America Deserves To Default
It is what we have earned for ourselves
According to estimates by the US Treasury, the United States is just days away from defaulting on its massive debt obligations. If you are surprised to hear that, you shouldn’t be. This annual (and sometimes biannual) ritual has been going on for years. The US spends too much money, doesn’t collect enough taxes, and then raises the debt ceiling to authorize the proper authorities to borrow or print more money. Oftentimes, the debt ceiling is raised at the last second in connection with some omnibus spending bill that kicks the can down the road and increases deficit spending. Unfortunately, that can is all but spent and we are rapidly running out of road.
This time, the government is cutting it closer than ever before, which has made default more likely than ever before. And honestly, this is exactly what we deserve. This is a systemic failure that stretches from President Biden all the way down to the most obscure junior Representative. Americans willfully put this government together. For decades, Americans have gleefully ignored spending problems, growing deficits, and looming financial issues. Now Americans must grapple with the probability of default and all that entails.
Because the growing debt is nothing new, and every administration has added to it since at least 2000…
