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Well, we are back at square one again, again. This fall, Congress must decide whether or not to raise the debt ceiling, allowing the United States to borrow more money to meet our financial obligations while also increasing the national debt. The debt limit is always a divisive issue whenever it returns to the national agenda, and emotions run high on both sides of the isle. Democrats generally argue that the debt ceiling must be raised to avoid national default, while Republicans generally argue that the debt ceiling should not be raised because of the need to reduce the national debt.
When the debt ceiling is raised, the national debt is allowed to grow, and the deficit is accepted as a part of the budget. To close the gap between tax revenue the government receives and the amount of money the government spends in the budget, Democrats generally argue for raising taxes on the more wealthy and better off, while Republicans generally argue for cutting spending and reducing the size of government.
This brings us back to the whether or not the United States should actually raise the debt ceiling. I am a Conservative Republican, and I agree with my party on this issue. The U.S. should not raise the debt ceiling for one simple reason: such an action would result in the unchecked rise in the national debt at the very time when we need to start enacting serious measures to start reducing it.
First let’s talk about debt. According to U.S. Debt Clock.org, The national debt for the United States current stands at close to $17 trillion, but the number is rising every day. The country’s budget deficit, or the amount of money the government borrows each year to fill the gap between tax revenues and budget spending, currently stands at $827 billion (also from U.S. Debt Clock.org). The budget deficit is added to the national debt at the end of the fiscal year.
This huge national debt is the fault of both parties. Both Democratic and Republican Presidents have posted budget deficits, which has led to the national debt we have currently. Because both parties are responsible for the incredible amount of debt we are currently saddled with, both parties should act responsibly to reduce it.
This fall’s budget ceiling debate is an important first step towards this goal of reducing the national debt. If we must raise the debt ceiling once more, let such an action be accompanied by real spending cuts so we can begin paying back the debt we have accumulated. I agree with Derrick Morgan of the Heritage Foundation, who called for a balanced budget to accompany legislation raising the debt ceiling.
Besides the basic soundness of the need for a balanced budget and the need to reduce the amount of debt we currently own, another reason why Congress should not raise the debt ceiling is because the American people do not support doing so. According to an NBC/Wall Street Journal published on September 13, 2013, Americans by a 44-22% margin overwhelmingly oppose raising the debt ceiling, vindicating Republicans in Congress and putting pressure on President Obama to accept budget cuts as a condition for raising it.
Only through real action to stop this vicious cycle of increased spending and increased debt can the United States avert disaster. It is time to begin reducing the size of government, beginning with a balanced budget and continuing with significant spending cuts, in order to put our financial house in order. Only through this action can the United States survive to see a better tomorrow, a tomorrow that allows our children to choose their own destinies, instead of forcing them to pay off our bad decisions.
Sources:
National Debt Clock, http://www.usdebtclock.org/
NBC-Wall Street Journal Poll, http://firstread.nbcnews.com/_news/2013/09/13/20463534-poll-44-percent-of-americans-oppose-raising-debt-ceiling?lite
Heritage Foundation, http://blog.heritage.org/2013/01/16/morning-bell-dont-raise-debt-ceiling-without-balancing-the-budget/
Hello, my name is Mark Besonen, and I am a senior from Apple Valley, Minnesota. I am double majoring in History and Political Science, and I hope to go on to graduate school once I graduate from Concordia. Last semester, I studied abroad in Jerusalem, Israel. Politically, I am a Conservative, and I will be articulating the Conservative/Republican point of view in my blog posts. I am looking forward to writing for the Concordian this year! God Bless America!
“When given the freedom to choose, people choose freedom.”
-Ronald Reagan.
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