Let’s Talk… the Debt Ceiling Debate!

As early as June 1, the USA runs out of the ability to extend their debt. In other words, we hit the debt ceiling. As this has happened before, is this the same as previous debt ceiling debates or is this time different? Maybe / maybe not. Here are my thoughts. 

• First, if the speaker of the house vote is any indication, there are groups on the fringes of both sides that will hold out for their agenda rather than doing what’s best for the country. The country is more divided now and those who scream the loudest typically get the most money and attention. 
• Second, a bipartisan agreement to spending cuts / spending increases that satisfies the majority of both parties is needed in this situation. 
• Third, the risk is we get some type of default that the markets react to negatively. This would be the fringes of each party harming themselves and the country in order to further their agenda or make a point. 

In the end, our leaders need to pay the bills of the country and come together to raise the debt ceiling. Harming oneself for an agenda is never good and can lead to a lasting impact that can be felt for generations.

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