The debt ceiling is set to hit sooner than expected, and it isn't clear if Congress can come together and avoid a default.
According to The Hill, the Treasury may not be able to keep the country from going over its borrowing limit past mid-September, a shorter timeline than the previous estimate of mid-October or November.
If Congress doesn't raise the debt limit by the end of August, they'll only have a few days to cobble together a deal when they return from recess in September.
House Speaker Nancy Pelosi believes lawmakers can reach an agreement, but her statements to the media don't scream "bi-partisanship."
“We’ll see how those conversations go. We certainly do not want any default on the part of the full faith and credit of the United States of America,” she said. “That’s never been what we’ve been about, but there are those on the Republican side who have embraced that again and again. So, we’ll see.”
Senate Majority Leader Mitch McConnell assured citizens that he doesn’t “think there’s any chance that we’ll allow the country to default," but wouldn't say whether lawmakers would reach a deal before the August recess.
Right now, the Treasury Department is taking steps known as “extraordinary measures” to prevent the government from going over its borrowing limit. But if Congress can't work together to raise the ceiling before September, it would be a "catastrophic move that could roil worldwide financial markets," according to The Hill.
We shouldn't even be in this position, of course. First, Congress shouldn't be so irresponsible with taxpayer money that our country teeters on the brink of financial collapse every few years.
But our "leaders" in D.C. refuse to reduce the $1 trillion deficit or take steps to lower the $22 trillion national debt. Like an irresponsible teenager, our country is living beyond its means on the credit of other people. In the teenager's case, that "other person" is their parents; in Congress's case, it's the American taxpayer.
Furthermore, if our country is about to default on our debt, why is Congress even considering taking an August recess? Why would they risk throwing the markets into turmoil by leaving the debt ceiling issue until the last minute?
The answer to these questions is the same as the answer to the question, "Why do we have a $22 trillion national debt?" Congress is irresponsible and incompetent, and they care more about reelection than doing what's best for the future of our nation.
Americans understand this, which is why millions of patriots have joined the Convention of States movement in their states. An Article V Convention of States is called and controlled by the states, not Congress, and has the power to propose constitutional amendments.
These amendments can impose fiscally responsible mandates on Congress, mandates that force our elected representatives to balance the budget, decrease spending, and cap taxation. With these and other policies in place, Congress won't need to raise the debt ceiling because the debt will shrink every year. Our country will escape the annual edge of financial collapse, and secure its place as the world's leading economy.
Our elected representatives are risking what previous generations have fought and worked for, and they're risking the future prosperity of our children and grandchildren. The teenagers in Congress have been in control long enough. It's time for the adults to cut up the credit card, take control, and call a Convention of States.
Sign the Petition below to tell your state legislators you support the Article V movement and the Convention of States Project!
