With an annual deficit of over a trillion dollars and an economy still very fragile, not growing jobs, and with major concerns of a double dip; the debt ceiling is facing Congress in the next few months leaving freshman on the right in a difficult position: Do you vote to allow the debt to grow to keep government running while you campaigned against raising the debt ceiling OR do you vote against the debt ceiling raise and shut down government, kill vital services for people, and risk destroying the US economy almost overnight?
No one argues that the deficit needs to be addressed, however, how that is to be done is another question. Everyone likes the talk of shared sacrifice or cutting the budget or raising taxes depending on their views. However, they never seem to want it to be their taxes raised or their projects cut.
Additionally, while the deficit needs to be managed, to shut down government and refuse to allow any further spending so sharply could have several negative consequences, including crashing the economy very quickly as people suddenly and dramatically lose benefits and services.
To cut over a trillion dollars from government spending overnight would absolutely crush the economy too.
At some point, ideologues need to start dealing with reality. The question that concerns us should be: will we have to suffer from their naivity?
Strange Things Are Afoot at the Lege
1 year ago