Now, I am not an expert in politics. In fact, I have only taken one class in college on the subject during my undergraduate studies, but I did get an 'A-' in the class, so I theoretically learned something.
Anyway, I pay attention to the news and what is going on in the world of politics and this argument over the debt ceiling has really began to become what I consider a serious issue, but is being treated as a joke by politicians.
It is my understanding that all the members of Congress take an oath to support and defend the U.S. Constitution from all enemies, foreign or domestic, and it is the job of Congress to raise taxes, borrow money on the credit of the United States, and basically be the financial portion of the government.
I will admit that I have difficulty budgeting my own money, so some may call me out on my inability to judge congress on this issue. The major difference here between Congress and I, is that I don't have the ability to raise my own income (taxes), especially when I am unemployed, or raise my debt ceiling to give myself more credit to pay other options off.
With that in mind, I find the tactics that are being used by Democrats and Republicans as nothing more than partisan politics being used as a way to try and divide the nation. Unfortunately, playing games with the countries finances, to me, appears to be in violation of there oath of office to support and defend the U.S. Constitution. By forcing a default on the debts of the United States of America, Congress is in clear violation of Section 8, #'s 1,2,3,& 5. It would be great if the media would pick this information up and press Congress about these parts of the Constitution.
So what happens if a Congress person violates their oath of office? Does anyone know?
As I see it, there are really only two options, with several sub-options, that would resolve this issue and I am sure that they (Congress) already know this but are trying to gain political points on this issue.
Option #1: Do not raise the debt ceiling
Sub-Option #1: Increase taxes without spending cuts; increases would need to be intensive to bring down the debt before it hits the ceiling.
Sub-Option #2: Increase taxes with spending cuts; increases income, decreases spending.
Option #2: Raise the debt ceiling
Sub-Option #1: major spending cuts to keep the debt from getting too high too quickly
Sub-Option #2: Increase Taxes with some spending cuts, in hopes that the deficit will go down
Sub-Option #3: Increase Taxes with major spending cuts; deficit drops faster
Sub-Option #4: Increase Taxes with no spending cuts; nothing may change
The object is, that we can not keep going like we currently are. Taxes do need to be raised in order to pay the debit of the United States Government, which everyone benefits from in one way or another. Spending also needs to increase to provide jobs and money for those that are currently out of work. Increased income results in increased tax revenue and increased spending by individuals provides capital for companies to hire and expand. It is the age old issue of you have to spend money to make money, and with the amount of government jobs that could be available again, the economy would again prosper and America would be able to come out of its problems more quickly.
That brings me back to my question earlier: Are Congress members violating their oath of office by threatening to allow the federal government to default on its obligations?
