A Zero Hedge Petition: Break Debt Habit, Freeze The Debt Ceiling

Washington is shifting the burden of bad choices today onto the backs of our children and grandchildren. America has a debt problem and a failure of leadership.

                - Sen. Barack Obama, 2006

While Zero Hedge has been accused of disagreeing with President Obama's statements, ideas, and policies before, we would like to state on the record that we wholeheartedly agree with the President on this one occasion, with the caveat that it was uttered at a time when i) he was not a president, and ii) he presumably actually did in fact care about "our children and grandchildren" instead of simply indulging in an onanistic splurge of spending, bailing out beta chasing bankers and hedge fund managers, and, through his appointee Ben Bernanke, reducing the national currency of the United States to a smoking hulk of burnt toast. Superimposing Obama from 2006 with his current incarnation, threatens a schizoid break no less than would dropping Bono's two alter egos (Macphisto and The Fly) in the same room without a limitless supply of Thorazine.

Ironically, the President now has to completely backtrack on his rhetoric and must tell his adoring public that he was only kidding in 2006, being a young and foolish Senator, while the grizzled and cynical Obama of today is forced to convince another pack of young and foolish Senators to raise the US federal debt ceiling from $12.1 trillion to $13 trillion. Absent this approval, the US will likely default by mid-October.

So even as the President may no longer really care for the "children and grandchildren", 300 million other Americans do. Raising the debt ceiling (first to $13 trillion, eventually to $1 quadrillion+), and printing an infinite amount of infinitely devaluing pieces of printed cotton is easy. It is also wrong. This is especially true because the President is doing it in order to inflate his way out of the massive credit crunch that would force the entire US banking system to go bankrupt and subsequently restructure- like it is supposed to- if only it were left alone to its own devices. This is why, we at Zero Hedge, appeal to you, our readers, to join us in this petition to prevent the debt ceiling from being raised... and again... and again... until such time as it is merely a joke of a formality (if we are not too late), and the US descends ever faster on its way to sovereign insolvency and its new status as a Chinese vassal state. On the bright side, there will be renewed United States interest in Nepal.

Once we have collected your signatures, we will forward the petition over to members of Senate who will certainly not change their behavior, and who will absolutely pass Obama's debt ceiling increase request, but who will be made aware that an increasing number of Americans are watching their every step and grow increasingly disapproving of the actions taken by both the Senate and the Congress, as they pile on a skyrocketing and untenable debt burden for future generations, all with the simple goal of buying some more election goodies and making sure that the current banking system can indefinitely postpone its inevitable day of reckoning.

(Only your City and Zip Code will be displayed on Zero Hedge- (we collect Zip Codes for Congressional district identification) but your name will be forwarded to the United States Senate)