Dire warnings have been issued from the White House concerning the need to raise the debt ceiling. You see, we are about to bypass the most recent raised ceiling once again. We’re already over $14 trillion in debt and now we’re being told we have to go even deeper into that hole:
The worst-case scenario being emphasized is that the country will default on its payments if the ceiling isn’t raised. I agree that’s a serious issue, but we seem to be overlooking one of the options:
If we’re really serious about forestalling economic Armageddon, shouldn’t we turn off the spigot? Just how high do we want this debt to go?
We also have to take into consideration what we’re doing to future generations:
The problem, of course, is that we are reaping what we have sown. If we can’t cut the spending immediately—in time to meet our obligations—we might have to raise the ceiling again. However, I won’t support any further debt unless it is accompanied by rigorous, meaningful spending reductions that will ensure it won’t have to be raised again. Is that possible? I’m not sure. I hope those in Congress who take this seriously can achieve either immediate reductions or set up a plan that will lead to major spending cuts in the coming months.
Nothing less is acceptable.