The pressing question floating about Washington today, is will the United States of America default on its current debt if the debt ceiling is not raised? This is what the President and any number of economic pundits would have the American People believe. The idea that the government will default on its debts unless extended more credit is absolutely ludicrous. The assumption under which the President and his supporters operate is that unless the United States borrows more money there will be no funds to operate the government. This thinking discounts the three trillion in expected revenue the government will have the next fiscal year collected from the American people. With that three trillion dollars Congress and President Obama can and should be able construct a budget that would adequately fund the government. The fear of these inept politicians is that the American People will realize that they will survive and possibly prosper with a smaller Federal government. They fear that they may be unable to pay back their cronies for their campaign contributions. It is unconscionable that the fear-mongering sycophants currently in government, elected in good faith by the American People, can not or will not address the pressing budget problems of the United States. Instead they threaten the world with debt default. The United States can not by law default on its debt. Section 4 of the 14th Amendment to the Constitution clearly states:
“The validity of the public debt of the United States, authorized by law, including debts incurred for payment of pensions and bounties for service in suppressing insurrections or rebellions, shall not be questioned.”
So, here we stand with party line politicians throwing a temper tantrum and threatening to default on the debt of the United States which they constitutionally can not do, all in order to expand the debt of the American people to fund their pet projects. Not increasing the debt limit would result in only one thing. It would require that Congress and the President balance the Budget immediately. Hard choices would have to be made. The American people in balancing their household budgets do this every day. Congress and the President can also make the hard choices if forced to balance the Nations budget. They will not make those choices if given more borrowing power. We as Americans must stop this madness of unlimited Federal government borrowing against future generations. Not raising the debt limit is the only moral thing to do.
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