Posted BY: Whitson G. Waldo, III
The specter of a faux default and raising the debt ceiling is a favorite Uniparty game. Such a default is a pretense because soon everyone is made whole. Unfortunately, the charade is unrelated to a balanced budget which is necessary to avoid a bona fide default with an inability to pay what’s due. Congress has no will for balancing the budget. Our elected politicians have the country on an extended glide path to sovereign debt default.
Growing our economy at a faster rate than government accrues debt, making our debt relatively smaller, seems problematic. Government growth, consuming resources, is out of control. Regulatory overreach is unprecedented. Tax cuts are anathema to the Uniparty. Costs of electricity are rising with ruinous energy policies transitioning from affordable, reliable fossil fuels to unreliable, destabilizing wind and solar.