Credit Bill Too High? Don’t Pay!
You buy an expensive computer on credit and later think, “That cost too much, so I won’t pay.”
That’s what anyone who refuses to raise the US debt ceiling is saying.
They are confused.
They think that not raising the debt ceiling means not raising the credit limit. They are actually refusing to pay a debt we’ve already incurred.
If the US refuses to pay their debts for the first time in history, chaos will erupt.
No one will trust us anymore.
And instead of saving money, interest rates will rise, and we’ll end up spending even more. One-month Treasury bill rates are already spiking.
(And, just one week of government shutdown — another matter — cost us $1.6 billion. Yet the deficit-phobe GOP doesn’t care?)
Still, more than half of Republicans think the US can miss the debt-limit deadline without serious trouble.
Most likely, these are the same folks who believed FOXNews reports that Romney would win the White House.
Meanwhile, the refusal to pay our bills is being pushed by economic terrorists.
Elections won’t go your way? Threaten to blow up the economy unless you get what you want.
Al Qaeda once sought to decimate our financial system. Now it’s right-wing extremists.
It’s the far right doing hostage-taking this time. Could be the far left next time.
We should not give terrorists “a win.” Lest we leave democracy and enter a new era of political terrorism.
Tom Friedman at the New York Times worries that what is at stake
is nothing less than the principle upon which our democracy is based: majority rule. President Obama must not give in to this hostage taking… because the future of how we govern ourselves is at stake.
Don’t negotiate with terrorists. It only encourages them.
Posted on October 11, 2013, in politics/class inequality and tagged economic terrorism, government shutdown, hostage-taking, politics/class inequality, Thomas Friedman, US debt ceiling. Bookmark the permalink. 11 Comments.