Debt Limit: Economic Tool or Political Weapon?

Once again the U.S. must raise the debt limit or face financial crisis. Democrats and Republicans agree. So why is this topic in the news?
For one thing, a large number of Americans are confused about what the debt limit is. When we are less informed, we are more easily manipulated and pushed toward anger.

For another thing, the fact that this needs to be done gives politicians leverage. While all of America will suffer if the debt limit is not raised, the party in power will be the one to look bad if they can’t get it raised in time. That means the party not in power can use the debt limit as a bargaining chip.

Pre-reads for this meeting include some reference material to make sure we all understand what the debt limit is and how it relates to the deficit and spending.

Join us as we discuss our country’s options and have a voice in our Nation’s Conversation! People of all views are welcomed, appreciated, and heard.

For part 1 of the conversation
– Debt Limit | US Treasury Department (https://home.treasury.gov/policy-issues/financial-markets-financial-institutions-and-fiscal-service/debt-limit)
– (video 3:09) Robert Bixby explains the federal debt limit (https://www.c-span.org/video/?c4979994/user-clip-robert-bixby-explains-federal-debt-limit)
– 7 Countries with Debt Ceilings or Limits (https://www.investmentfrontier.com/2013/10/08/7-countries-with-debt-ceilings-or-limits/)

For part 2 of the conversation
– Bargaining chip definition | The Political Dictionary (https://politicaldictionary.com/words/bargaining-chip/)
– U.S. debt limit constrains nothing but honesty (https://www.post-gazette.com/opinion/Op-Ed/2021/09/24/U-S-debt-limit-constrains-nothing-but-honesty/stories/202109240007)
– How congressional Republicans can use the debt-limit vote to push meaningful reform (https://www.nationalreview.com/2021/09/the-debt-limit-can-save-us/)