RON KING

Partisan politics is a threat to the debt ceiling and a potential (historical) default on U.S. obligations.

The U.S. government monetary and fiscal policy is basically putting taxes, revenue, and U.S. securities (borrowed money) to work for the nation on which the economic well-being of its citizens depends. This includes paying our bills for the expenditure of public funds (budgets) — the debt ceiling.

Sometime in October 2021, the government is expected to hit the “debt ceiling” — meaning it no longer has the authority to borrow the money it needs to pay its bills … unless the debt ceiling is raised.

The debt is due to past legislation and financial decisions, including the $2 trillion corporate tax cut by former President Donald Trump, as well as massive coronavirus pandemic relief packages approved under both the Trump and Biden presidencies. The debt ceiling was suspended in 2019 until August 2021 under Trump with the Senate Republican majority and Democrats passing the bill, 67 to 28. The national debt ceiling was repeatedly raised under Trump ($7.8 trillion) by bipartisan vote.

Senator Ted Cruz has said that he’ll filibuster debt ceiling legislation and block any vote by the Senate to raise the debt ceiling. Cruz filibustered against the healthcare law (Obamacare) in 2013 and stopped congressional functions while reciting Dr. Seuss’s Green Eggs and Ham.

Senator Rand Paul filibustered an appropriations bill that shutdown the government during February 2018.

The government was also shutdown on December 22, 2018 until January 25, 2019 after President Trump vetoed an appropriations bill. It had funded the defense department and pandemic aid but not a border wall.

Senate minority leader Mitch McConnell has repeatedly said Senate Republicans will not vote to raise the current debt ceiling. He is playing a game of “chicken” that could mean the Senate will not have the votes to raise it; the government could default on its loans for the first time in history, have its credit rating downgraded, and reduce federal spending by approximately 40 percent.

The financial interests of the U.S., e.g., Social Security payments, Medicare benefits, federal civilian and military salaries, and interest rates, would be impacted and immediately harmed by the Republicans not voting to pay for expenses and money already spent.

Setting borrowing limits has been a power reserved for Congress, to which the Constitution grants sole authority to raise revenue, spend taxpayer dollars, “pay the debts” and “borrow money on the credit of the United States.”

The debt ceiling game of “chicken” is brazen and extremely detrimental to the interests of the United States. Republican members of Congress voting against raising the current debt ceiling (“payment of the national debt”) or not voting at all shall do irreparable injury to the United States.

Republican actions or inaction that undermines 1) the constitutional duty to pay the national debt and 2) the confidence in the validity and rating of the U.S. public debt is treasonous.

We pay our bills.

Ron King is a resident of Frederick County.

(11) comments

Old Western Man

[lol] We all should know by now that the Republicans will ultimately fold on this, as they have every time previously. They have never really been the Party of limited government, just giving it a nod to attract votes ever since the Democrat Party abandoned it.

That said, why have a debt ceiling at all. For that matter why collect taxes at all, when there is no serious effort to balancing government revenue with expenditures. The US is not immune to the laws of economics. At some point, this irresponsible debt accumulation will have stolen the opportunities of a future generation(s) who will then endure the forced austerity that will surely follow.

Debt reduction should be a bipartisan objective, unfortunately the Democrats MO is to trade government largess for votes and the Republicans MO is token resistance.

Doc Samson

@OWM - Wow! It's almost like you hold principles and values OVER party! What's wrong with you??? Along with an unlimited debt ceiling, why aren't we raising minimum wage to $50/hr? Pr0g-Leftists always cry about the poor, homeless, destitute, etc. Surely, Pelosi et. al. could "fix" the problem... if they REALLY cared. PS - Sarcasm was liberally employed in this post...

Old Western Man

[lol] an archaic notion of principles and values over political vehicle, weird indeed eh Doc.

Spot on contribution with the minimum wage placebo. The mob is satiated with bread and circuses (Juvenal), while the nation rots.

Blackhorsegirl

They were more than happy to do that when “their man” was in office. Now, they’re just obstructionist who care little for our beloved country or the citizens who live here.

Doc Samson

"They were more than happy to do that when “their man” was in office"

No they weren't, idiot. There were MANY conservatives who had issues with Trump's budget. But, as usual, you don't let facts distort your fantasy! [thumbup]

Spock Here

Are those "many" conservatives still in the good graces of the now trumpist party or have they been kicked to the curb like Liz Cheney?

Blackhorsegirl

Let’s rephrase this, Mr. Spock. Mitch McConnell was the leader and was happy to raise the debt limit. Now, he’s an obstructionist and a squawker.

Jonboy3000

Ron, you are right. People don’t understand the implications on their life if this isn’t passed.

Doc Samson

I know, right? How did people make it before Big Gov't? Unpossible! [lol]

Catherine Giovannoni

I agree with Mr. King. Republicans need to show that they can act in a bipartisan manner and preserve the full faith and credit of the United States.

Doc Samson

Feel free to name a single time the Repubs DIDN'T end up passing a budget? Pretty sure it's the "patriotic" thing to do! [lol]

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