The US national debt is increases when Congress passes a budget that exceeds revenues. Increasing the “national debt” does not increase the debt. It should be required that any budget passed by Congress and continuing resolutions include legislation that authorizes the Treasury to borrow additional funds when required to meet the obligations Congress has previously approved. The political theatre that played out at the insistence of the Tea Party and Senator Ted Cruz cost the nation billions of dollars while making the US a comedy to be enjoyed and profited by our enemies and competitors.
The Chinese won tremendously with England for the first time, arranging for trading their currency in an international setting. To have attacked the full faith and credit of the United States for political gain brings into question the patriotism of those advocating a default.
Brinkmanship is a game that should be played with caution and consideration of the consequences. Wars have been started by fools willing to believe bluff would conquer their foes. The districts that elected members of the Tea Party are so far removed from the reality of Democracy to insure the same reactionaries will be returned to office. These voters believe compromise is poison and that winning means the destruction of any opposition.
Sadly, it may be no lessons were learned during the government shutdown and the threat posed to our national security by threatening the good faith and credit of the US will once again be a prize awarded our enemies.
Edward Horn
