One Man’s Opinion

Continued from page 8 leaders and the White House back to the table in early 2024.

When we hit the current ceiling, federal bonds and debt will be paid first. Federal government employees, including our military, will be paid later, and many in non-essential positions will be furloughed. This has happened several times previously: U.S. Parks close, bureaucracies grind to a halt, standstill, or significant slowdown...all of which are avoidable.

Besides its resilient and seemingly ever-growing economy, one of America’s greatest strengths is our ability to honor our debts and most obligations and generally follow through on foreign policy commitments. As we have wavered in those latter categories in recent years, doubt is also rising about the former. And as we saw with the quaking vibrations caused by real runs on two U.S. banks across our entire financial services sector, the reality is often only as strong as the trust and belief in that reality. Global doubt about the staying power and guaranteed value of our U.S. dollar may significantly impact our status as holders of the global reserve currency of choice.

Neither budget cuts nor comprise are wrong or inherently evil. To get us across the finish line this time, both are likely and SHOULD BE required. Just as our founders/framers intended.

Bill Crane owns the full-service communications firm CSI Crane. More information at www.CSICrane.com

** Note: the article was written before the debt ceiling agreement occurred.

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Continued from page 18

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