Should the U.S. government raise the debt ceiling? | The Tylt

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Should the U.S. government raise the debt ceiling?
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If Congress does not raise the debt ceiling on March 15, the U.S. government will have to take "extraordinary measures" to avoid defaulting on its debt obligations. The Treasury Department and Democrats are calling on Republicans to pass a bill to raise the debt ceiling and prevent economic chaos. Republicans oppose raising the ceiling because they say it enables out of control spending and saddles future generations with debt. What do you think?

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Should the U.S. government raise the debt ceiling?
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In the past, Republicans—Donald Trump too—have argued against raising the debt ceiling, because they believe it enables the U.S. to continue spending in excess. If the U.S. had its finances in order, there would be no need to continually raise the debt ceiling. The alternative is to continue taking on debt and saddling future generations with the consequences of our poor financial decisions.

If, as described above, Congress puts into legislation a comprehensive plan to cut current spending, restrict future spending, and put a more effective federal budgeting process in place, there may reasonably be a place in the plan for a modest increase in the debt limit to the extent that such an increase is necessary to accomplish a prompt, orderly transition to the new policy and funding regime that will drive down spending and borrowing. Such an orderly transition is preferable to a chaotic transition forced by the debt limit’s rendering the government unable to pay some of its non-debt obligations.

But the least acceptable outcome is for Congress to continue to raise the debt ceiling over and over, doing nothing to drive down federal spending and borrowing, and to pile trillions of dollars in debt upon the shoulders of America’s children and the generations to follow.

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House Democrats are calling on Trump and GOP representatives to do their job and make sure government continues to function. 

“It is imperative that you, like all of your predecessors, send a clear message that the United States will continue to pay its debts, on time, and in full,” House Budget Committee ranking member John Yarmuth (D-Ky.) and House Ways and Means Committee ranking member Richard Neal (D-Mass.) said Monday in a letter to Trump.

Defaulting on U.S. debt would be disastrous for the American people, and both the U.S. and global economy. The debt ceiling does not authorize additional spending. Instead, it authorizes the government to borrow money to pay for existing debt obligations.

Neal and Yarmuth said that it is important for Congress to raise the debt limit so that the U.S. can continue to pay its obligations, such as Social Security and Medicare benefits, veterans' healthcare benefits and interest on U.S. Treasury bonds.
“You have promised the American people that you will not support Republican proposals to cut Social Security and Medicare," the lawmakers told Trump. "We would remind you that a failure to raise the debt limit would also prevent us from honoring those promises to seniors.”
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Post by Patrick Warn.
#WeMustPayDebts
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#WeMustPayDebts
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Post by Eve Haslam.
FINAL RESULTS
Politics
Should the U.S. government raise the debt ceiling?
A festive crown for the winner
#WeMustPayDebts
#StopBorrowingMoney