Yesterday, the United States hit the debt ceiling. The U.S. Treasury Department responded quickly, taking steps to avoid a default and buy Congress time to act. The debate surrounding it will likely continue into the summer.
Threatening our nation’s credit to extract policy concessions is an irresponsible political gambit with far-reaching consequences.
Raising the nation’s borrowing authority used to be a routine exercise, but like many things, it has become a point of partisan division. In the narrowly divided House, some Republicans are trying to use the debt ceiling fight to leverage spending cuts.
To be clear: raising the debt limit does not increase spending. Instead, it allows the Treasury to borrow funds to pay for expenses and tax cuts that Congress and the administration have already approved.
Threatening our nation’s credit to extract policy concessions is an irresponsible political gambit with far-reaching consequences. If lawmakers are genuinely concerned about reining in federal spending, there are better places to put energy than the debt ceiling debate. Instead, they might look to the Pentagon.
Congress continues to funnel money into military spending at unprecedented levels—authorizing a record $858 billion in last year’s defense policy bill. That’s more money than President Joe Biden asked for or the House and Senate Armed Service Committees recommended. The money was granted despite the Pentagon having failed five consecutive audits.
If lawmakers are genuinely concerned about reining in federal spending, there are better places to put energy than the debt ceiling debate. Instead, they might look to the Pentagon.
“In a time of such immense human suffering, it is unconscionable that Congress would opt for even more unchecked Pentagon spending,” Bridget Moix said at the time. “If the trillions of dollars we have poured into ever-escalating military might had been invested instead in building peace and meeting human needs, our world would be much safer. It’s time for a serious pivot.”
The debt ceiling will continue to dominate the media and political discourse for some time. While it does, we’ll be working to meaningfully shift federal spending priorities to save lives, prevent suffering, and save U.S. taxpayer dollars by investing in peacebuilding. Don’t let the discourse make you feel discouraged. Join us in pushing for the types of spending changes that can make the world better. Sign up to start or join an FCNL Advocacy Team.
