When Fitch downgraded the U.S. bond rating earlier this year, House Republicans celebrated their vindication of calling for fiscal responsibility. However, they conveniently overlooked their own role in the nation’s financial crises, specifically their reckless tactics and brinkmanship.
Fitch mentioned this when referencing the erosion of governance and repeated debt limit standoffs caused by cynical political strategies. Some candid Republicans have admitted to intentionally breaking the government so they can campaign on a platform of fixing it.
Now, once again, House Republicans are threatening a federal government shutdown unless they get their way on deep spending cuts and action on the southern border. However, just three months ago, both the House and Senate agreed to suspend the debt ceiling and implement spending limits with the Fiscal Responsibility Act of 2023. But for some, compromise means nothing.
There is a solution, but it requires House Speaker Kevin McCarthy, GOP Conference Leader Elise Stefanik, and others to prioritize the country over their own political futures.
America does have high levels of spending and debt. In the 2022-23 fiscal year, spending reached $6.27 trillion, and the publicly held debt stands at $26 trillion. This is the result of deficit budgeting under both Democratic and Republican leadership. Debt payments alone consume around half a trillion dollars per year. However, just as growing the debt was a bipartisan effort, bringing it under control must also be a bipartisan endeavor.
Unfortunately, a faction of Republican House members, including former President Donald J. Trump, who oversaw a $6.7 trillion increase in the national debt, does not see it this way.
With a slim majority in the House, McCarthy can only afford to lose four votes on his side and still pass legislation without Democrats.
There is an alternative: Ignore the chaos caucus and negotiate a bipartisan deal with Democrats, as the Senate did to keep the government open while discussions continue on formal spending bills.
Unfortunately, “compromise” is seen as a dirty word by the MAGA right, a movement driven by conspiracy theories and simplistic solutions. This includes proposals like Vivek Ramaswamy’s idea of firing 75 percent of the federal workforce, which would have severe consequences for essential programs and employment.
So, Mr. McCarthy, what will you choose? Will you give in to the hostage takers who are willing to blow everything up, or will you reach across the aisle and potentially sacrifice your prestigious title to prevent a shutdown that would harm federal workers and millions of Americans?
The decision is only difficult if you do not understand the meaning of “doing the right thing for the country.”
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