Editorial: Oklahoma Senators Should Vote For Increase In Borrowing Limit To Avoid Possible Financial Crisis | Editorial
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Republicans and Democrats now face routine deadlocks over national debt limits.
Associated press kit
The now common political wrangling over the debt ceiling has become as boring as it is essential for the nation.
The increase in the borrowing limit in the United States previously allowed for bipartisan support to avoid loan defaults. It has received little attention because lawmakers have recognized its need.
Payment defaults could trigger government shutdowns and a financial crisis. This possibility as the United States pulls out of a pandemic shutdown has dire possibilities.
We are concerned about the increase in debt that began three presidents ago. This is not a new problem, and one which will not be solved by a single ill-conceived political maneuver that will only worsen the economy.
The increase in the debt ceiling in 2019 also got bogged down in political maneuvering and rhetoric. President Donald Trump leaned on Democrats to approve a higher debt ceiling and pass his budget deal.
Top Democrats say those votes were cast to garner similar support from Republicans going forward. Senate Minority Leader Mitch McConnell said Republicans will not now back opposition to President Joe Biden’s infrastructure proposal.
In 2019, US Senator Jim Inhofe welcomed passage of Trump’s budget bill while Senator James Lankford voted against.
Lankford explained his vote: “We should not raise the national debt ceiling without reducing overspending. Our budget process is broken and we won’t get a better product until we have a better process.
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