Most people, whether they live in the city, town or country, believe in paying their debts.
If congress doesn’t extend the debt ceiling, the United States will be defaulting on debts that it already owes.
What is at stake for people if congress doesn’t extend the debt ceiling by June 1?
First, I and other senior citizens will not get their June Social Security checks, which affects our ability to pay for food, rent, utilities, prescriptions, and other essentials, which will have ripple down effects to the rest of the economy.
Second, veterans will not receive their benefits, which will have similar effects on their lives and the economy.
Next there would be government employees who would not receive their pay.
If the US defaults on their payments, experts say it will bring chaos into Wall Street, stocks prices will plunge, and we will go into a recession.
Internationally, the loss of the good faith of the American dollar is something we can never get back. It may even blow up the world economy.
Most Republicans in congress want to force spending cuts that affect the neediest; they rejected the freeze in spending that Biden offered and ruled out repealing tax cuts for the wealthy.
They do not seem to mind the economic chaos that would occur if there would be a default; perhaps they want an economic downturn on President Biden’s watch?
If you want to get your Social Security check next week, please contact Representative Balderson at 614-523-2555 to urge him to extend the debt ceiling to prevent default on our national debt.
Any policy changes that congress wants to see related to the budget should happen in budget negotiations, not with the debt ceiling, which involves money we already owe. Negotiate the budget in good faith.
Patricia Keane
Mount Vernon, Ohio
