OPINION- Debt Ceiling Shows GOP v.s Dems Getting Old

If America’s debt ceiling issue isn’t resolved by August 3, someone isn’t getting paid. That is the dilemma this country faces as partisanship continues to corrupt the process of getting things done.

For definitions sake, the debt-ceiling is the maximum amount of money that the U.S can owe to anyone at any time. According to CNN, the current cap is set at 14.3 trillion dollars in debt. The U.S needs to borrow more money to operate. In order to do that, the debt ceiling has to be raised.

Republicans are basically saying they are willing to increase the debt ceiling the way President Obama wants. The catch is that they want guaranteed spending cuts to take effect now. They want to fix the US budget so that it doesn’t drive America into a further level of debt.

Democrats, on the other hand, feel that this is not the right time in the economic recovery process to start cutting government spending. Consumers and businesses have not yet fully recovered from the effects of the recession. They’re not spending enough. The government has replaced that spending. If you pull back now, you risk putting the country back into economic downturn.

So what else is new? Republicans and Democrats are disagreeing. Haven’t we seen this movie before? As a matter of fact, we have….for the past 50 years. It’s getting old.

Both sides need to get real. Something’s got to give. There is no room for pride when it comes to this country’s future. I could honestly see both strategies working, but both have about the same chance of failure as well. Just pick something! Easier said than done, but it’s pressure time. America’s financial future depends on it.

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