Raising the Debt Ceiling

There is no doubt that America’s mounting public debt threatens our long-term strength and prosperity.  But those who recklessly argue that the solution lies in a default on our financial obligations are dead wrong.  If Congress fails to raise the debt limit, we will face another financial crisis and shake the world’s faith in the United States. 

The politically motivated, reckless posturing of those who argue we could default on our debt – abandoning our obligations to our creditors – is duplicitous and irresponsible. They argue that America should skip paying its national credit card bill, as if that is somehow the fiscally responsible course.  In fact, it would be the height of fiscal irresponsibility and all but guarantee a global financial crisis.  Fiscal responsibility requires fair reductions in spending and forward-thinking investment in economic growth – not a childish abandonment of our financial obligations.  America cannot, like a deadbeat, simply walk away from its commitments.