The men and women serving in Congress as Republicans seem to have lost their collective minds.
They are threatening to allow the United States — for the first time in its history — to default on its debt obligations. They want to negotiate big spending cuts to, um, reduce the national debt before allowing the debt ceiling to be lifted.
If Congress and the president fail to reach an agreement, well, catastrophe looms. President Biden says he won’t negotiate over the debt ceiling, because it’s an action the government has taken since the founding of the republic.
If we default on our debts, all hell is going to bust loose. All hell, I’m telling ya!
I don’t know about you, but I do not want to see my retirement portfolio flushed away. Yet that is what well could happen if we default on our debts.
I hasten to add that when Republicans served as president, the GOP was OK with raising the ceiling. No problem, man. They locked arms with their Democratic colleagues.
I also want to point out that the latest GOP pol to occupy the White House ran the debt up at a greater pace than any other administration in history. Where was the Republican outrage over that? I know the answer: There was none!
Congressional Republicans need to quit playing games and threatening to bring calamity to hundreds of millions of Americans’ financial well-being.
Time is running out. Raise the damn debt ceiling!