Just Default Already
Derek Hunter
It’s one for the rites of passage in politics – watching Republicans and Democrats pretend to engage in a “stand-off” over the debt ceiling. We’ve heard this song before and we’ll hear it again, it’s what they do. It allows Republicans to be seen as caring about spending and Democrats to pretend to stand up to them. It’s as big of a joke as you imagine. So why not just default already?
Look, I know default won’t be pretty and I’m not here to tell you it will be good, but it is going to happen, sooner or later. (And, honestly, if it were to happen now it would be a choice by Treasury Secretary Janet Yellen under the orders of President Joe Biden because we take in enough money to cover our debt payments, but that’s beside the point.)
Our government has spent almost $32 trillion more than it has taken in – about $95,000 per person or $250,000 per actual taxpayer – and there’s no way it will ever be paid off. I don’t say that because it’s impossible mathematically, I say it because it’s impossible politically. Only a handful of Members of Congress even pretend to care, fewer still actually do, and none of them are in a position to do anything serious about it.
We will default at some point, the sooner we do it the better off we’ll be.
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https://townhall.com/columnists/derekhunter/2023/05/28/just-default-already-n2623779
