Congress needs to raise the debt ceiling. The U.S. government needs to borrow to meet its obligation. These borrowings cover the congressionally approved expenditures.
Holding the U.S. economy hostage over the debt ceiling is outrageous. Raising the debt ceiling is neither the time nor the place to be playing with the full faith and credit of the U.S. government. A default by the U.S. government would raise borrowing costs, and be catastrophic for the world economy, wiping out a huge portion of people’s net worth.
If Republicans want real change, they can stop approving these bloated budgets. Congress should stop increasing the military budget. Stop starting wars that are unfunded. Stop cutting taxes without a corresponding cut in spending.
The debt ceiling increased three times under President Donald Trump. There was no holding the economy hostage. There was no drama at all. Approximately 25% of the total national debt was incurred during the Trump administration. I don’t remember the Republican Party claiming fiscal responsibility then.
Timothy Lynch
Falmouth
Send questions/comments to the editors.
Success. Please wait for the page to reload. If the page does not reload within 5 seconds, please refresh the page.
Enter your email and password to access comments.
Hi, to comment on stories you must . This profile is in addition to your subscription and website login.
Already have a commenting profile? .
Invalid username/password.
Please check your email to confirm and complete your registration.
Only subscribers are eligible to post comments. Please subscribe or login first for digital access. Here’s why.
Use the form below to reset your password. When you've submitted your account email, we will send an email with a reset code.