The Cut Cap and Balance Act (CCB) would meet the tests set forth by Moody's and S&P, so we never again face this kind of debt problem. In short, "CCB=AAA."
Just in case it's not patently obvious: if we lose our bond rating, interest rates will go up significantly. Guess who that hurts the most? Poor people, and seniors, whose fixed incomes leave them least able to adjust to skyrocketing interest rates.

So, House Republicans, today is a big day. You know what's the right thing to do. Stay strong. Stick together, even if the GOP leadership wavers. You outnumber the leadership and they cannot force your vote.

Vote YES on the Cut, Cap, Balance Act. We are counting on you.

Thank you.

Sincerely yours,
Sarah Rumpf

P.S. If you need any inspiration, watch this, then get over to the Capitol Building and "win one for the Gipper!"

YouTube | 40 Inspirational Speeches in 2 Minutes

"Will you fight?" "The day may come when the courage of men fails, but it is not this day!" "The line must be drawn here! This far! No farther!" "Failure is not an option!" 

Find your Member of Congress here and urge them to vote YES on the Cut, Cap, Balance Act (H.R. 2560).

[Cross-posted at The Minority Report]

UPDATE: I confirmed with the office of my Congressman, Representative Daniel Webster, that he has signed on as a co-sponsor of the bill and will be voting for it today. Thank you, Representative Webster! (Also, check out the Prioritize Spending Act, H.R. 2402, which Webster introduced.)

I've cosponsored #CutCapandBalance to cut spending now, limit future spending and pass a much-needed balance budget amendment #sayfieMon Jul 18 21:19:55 via web


  1. This needs to be sent to every member of Congress.

  2. This is one of those moments when Republicans can finally show true adult leadership in the midst of this fiscal crisis. I already know how my congressman is going to vote (yes), do you?

  3. Thanks for your comment, Jason.

    ...and YES, my Congressman is voting YES! (see update above)

  4. Giving Obama and the Democrats another $2.4 billion assures that we will have very significant inflation and a money bubble. It is a little complex but there is no more room for additional reserves in the banking system, bla, bla. Read my web site for a detailed explanation.

    The bottom line is the Republicans will be creating another bubble and in the long run, Obama hopes after his re-election, it will be a hard fall.

    Best thing Republicans could do is nothing.

    Moody's is saying that for public consumption, they do not want to be blamed for the fallout when the bubble burst. In private they are preparing for the inevitable collapse.

    Moody's, and the "smart" money, think there may be one more round of monetizing the debt before the collapse, they think 2013, some others 2016.

    When Obama gets the $2.4 trillion look at the Federal Reserve monetary base and you will be able to tell how much of the debt is being monetized and how much is "hard" debt to the public. If it is monetized there will be significant inflation.

    If "hard" debt significant "crowding out" of the private sector which is Obama's goal, and has been all along.

    One think for sure is the economy will suffer in the long run and Obama is hoping for a Bush like money bubble in the short run to get re-elected.


Creative Commons License

Creative Commons License
Permissions beyond the scope of this license are available here.