Pros And Cons Of Debt Ceiling

The United States of America is one of the greatest countries on earth and this is the reason people from all over the world dream to come and live here because the opportunities are limitless. This is a country founded on moral values, principles of law, and respect. However, for the United States to become what it is today, its leaders had to make some real choices that would benefit or hurt generations to come and more often the choices made come with a price.

The choice of being a world leader in almost everything, whether positive or negative, requires massive control and management because people in power have tendencies to do things that cross the boundary of logic. Unfortunately this is where the American people and its leaders are

(Source CNN.com_The debt ceiling is dumb and dangerous)

Andrew Tisch further commented that “The debt ceiling is dangerous because it enables grandstanding congressmen and congresswomen to jeopardize the ironclad commitment America has kept for over two centuries: That the United States government always pays its bills. That's why our credit rating is so good.” He further argued that “If a moment arrives when people don't think the US will repay its debts, investors will demand a higher risk premium in the form of higher interest rates. And the costs would be massive.”

Democrats and Republicans agreed that a default would be bad for the government and the country’s economy. The consequences can be enormous and surely some government services would have been slashed however payments for social security and Medicaid would continue.

Interest rates would increase tremendously which would translate to higher mortgage rates and borrowing costs for everyone including the government. This would make it worse for the nation’s fiscal

The United States armed forces have military bases all over the world, amounted to 800 bases sucking up tax payers’ money by the second.

I would also slice NASA’s budget by fifty percent as well and team up with other countries to continue on whatever projects they have in line to accomplish or whether in research and development.

$44.1 billion is allocated for Homeland security; I would slice it by fifty percent. We have electronic devices that are powerful enough to help securing our borders and the ports however it is suspected that the companies who built those devices triple charge the government. I would renegotiate with those companies and would operate within the allotted budget.

$28.2 billion is budgeted for the State Department. I would shake it up and slice its budget by fifty percent. Too much ghost money had been spent by the State Department causing chaos to other nations. It is not in our interest to be hostile with other countries because it costs us too much and in the contrary it jeopardizes our security