Default on national debt risks worldwide economic crisis

I’m no economist, but even I can see that Republican obstruction on fiscal issues can lead to disastrous results. Especially when the world economy — including our own — is teetering on the edge of recession.

“Defunding” the IRS — the main revenue authority for the U.S. government — is completely counter-productive if they are serious about reducing the federal deficit. It’s like choosing to quit a good paying job and opting for minimum wage, when your expenses get high.

Additionally, allowing a government default on debts already incurred through prior congressional appropriations, (by refusing to raise the debt ceiling) would make things worse. Like a business that suddenly loses its customers, revenue shortages will necessarily halt payment on debts already owed. Domestically, it means that government employees, Social Security, Medicare recipients, and military personnel, will not be paid. Internationally, it creates a domino effect that defunds and destabilizes our allies, international business and banking.

If Republicans want to curb spending, they should do it through budget negotiations for upcoming years, not by refusing to pay for previously agreed upon spending, and undermining tax revenues. The fact that they even suggest this, compromises American fiscal integrity. This is clearly not the way to “Make America Great Again.”

Ann Morgan

Everett