This be the argument in support of spending cuts, or the first part of it:
White House press secretary Jay Carney said Republicans should not “play chicken with the economy.” The administration wants a prompt vote to raise the federal debt ceiling quickly. Carney went on to say, “The consequences of not raising the debt ceiling would be Armageddon-like in terms of the economy.”
But then again, if the federal debt limit keeps getting raised without any real new spending-limitation rules, Armageddon for the economy may come just as quickly. . .
Thus Larry Kudlow, as good a guru as any in this matter.
“Our tightly controlled educational system mocks the promise of democracy. With a closed educational system we simply cannot have an open political system. The current situation allows the government and big business to manufacture and maintain our culture for us, and in turn, control remains in the hands of the experts and institutions. The ability to change this situation is in the hands of the individuals and families who understand why change is necessary.”