The Debt Ceiling: Simplify the Process; Solve the Problem
The Debt Ceiling: Simplify the Process; Solve the Problem
July 13, 2011
By: Rep. Diana DeGette
In the coming weeks, our national leaders face extraordinary challenges. To avoid defaulting on our obligations and sending the world economyinto a tailspin, we must raise the debt limit by August 2nd. But wealso face the daunting task of balancing the budget and reducing ourdeficit, while at the same time avoiding the enactment of any solutionsthat will exacerbate the serious and stubborn joblessness in thiscountry. Unfortunately as debate and negotiations over the debt ceiling have progressed, all of these issues seem to have been inextricablylinked to one another, setting the stage for an unprecedented anddangerous path forward.
The Debt Ceiling: Simplify the Process; Solve the Problem
July 13, 2011
By: Rep. Diana DeGette
In the coming weeks, our national leaders face extraordinarychallenges. To avoid defaulting on our obligations and sending theworld economy into a tailspin, we must raise the debt limit by August2nd. But we also face the daunting task of balancing the budget andreducing our deficit, while at the same time avoiding the enactment ofany solutions that will exacerbate the serious and stubborn joblessnessin this country. Unfortunately as debate and negotiations over the debt ceiling have progressed, all of these issues seem to have beeninextricably linked to one another, setting the stage for anunprecedented and dangerous path forward.
These are serious problems, and if the White House and Congressionalleadership want to solve them they must stop conflating the process with the very real issues that need resolution. If they resisted theextreme urgings of some in their party to hold out for unpalatableconcessions on budget cuts, serious policymakers in the center couldhammer out bi-partisan solutions and mature policy decisions.
Therefore, for the good of the country, I urge the negotiators to undertake the following process:
1. Agree to raise the debt limit. Period. Disagreeable as it maybe for some, this necessary step should not be held hostage by budgetnegotiations around spending and budget balancing. The United Statescannot stop paying its bills for debts already incurred. The resultswould be catastrophic.
2. Hammer out a budget and deficit reduction plan on a bipartisanbasis. Realize that some of the choices will be difficult and somewhatunpopular, but they must be made. Do not use these talks to put forthan ideological agenda that does not save money for our national budget. This spring we wasted valuable time on restrictions on spendingexisting health care program budgets on birth control and familyplanning programs simply because of ideological political opposition.Had they succeeded, those programmatic restrictions would actually nothave reduced our federal deficit. Instead, open every program toscrutiny, including defense, agriculture subsidies, and domesticprograms. Keep an eye on equity and shared sacrifice; meaning revenuemust be on the table.
3. Do not use Social Security and Medicare to balance the programs.Recognize that they are separate trust funds which, while solvent forthe next few years and decades, must be reviewed for long-termviability. Put together a bi-partisan commission, similar to RonaldReagan's National Commission on Social Security Reform, to review thedetails of those programs as they affect future generations, whilerealizing that current beneficiaries have made their retirement plansaround current frameworks and cannot reasonably accept changes.
Too great a burden, you say? If our federal elected leadership putaside the hyper-partisanship of the last few years, agree to thesesimple ground rules and sit down, they should be able to accomplish this task. My constituents expect nothing less.Congresswoman Diana DeGette (CO-1) is Chief Deputy Whip and RankingMember on the Oversight and Investigations Subcommittee of the HouseEnergy and Commerce Committee.