Don’t Let Debt Limit Drive Nation Into Deep Recession

Target: Kevin McCarthy, Speaker of the House

Goal: Raise debt ceiling limit without caveats to avoid further economic hardships for Americans.

When an individual defaults on debt, the consequences typically have a sizeable negative impact on that individual. When a nation does the same thing, the effects do not fall on the leaders who created the quagmire but rather on the ordinary citizens who are left to handle the mess. The United States is very close to creating an unprecedented mess for its citizenry.

The so-called debt ceiling, in simple terms, enables the U.S. to pay its bills and honor its debt obligations. If the country does not raise the debt ceiling, it enters into default. The economic consequences are immediate and cascading: rising interest rates, a halt of payments for programs such as Social Security, a freeze in pay for government employees, a loss of jobs in states from Florida to California, and other stressors that make a prolonged and painful recession all but inevitable.

Congress holds ultimate responsibility for raising the debt limit when needed and avoiding default. For decades, this process unfolded in a mundane and non-controversial manner. Yet in recent years, the debt ceiling has morphed into yet another weapon for warring political factions to use against each other. The party that holds power in Congress attaches plentiful unrelated demands to any debt ceiling legislation in an attempt to force the other side into surrender. This familiar narrative is unfolding now within the House of Representatives, where Republican leaders are demanding slashes in funding for certain programs…or else.

Once again, politicians are holding needed legislation hostage and leaving their constituents vulnerable because of their own ineptitude and inability to manage. Sign the petition below to demand these so-called leaders put their egos and politics aside and preserve America’s economic and credit standing.

PETITION LETTER:

Dear Speaker McCarthy,

Finance experts now predict an ever-rising probability of at least a debt ceiling breach, if not a full default. This outcome would not only do serious damage to America’s reputation globally, but it would cause immediate economic destruction domestically in communities across the country. While politicians in Washington may see the debt ceiling as nothing more than a political weapon and an instrument for more power grabs, for the everyday American this abstract concept will crash into their lives with a hard reality of lost jobs, lost wages, lost benefits, and yet more lost faith in their supposed leaders. The only losers will be the American people, and they will not shower you with goodwill for standing by, doing nothing, and potentially violating the 14th Amendment of the Constitution.

Please stop legislating for election time and start leading for the here and now. Do not fail your constituents, and do now allow this nation—for the first time in history—to default on its debts. Pass a straight-line debt ceiling bill for the good of this country and for the betterment of the people who elected you to serve them…not your own interests.

Sincerely,

[Your Name Here]

Photo Credit: Karolina Grabowska


Leave a Reply

Your email address will not be published. Required fields are marked *

*

276 Signatures

  • Amber Remelin
  • Anne Corrigan
  • John B
  • Evan Jane Kriss
  • Rebecca Martin
  • Emilia Bradley
  • Lore Goldstein
  • Donna Caputo
  • Shirley McAlister
  • Jocelyne Behr
1 of 28123...28
Skip to toolbar