In the mundane course of daily life, there are things one needs to do that aren’t fun. Such as taking out the garbage, doing the dishes or writing the checks to pay the monthly bills. But it’s a sign of an unhealthy household when there isn’t a responsible adult around to make sure those tasks are done.
Raising the federal debt ceiling is one of those mundane and unpleasant tasks for the federal government, and it’s striking that so many adults in Congress were not only willing to avoid their responsibilities, they seemed willing to burn the house down if they didn’t get their way.
We are grateful there is a compromise, even if it’s a clunky set of proposed and potential budget cuts and future “super committees” on the federal deficit.
But ultimately there had to be a compromise, else the government of the United States faced default on its financial obligations.
Those who drove us to the precipice are calling it a victory over federal spending. We would love to see a balanced federal budget as much as anybody, but the way this was done was sickening. The nation’s financial integrity was put at risk as a political tool, because the new Republican majority refused to accept that they can’t run the entire government just because they won the House in 2010.
We agree with U.S. Sen. Mary Landrieu, D-La., that the compromise was necessary, but the crisis that prompted it was not. This was “an unnecessary and destructive hostage standoff that has caused even more uncertainty for an already fragile economy,” Landrieu said. She is right.
The nation didn’t need this. Thank goodness it’s over.