Republicans in Congress are gambling with Americas fiscal health. They should join Democrats to increase the debt limit before its too late.
For those not familiar with arcane federal finances, think of the debt limit as the limit on a credit card. If a family hits their credit limit but keeps spending beyond their means, the bills start to pile up. That family has two options: default on their debts and declare bankruptcy or get the credit card company to increase their credit limit so they can borrow more and continue paying for what theyve already bought.
Like that family, America has maxed out its credit cards. It cant borrow more money because its hit the debt limit about $22 trillion. The bills are piling up, and the country cant…
Read the full article at: https://www.pressdemocrat.com/article/opinion/pd-editorial-republicans-debt-limit-threats-could-upend-the-economy/