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Joining the #FaithfulFilibuster from Des Moines

Photo courtesy Sarah Trone Garriot.
An Ecumenical group of pastors and lay leaders in the greater Des Moines area. Photo courtesy Sarah Trone Garriot.

People around the country have taken notice of the #FaithfulFilibuster and want to lend their voices. From Pastor Sarah Trone Garriot in Des Moines, Iowa: "Since we couldn't be in Washington to join you, a few of us pastors got together and visited our Iowa Representative's office." 

After reading through select Bible verses, the group read the following statement: 

To the Honorable Representative Tom Latham:

We believe that the recent government shutdown is not just a failure of the process of governance.  This shutdown is born of the failure to follow Jesus’ commandment to “love our neighbor.” (Luke 10:25-37)  

We have witnessed hard hearts as our elected representatives squander their time and energy to attack one another and create failure.

We have witnessed our elected representatives acting without mercy when it comes the poor, the vulnerable, the sick, and the stranger.

As Americans, we are at our best when we come together to work for the common good.  This shutdown, and the divisive behavior that gave birth to it, is an insult to our nation.  We can do better.

[contined at the jump]

Debt Ceiling 101: Boundaries and Original Sin

Debt crisis illustration, mikeledray / Shutterstock.com
Debt crisis illustration, mikeledray / Shutterstock.com

The world as we know it may end on Oct. 17.

This statement seems hyperbolic. It sounds like another absurd prediction of the end times that garners far too much attention from the media. But this isn’t about the fulfillment of biblical prophecy. Unless the Congress raises the debt ceiling, Oct.17 is the date that the United States government runs out of money to pay its bills.

The consequences could be catastrophic.

Defaulting on our financial obligations would shatter the global confidence in the U.S. dollar that has made it the worldwide reserve currency. U.S. Treasury bonds would no longer be perceived as safe investments, which means creditors would demand higher interest rates to purchase the bonds because of the increased investment risk. The rise in interest rates would make U.S. debt more expensive to finance, leading to more government spending and slower economic growth. The U.S. Treasury believes a default could cause another recession far worse than what we experienced in 2008.

Of course, this pending crisis is completely manufactured and entirely avoidable.

Why the Debt Ceiling Matters

AS FIGHTS ABOUT the budget and other economic issues are again riveting the nation’s capital, the rest of the country yawns. Possible government shutdowns, threats to default on our nation’s debt, and proposals to decimate food assistance for struggling Americans seem to be business as usual in Washington, D.C. These budget battles have become so frequent that it is tempting to dismiss it all as political posturing. But that would be a mistake.

The biggest challenge facing Congress should be a non-issue. The debt ceiling is simply the amount of debt the U.S. is legally allowed to hold. It is about paying off the bills that Congress has already incurred from past appropriations—not about giving permission for new government spending, as many people falsely assume. Congress has raised it nearly 100 times since the end of World War II, but it only recently became a political football. Because the consequences of not raising the debt ceiling and defaulting on our nation’s obligations could be catastrophic, some leaders have tried to leverage it for political gain. After the country came close enough to a default in 2011 to receive a credit downgrade, President Obama has responsibly refused to negotiate over raising it. His assumption is that GOP leaders in Congress wouldn’t throw the economy off the cliff for their own political gain. The American people are left watching this game of chicken and hoping somebody blinks.

While this is clearly a partisan game, the stakes couldn’t be higher. The U.S. has always honored its debts. Should the country default, the market turmoil and long-term effects could be catastrophic for the global economy. Domestically, it could throw the U.S. back into recession.

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