If there is one thing that Americans are getting fed up with, it’s the lack of bipartisan willingness to help get this country back on track. From the moment President Trump took office, Democrats have become outright rebellious (alongside some GOP traitors as well), preferring to let this nation implode rather than work together.
Nancy Pelosi is letting people know that she would rather see this nation implode financially than work together with Trump. According to The Washington Times, Pelosi said that the GOP would have to pass a bill to raise the debt ceiling without any support from the Democrats. If this bill suffers the same fate as the Obamacare repeal bill that stalled out thanks to rebels within the GOP, the US could very well default on its debts – a nightmare that would make 2008 look like an economic hiccup in comparison.
House Minority Leader Nancy Pelosi said that getting a bill passed to raise the debt ceiling was not up to the Democrats, but the Republicans. “With the White House, House and Senate under one party control, the American people can expect and deserve a plan from Republicans to avert a catastrophic default,” she stated.
Even worse, Pelosi had the nerve to suggest that “with so much at risk for hard-working families, Republicans need to stop the chaos and sort themselves out in a hurry,” a comment that abdicated any responsibility the Democrats have for dealing with the problem.
For eight years under the Obama administration, the Democrats sat idly by, watching the former president increase this nation’s debt by one trillion dollars every year – a 68 percent increase.
They kept kicking the can down the road, knowing that the next person to come into office would have to deal with the financial irresponsibility of the Obama administration. With it being Trump, a person they very much dislike, it seems that they are more than willing to see the United States default on its loans in order to destroy the Trump administration for good.
The president himself said that “now we have a big deal with Dems holding them up (as usual) on Debt Ceiling approval. Could have been so easy – now a mess!”
The Democrats are playing a nightmarish game of chicken, in which they are refusing to back down despite the looming threats of America defaulting on its loans.
To put things in perspective, many top economists and government officials felt that the 2008 crisis, if the government didn’t bail the Wall Street Banks out, could have led to a financial meltdown with global ramifications.
If just a few key investment banks could cause that much of a danger, imagine the chaotic scale of events that would unfold if the United States announced it can’t pay its debts anymore – or even declared bankruptcy!
Of course, the US dollar isn’t just any normal currency. Used throughout the globe as a reserve currency of sorts, our historically strong dollar has been an important part of our nation’s economic dominance. Should trust in the dollar collapse, as it would if the United States failed to comply with its debts, we could see a situation where nations all across the world got rid of their reserves of US dollars – resulting in a spiraling crash that would devastate the US economy.
Nancy Pelosi is letting people know that she would rather see this nation implode financially than work together with Trump. Is Pelosi responsible for the lack of Democratic support for anything Trump related?
One might question, since the United States is able to alter the supply of US dollars by simply printing more into existence, why there couldn’t just be more money printed. Similar to the quantitative easing done by Ben Bernanke in the post-2008 years, it is possible to just print more money as a short-term solution to deal with America’s debts.
The problem here is that not only would this not solve anything and only kick the proverbial can down the road again, it would also accelerate inflation, devaluing the savings of average Americans across the nation. The last thing anyone wants is a situation like in Weimar, Germany, where citizens needed to haul a wheelbarrow full of money just to purchase one loaf of bread.
The debt situation facing this country is perhaps the biggest financial threat facing America’s survival, and the fact that the Democrats are more interested in playing politics than facing it is disturbing, to say the least.