letter to the editor

Destructive and false rhetoric

Mon, 05/22/2023 - 4:30pm

    Dear Editor:

    The media and politicians (mostly Democrats) keep throwing around the threat of a "default" if Congress does not increase the debt limit above the already staggering $31.4 trillion. This is either a lie or a threat to violate our Constitution. The 14th Amendment prohibits the country from defaulting on our sovereign debt. When we hit the debt ceiling, the government may no longer borrow money. However, there is plenty of ongoing revenue coming into the government every month to cover the debt service. This means that any default would only happen if the Biden Administration decides not to pay the debt service from ongoing revenue. This would be a blatant violation of the Constitution and the responsibility would be solely on the Biden administration. 

    There is no doubt that failing to raise the debt ceiling would cause a partial government shutdown and the issues related to that disruption, but it will not cause a default. The irresponsible talk of default shakes the markets and the confidence in the dollar as that currency standard of the world. The Democrats and particularly the Biden Administration must be held accountable for their destructive and false rhetoric.

    Bill Hunt

    Southport