In last night’s address to his nation and to the world, President Obama made it perfectly clear that the US could not default on its financial obligations. One has to pay one’s debt and, in the case of America’s current debt, not raising the President’s debt ceiling might bring disaster. Kindly remember the Great Depression. Well, it could be that it will seem a mere dress rehearsal compared to the harm generated by defaulting on the country’s immediate financial responsiblities.
There can be no doubt that the US needs to make changes to its spending priorities. Moreover, it must tax the affluent. However, first things first. The US cannot default on its debt. We are looking at an impending economic crisis of such magnitude that it leaves little room, if any, for politicking. The time has come for several Republicans to rethink the concept of nationhood. If they fail to do so, let them leave Washington and suffer at leisure the consequences of their own ill-considered actions.