Editorial: Looming debt-ceiling crisis must be resolved

By Oklahoma Daily Editorial Board

Today, the United States of America celebrates the signing of Declaration of Independence. It’s a time to remember, to be thankful and to eat hamburgers and hot dogs. So, enjoy the day with your family.

Because tomorrow, it’s back to fighting over the debt ceiling. We could say debate, but we don’t think that’s happening.

Politicians are using the ceiling as leverage to achieve political goals along party lines. One side says spending cuts are going to be catastrophic while the other side says spending cuts are the only option. It’s like two teenagers driving a car toward a cliff and arguing whether right or left is a better option to avoid disaster.

Currently, our ability to borrow money isn’t threatened, according to The New York Times. So there is still time to figure out how we want to tackle the country’s deficient and debt ceiling. Our politicians need to sit down together and come up with a compromise that will get us to the next step.

This isn’t about achieving ideological, political goals. This is about getting work done and making sacrifices on all sides, even if it costs our politicians their political career.

However, what cannot happen is a default on our debts. At that point, our credit would have little or no value our interest rates would skyrocket. Would you lend money at favorable rates to an entity that had just defaulted? Neither would the Chinese. Something must happen before the beginning of August, which is the estimated time when our ability to function with the debt ceiling comes to an end.

We also must not forget our important roles as citizens. If our politicians can’t seem to get it right on their own, it’s time to remind them who pays their bills. Call your federal congressmen and congresswomen and tell them you are mad as hell and you aren’t going to take it anymore.

If you think they are doing a good job and leading the country to prosperity, give them your approval. If you think they are being reckless or too stubborn, let them know how you feel. As citizens, we must remind them that the will and the anger of the American people is stronger and more plentiful than the pocketbook of a corporation or union.

Our county came together 235 years ago to establish a great democracy. Let’s not let unity become an annual event.

Read more here: http://oudaily.com/news/2011/jul/04/editorial-debt-ceiling-looms-overhead/
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