The Debt-Limit Hobbits

The labelling of the Tea Party as hobbits continues as shown in the following excerpt from the Wall Street Journal:

The Debt-Limit Hobbits

The GOP fantasy caucus is empowering Nancy Pelosi

The debt-limit hobbits should also realize that at this point the Washington fracas they are prolonging isn’t helping their cause. Republicans are not looking like adults to whom voters can entrust the government.

I was asked recently what title I would like used to introduce me for an upcoming event. My response never waivers when I am asked this question: patriot. Editor is also fine but labels and titles are used today to marginalize our positions. The left resorts to the “racist” label and now the right resorts to the “hobbit” label.

Thinking about the Shire as written by Tolkien reminds me of an idyllic life where the events of the outside world has no impact on me. Life is good and everyone is happily oblivious to the approaching evil. This sounds like America in the 1950s. How did that work out for the hobbits? In the end, the evil overtook the Shire and tyranny ruled until a few hobbits (experienced patriots), stood up for freedom. Were we warned about this?

“If ever a time should come, when vain and aspiring men shall possess the highest seats in Government, our country will be in need of its experienced patriots to prevent its ruin.” 

Samuel Adams 1776

So the American people are waking up to the truth: vain and aspiring men now possess the highest seat in Washington. When we speak up for our natural rights, we are marginalized by both political parties. The “hobbit” label is actually one that may suit us. America lost itself in apathy and an erosion of morality. We are now facing the impending economic collapse and this week, we sent a simple message to Washington: DO NOT RAISE THE DEBT CEILING. For this “arrogance”, we are labelled and attacked. Here is my response:


Some of us may fall, but we will be stronger for it.

What was the correct course of action concerning the debt ceiling? Which time? Consistently raising the debt ceiling does not solve the problem. The new Republican House of Representatives should have addressed this issue in late March. Postponing the issue by spending the federal employees’ pension fund showed America that Congress will NEVER address this issue.

I listened to the following video concerning Allen West’s view of the Boehner resolution:


Both versions (Thursday’s and Friday’s) would not pass in the Senate. What is the point of a “solution” that is guaranteed to fail? This is not a case of losing a battle to win a war. The clock is ticking, the debt ceiling must be raised to avoid an economic collapse and no solution to government spending to restore economic prosperity will be adopted while America capitulates to political rhetoric.

Unless some of the hobbits stand up like South Carolina.

David DeGerolamo

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Jerry Kilpatrick
Jerry Kilpatrick
10 years ago

It actually doesn’t matter whether or not the debt limit is raised … it all amounts to the same thing. If we do raise the limit, we’ll simple continue to increase the national debt (and, unfunded liabilities which amount to 10X the debt). This will result in higher interest rates, higher taxes, less competitive businesses (forcing more businesses to move offshore), higher unemployment, etc. If we don’t raise the debt limit, it will result in a lower bond rating, higher interest rates, less competitive businesses, etc. Elected officials and public officials at all levels of government have made promises to welfare & food stamp recipients and government employees that the US tax base cannot keep. I think we passed the point of no return about 20 years ago. But, the economy is so large that it’s taking a long time for us to officially go bankrupt.

The Great Depression lasted 19 years. Roosevelt’s fiscal policies didn’t end it. Neither did the spending on the war effort (2 erroneous assumptions). It ended after WWII when the US had the only industrial base left standing in the world — anyone anywhere who wanted to buy manufactured goods had to buy from us. Today, that’s no longer the case. Our industrial base is weak — we have very stiff competition. Our industrial base isn’t capable of pulling us out of the current recession. So, as they say, “Suck it up, Buttercup!” Be prepared for hyper-stagflation (very rapid reduction in buying power). We’ll soon be taking wheelbarrows full of cash to the grocery store to buy bread.

10 years ago

Jerry makes an excellent point about the “Unfunded Liabilities” of the US.

This number is shown in the lower right corner of , and I have clipped that portion of the screen to show here:

The point here is to recognize that the total assets available in the US, if we were to sell them to foreign buyers, could not fund the promises made by our politicians.

The future looks bleak when you face the facts … even more so when you look closely at what Boehner and Reid are doing:


10 years ago

The debt ceiling “debates” are not about saving the U.S. Economy and the American way of life. It is too late for that. The show in DC is political theatre for re-election purposes only. We are doomed to follow the road we have chosen.