For quite some time, the United States has been wrestling with a debt ceiling issue. At press time a deadline approaches, and if Congress doesn’t embrace the fiscal plan jointly proposed by House Speaker Kevin McCarthy (R) and President Joe Biden by June 5, it could spell disaster for Americans.
The crux of the problem is that a consensus must be reached to raise the debt ceiling. If this does not happen, the U.S. stands to default on its debt, which would be catastrophic. At stake is a situation that could hurt student-loan borrowers, could cause thousands of Americans to lose jobs, or could adversely affect people on food stamps, among other things.
This whole issue is truly unfortunate, but it also sheds light on economics in a broader sense. It demonstrates how unpredictable money matters are and how difficult it is to guarantee outcomes. More importantly, it highlights the fact that governments are impacted by some of the same financial challenges that rank-and-file citizens face; the differences are those of scale.
Basically, if a whole country, allegedly one like the United States, said to be the richest in the world, can find itself in a dangerous fiscal position like defaulting on the debt, what does that say about ordinary people?
In addition to this, our leaders have not adequately protected the American people. Why should citizens have to suffer due to decisions made by government leaders? Because of the financial predicament we are in, thousands of Americans stand to lose their jobs, as previously stated, if the right decisions are not made.
The biggest issue, however, is the fact we didn’t reach this fiscal situation overnight. In order to address our current predicament, we must recognize that many erroneous decisions were made for years, and we are now suffering from the consequences of strategies developed by high-level politicians in the past.
Exacerbating the situation is the fact that the U.S. is fracturing along political lines. There is a certain faction of the Republican Party determined to change the way we operate as a country; we are split. And it appears this situation was deliberately implemented for motives known by the radical faction of the GOP.
If the foregoing is true, and if regular Americans are being maltreated like sacrificial lambs by some members of elected government, we must become more involved as citizens in the workings of government in order to change this situation. Citizens must educate themselves and make their voices heard.
What our current predicament represents is that fiscal responsibility is a matter of what the great sage Hermes Trismegistus said (paraphrased): “As above, so below.” Applying this to the government and its people, the leadership reflects the masses.
In other words, how can we expect the people to succeed with an issue the government can’t? The leadership recaps the people, and vice versa. The people take on the philosophical essence of what is generated at the top, or better still, it is a reflection of those higher principles and actions.
What take-a-ways can we realize from our current fiscal situation? It seems the most important thing to take into account is that we consider a policy that encourages the “haves” to develop a greater sensitivity regarding poverty and the impact actions at the top have on the “have-nots.” Of course, this appears unrealistic, but in a utopia, this might be the model that is followed.
We are not in a utopia, however, which means we must find realistic strategies that help level the playing field for citizens. The American government has an advantage over citizens because it can create and circulate “fiat money,” i.e., money out of nothing. Citizens, on the other hand, must be shown how powerful their involvement in politics is and how it impacts their lives.
And we must ensure that people develop a real concern for each other, which is the real challenge. If our elected officials really cared for their constituents, they would never, EVER consider taking food out of the mouths of the poor in order for the rich to avoid losses. This must cease and desist! Our government officials must find a way to compromise and work together for the good of all. A Luta Continua.