Letter to the Editor

Raise the debt ceiling

As a consequence of the Federal Government spending obligations and tax cuts enacted during the Trump Administration and with the support of the Republican Party, the national debt increased from being equal to 76% of the Gross Domestic Product (GDP) to being equal to 109% of the GDP.

In spite of its contribution to creating this situation, which now requires raising the national debt ceiling, the Republicans are balking to vote in favor of doing so. This is a patiently absurd situation for the following reasons:

* Raising the debt ceiling does not authorize one single penny in additional public spending.

* For Congress to decide not to raise the debt ceiling, for programs and tax rates it has already voted into law, makes exactly as much sense as it would for a family to decide not to pay credit-card bills for the goods and services it has already purchased.

* The failure of the United States Government to pay its bills will initiate another economic recession.

* U.S. Treasury Bonds have always been considered to be an absolutely solid asset every bit as good as or better than cash. A default due to the debt ceiling will change this perception, and thereby create a situation which would lead to a severe financial crisis.

In conclusion then, the members of the House of Representatives and Senate who are willing to run the risk of severely damaging the economy of the United States are irresponsible, unpatriotic and unfit to govern.

JOHN PIEPHO, Cape Girardeau