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Read key excerpts from the editorial below:
Washington Post: The nation faces financial calamity. Republicans will be to blame.
Editorial Board
September 25, 2021
The White House on Thursday instructed federal agencies to prepare for an imminent government shutdown, in case Congress fails to pass a stopgap funding bill by Sept. 30. Government shutdowns are expensive and disruptive, and they deservedly sully the nation’s image and sense of self-respect. But at this point a lapse in government services should be the least of Americans’ worries. The nation faces an epochal financial disaster if Congress fails to raise the debt limit, forcing the country to default on its obligations and inviting a global financial panic.
If that happens, there will be no doubt about who is at fault: Senate Minority Leader Mitch McConnell (R-Ky.) and his Republican caucus, who are playing games with the full faith and credit of the United States.
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Other than sticking it to Democrats, what is the point?
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National default should be unthinkable, and the need to avoid default should not be viewed as a political opportunity. Even if Democrats manage to force through a debt limit hike this time, Mr. McConnell’s out-of-nowhere standard placing all the responsibility on the majority party will make it much harder to lift the debt ceiling going forward, and correspondingly more likely that the nation will one day walk off the cliff even if it manages to step back now.
Time’s up. It’s hard to see how anyone professing patriotism could willfully risk inflicting this kind of harm on the nation. Republicans with any sense of responsibility should band together and help pass a clean debt limit increase.
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