Fiscal Responsibility

NYTimes Ed Board Blasts Speaker Boehner’s Reckless Debt Ceiling Tactic

We’re not the only ones opposing Speaker Boehner’s reckless tactic to hold our nation’s creditworthiness hostage as Republicans prepare to play political games with the debt limit. From the New York Times:

“Just when Speaker John Boehner should be warning his members not to use the debt ceiling as a threat, he is doing exactly the opposite. Instead of reminding lawmakers that they are obligated to pay for the debts they voted to incur, he is once again waving the dull saber of default.”

“It’s more than ‘unfair’ to wage this fight again; it’s a reckless abdication of Mr. Boehner’s responsibility to guide House Republicans away from the brink. Too many Tea Party members of the House have spread the dangerous falsehood that a default would be of little consequence, that it would merely shake up Washington a bit and cut the deficit, which is already declining. One of them, Ted Yoho of Florida, recently said that a default would actually raise the government’s credit rating. No responsible economist or business leader agrees with that. In 2011, the credit rating of the United States declined when Republicans merely threatened not to raise the limit. If they actually refused to raise the debt ceiling, the markets would crash, interest rates would skyrocket, benefit checks and military spending would be at risk, and the fragile economic recovery would probably grind to a halt.”

“Mr. Boehner, who has previously said he would not allow a default to take place, should be reminding House members of the potential catastrophe instead of encouraging their worst impulses and raising their hopes that this ‘whale of a fight’ could win them new victories.”

It’s interesting that Speaker Boehner seems to think playing games with our nation’s economy is the best way to govern, even saying, “I wish I could tell you it was going to be pretty and polite and it would all be finished a month before we’d ever get to the debt ceiling. Sorry — it just doesn’t work that way.”

Newsflash! Actually, it can and should work that way. You don’t have to threaten a default, you can just be responsible and get your work done. Unfortunately Republicans appear to prefer a crisis instead.