On Raising the Debt Ceiling
One of the hottest items on the new Congress to-do list is the debt ceiling. Factions from all sides are staking their territory and drawing lines in the sand.
Seems that the United States has just about maxed out the credit card once again at the $14 Trillion mark. Soon, the credit limit must be extended or we as a nation may not be able to pay for anything.
Some are saying that the limit must be raised, so as to meet requirements, and avoid defaulting on current debts. Others, however, are seemingly choosing this hill to die on, claiming enough is enough, and if it leads to default, oh well, it has to be done!
I’ve thought about it quite a bit, and I think I sort of come down in between. While the debt is way too high already, one can’t just snap their fingers and make it better; it takes time, planning, and sometimes a little more debt to turn that around. On the other hand, our elected officials must make the best use possible of that credit, and pay it down as quickly as possible while maintaining fiscal solvency.
Many, especially on the Conservative side, believe that the nation should never incur debt for any reason. I can’t follow this thinking. There may be instances where debt may be necessary, such as a military invasion of our country, or massive natural disaster that needs quick response.
The problem comes when the ceiling is raised, as it has been repeatedly over the years, the Washington Machine continues to hum away like nothing is wrong, until we approach the new limit and the hand-wringing starts anew.
I’m not completely opposed to raising a new limit at this moment. However, the Congress needs to make significant, deep, and meaningful cuts to the Federal budget, and do it immediately. One could probably very quickly find vast amounts of funding to cut off by looking at the insane programs that are always being done, like $12Million to study the mating habits of PinOaks in the Midwest.
Even the Defense Department should not be immune, completely, from trimming. There are many outdated, inefficient, and unnecessary programs out there that we can rein in.
So, Congress, I’m willing to raise the limit on that credit card, on a provisional basis. Don’t take that new credit and go on a trip to Disney World, or buy a new sports car. Do your jobs, and get Our House in order.
We will be watching.