Debt Limit has increased...now what.

Congress has passed a debt limit increase...

clap...clap...clap

The debt limit increase has nothing to do with the debate about balancing the budget unless you want to balance the budget right now.  The threat that the US credit rating may be downgraded persists.  Even many Tea Party people believe that that is not realistic to immediately balance the budget.  But tying the passage to commitments to trim the future budget was a smart thing to do.

Again, a balanced budget amendment is a good thing, but not until Congress is disciplined enough to balance the budget without a major personal income tax increase regardless of socioeconomic class.  Also, pay raises for Congress, the President, the Cabinet and the Joint Chiefs should be tied to a balanced budget.  This means that these people will not see pay increases unless the budget is balanced.  If you tie pay raises to a balanced budget, Congress will find a way to get it done.

We would also like to see all 50 states and all municipalities in the US be able to balance their budgets without help from the Federal Government.  This will set a positive example to all individuals who are now part of the Entitlement Generation.  If States, Counties and Cities can do without Federal assistance businesses and individuals can as well.  This battle is only beginning.