The Biden Administration’s Lack of Urgency



President Joe Biden takes questions after delivering remarks on the debt ceiling during an event in the State Dining Room of the White House, Monday, Oct. 4, 2021, in Washington. (AP Photo/Evan Vucci)

Lea Flavier

From the many social calamities at large that our country faces today, from war to gun control to identity politics, the nation falling deeper in debt continues to be the least of the government and the citizens of America’s concerns. The lack of urgency in this situation would soon prove to be detrimental to the health of the economy. Soaring inflation rates, a crash in the stock market and the weakening of the dollar among other currencies are only a few of what may come when the American debt remains unaddressed.

The energy of the great divide in congress concerning the fiscal dilemma is matched even outside the courtroom. According to a recent Economist Yougov survey, only a mere 37 percent of Americans believe that failing to raise the debt ceiling and affirming a default would result in an economic crisis. Only 40 percent believe that it would create big problems in the near future but not necessarily a crisis. The lack of knowledge provided about the federal debt to the common American contributes to the government’s slow response with the problem. People remain uninformed regarding the link between the debt ceiling and the debt default. The debt ceiling is the maximum amount of money the government can borrow to pay bills. These funds may go directly or indirectly to employees, Social Security, the military, Medicare and other obligations. The cap sits at 31 trillion and was breached this January, resulting in the debate of raising the debt ceiling or letting it go default. A default would create a major economic recession, as well as undo the Biden administration’s accomplishments during his term such as the creation of 12.6 million jobs, a low unemployment rate and stark consumerism. 

The day wherein the government commits to resigning to their obligations regarding the debt inches closer, and yet, president Joe Biden continues to show no signs of panic, nor  does he urge congress to hasten on their decision-making. Although it is disastrous in most situations to show panic in a time of looming distress, it would benefit the entire nation most to put pressure on the Biden administration. A presidential influence is a dire need, as compared to former president Obama’s last minute speech about the debt ceiling in 2011 that was followed by a compromise between the president and Republicans just three days later. However, the current administration continues to play a game of Russian Roulette with the economy and the most to suffer will be the voting, tax-paying Americans.