December 15, 2021, marks the day the United States would have entered its first default on all of the debt we’ve accrued. In an effort to stop this from happening Democrats have called a session to raise the debt ceiling. The proposed increase would be $2.5 trillion. The result of our default would lead to an economic recession.
To think that increasing our debt ceiling would solve the debt problem more than just cutting back on spending is ludicrous. Our government knew about this deadline for years and nothing has been done to combat this growing problem of debt. Everyone feels the pressure and only the middle class has to make concessions when it comes to cutting back on spending. Our government expects the common person to do more for our country’s debt issue than our elected officials.
Republicans are of course against the debt ceiling increase and oppose it in session but with Democrats having the majority in Congress and the President’s seat, there’s little that can be done. Republicans’ stance is that the Democrats want to raise the debt ceiling but are more than willing to contribute to the debt issue in America by passing a $1.75 trillion dollar package for social services and climate change.
Republicans would be much more amenable if certain measures were put in place to combat the massive amount of debt America has. However, raising the debt ceiling doesn’t necessarily mean that new spending has been approved, it just buys us more breathing room to pass other spending bills that need to be passed.