The fiscal cliff was created by the president, who refused to negotiate with Republicans on reductions in spending, and continues on that track to this day. But the debt ceiling is one of the few levers of power for the GOP, which has been insulted and spat upon by this president. A unilateral decision to ignore the debt limit would be the latest in a series of power grabs that have made this president truly dictatorial. He acts like he has the sole power to determine which laws he apply to him. But it is beyond stunning that a once serious newspaper would endorse this behavior.

Merry Christmas, Richmond.  Can't even get Christmas Eve off from needing to respond to the insanity that has become politics 2012. Like Mitch McConnell, I thought the idea of giving President Obama the ability to exceed the debt limit all by himself was a joke! and yet, here is it, in our own Globe editorial.  Merry Christmas, Globe.  16 trillion, 20 trillion, 50 trillion -- what's the difference, and why stop there? Never thought our country's only hope would be for China to refuse to lend such an irresponsible country more money.

I realize it is fun to politically blame one party or one person for creating the debt ceiling but the truth is the three branches could not come to an agreement, the Pres. could not get what he wanted, Boehner can't control his party and the Dem. senate has held out as it should for the House to originate spending bills as it should.  The fact is all are complicit in the fiscal cliff's existence.  However going over it, Boehner owns. 

As to the debt ceiling.  What a joke.  Repubs. now want to treat as a spending vehicle whereas in actuality it is nothing more than a confirmation that the govt. will pay for spending decisions it has already committed itself too and borrowed money for.  Frankly if the Republican's wish to play with the debt limit then the President and I don't care  Repub. or Dem. should simply say fine and shut down the govt. or two ignore the Congress.  But this playing with the thing year after year needs to stop.  It is purely the action of a group of Representatives who do not wish to govern but merely wish to obstruct.  It's time they were forced to act like adults and do their job.

On wait! No one has to lend us more money.  We can just inflate our currency more! I'll bet this will be the Globe's Christmas Day editorial -- a plea for inflation, no, why stop there? hyper-inflation!  You don't even have to print the dollars anymore, you can do it with electronic transfers!  

Seriously.  I am going to assume that responsible Globe editors took the week off and let a college freshman intern, fresh from his first semester's economics class where he learned about "social justice", write the holiday editorials.

So the "solution" to the debt limit problem is to let a president ignore the law (and act, unilaterally, without precedent) or not even attempt to negotiate the matter or for Congress to simply roll over and give up the power and responsibility to limit debt? This is what the Globe suggests is a responsible path to addressing a level of spending that is on a scale of WWII like consumption of GDP. Just let a president, who's shown no interest in reigning in any kind of spending, spend without an iota of restraint? Its one thing for the Globe to be an unbridled cheerleader for everything Obama does but when you advocate giving ANY president the kind of power you are suggesting here it shows that the Globe isn't merely partisan but contemptuous of protecting the public interest. No president should have the power to ignore rational laws aimed at keeping SOME semblance of spending sobriety.

Hey Honey? Yes Dear?  I want to get a Lexus, ok?  Ok Dear.  Oh, I would like to get that second home we always dreamed about in Aspen, too, ok?  Ummm, honey....  It's ok dear, we are going to finance both of those.  Oh yea, Let's get you that new car too, while we are at!

Sweety, I just did some figuring, we cannot make those payments.

That is ok, just raise our debt ceiling!  Yanno, like Obama does.

Ummm, Sweety, that is not the way the rest of the world works.

It doesn't?

Nope.

--end of play--

Where in the world do any of you get the idea that just because a bunch of politicians decide they want to spend money, then someone else has to raise the debt ceiling to accomodate it?  Are you kidding me?

Globe editor says "Breaking with decades of precedent, House Republicans refused to raise the limit last year." Of course the Globe completely IGNORES that Barack Obama has ignored decades of precdent in running his office. This editorial by the far left (actually the FAR, FAR, FAR Left) Boston Globe is not only astounding for what it advocates, but for what it also admits to.---The Globe is ADMITTING that it knows that Barack Obama has knowingly violated the US Constitution and his oath of office. And he intends to CONTINUE doing so, even though at his second inaguaration he will once again SWEAR, with his handle on a Bible, to uphold the US Constitution. These are acts that call for his Impeachment....And the Globe's editor obviously ADMIRES the Leftist dictators Hugo Chavez of Venezuela, Peronist Cristina  Kirchner of Argentina, and the latest dictator Mohammed Morsi. All three of them came to power by pledging to be moderates who would uphold their countries Constitutions. Now all three are trying to change their constitutions to give them absolute power.

It would be a really interesting conversation if some of the dead enders knew what the "debt limit" actually is.  It isn't a spending bill.  It doesn't allow the President to spend more money.  In fact the President doesn't spend money.  The fact is the "debt limit" merely says that the Congress will pay the bills that the Congress has already incurred.  The dead enders will say the President hasn't submitted a budget that has yet been passed and they are right.  So who's budgets have been passed.  Oh right, the Congress's spending authorizations have been used.  So who's spent the money.  The Congress.  What does the debt limit say?  It says wthe US will pay its bills.  What a novel and conservative thing to do.  Pay your bills. 

Conservatives, I shouldn't say conservatives because these folks aren't consrvatives.  They're dead enders.  They will say he's violating the Constititution.  Really!  You all love to read the constititution without interpretation.  Where does it mention "debt ceiling".  Nowhere.  It might all be worth an interesting discussion of legalities and budgets if it weren't for the fact that it is nothing but politics and of course some whining by the dead enders who lost the last election.

Also, the Globe editor isn't honest here when it discusses the role of the Treasury Department. There is also Ben Bernanke and the Federal Reserve, which, like other central banks is the organization that actually prints money. Barack Obama officially has NO CONTROL over what the FED does, although it definitely tries to please Washington politicians. And besides the editor, even the Globe's Steven Syre doesn't tell the readers about the Federal Reserve Bank. ..BUT other countries are well aware. In today's WSJ is the headline "Global Currency Tensions Rise", Japan's incoming prime minister notes "The Federal Reserve's policy of flooding the market with dollars by purchasing massive amounts of Treasury bonds and other assets". Japan, Switzerland, and other countries are getting even with the FED by devaluing their own currencies...If you want REAL financial news and opinions don't read this newspaper.