Debt ceiling is another tool to strike fear

Are you tired of all the political theater coming from D.C.? Are you tired of hearing “financial Armageddon,” “catastrophe” and “calamitous” coming from the power brokers in D.C.?

Do you know that the debt ceiling has been increased 76 times since it was first established in 1917 by the Second Liberty Bond Act? Do you know that the United States has defaulted five times in the past (1779, 1782, 1862, 1934 and 1979)? The 1979 default was caused by small administrative errors that were quickly corrected and extra interest paid.

Last I looked, the Earth is still spinning around the sun and most residents are still pursuing their normal daily activities. It is only the politicians and bankers who are concerned because they will lose an element of power and so they resort to fear as they have done many times in the past.

Do you remember Y2K? The justification to spend more of your dollars to prevent all the world's computers grinding to a halt at the stroke of midnight on Jan. 1, 2000. How about Iraq and the non-existent weapons of mass destruction? How about our tragic involvement in Afghanistan? How about Homeland Security?

The fear mongers in D.C. will always look for a way to increase their control over the masses and most new legislation increases the public dependence and reduces self reliance. When will Americans say enough is enough? Have we already been bought?

David Faribault

Cedar Rapids