Extortion Politics: Why Won't American Business Stop their GOP From Threatening to Blow Up The Economy?
As the government approaches its borrowing limit of $14.3 trillion, Republicans are seeking political advantage over what conditions should be attached to raising that limit.
This is a scandal — or should be. Raising the debt limit shouldn’t be subject to party
politics. Economic extortion should be out of bounds.
It’s bad enough government shutdowns have become an accepted part of political negotiation. But failure to increase the amount the Treasury can borrow would have far graver results.
Not only would the government be unable to issue Social Security or Medicare checks but the United States couldn’t pay interest on its current debt.
We’d go into default. The full faith and credit of the United States would be in jeopardy. Treasury bonds would go
