Is the Suspended Debt Ceiling Bill a Temporary Fix for a Permanent Problem

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The recent suspension of the debt ceiling by Congress until December 2022 has brought some relief to the potential financial turmoil the US government could have faced. However, the question remains: is this just a temporary fix for a long-term problem?

From another angle, the suspension of the debt ceiling can provide room for the government to maneuver and manage deficits while focusing on long-term solutions. This can lead to an economic boost and job creation. Additionally, President Biden’s investments in infrastructure have the potential to further stimulate the economy and create new opportunities for Americans.

Notwithstanding, suspending the debt ceiling is just a band-aid solution that ignores the underlying issues creating the debt. While the COVID-19 pandemic has played a significant role in mounting debt, long-term policies and spending commitments need to be addressed. Without the proper measures in place, there is a chance the US could experience another financial crisis like 2008.

It is important to recognize that both President Biden’s accomplishments and the suspension of the debt ceiling are not a panacea for the nation’s long-standing financial issues. There are still long-term challenges to be addressed, such as the healthcare system, immigration policy, and income inequality.

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Final thought, while the suspension of the debt ceiling may provide temporary relief and allow for more time to address the country’s financial issues, it does not address the root cause of the problem. The United States must take bold steps to implement fiscally responsible policies to work towards a long-term solution. Moreover, President Biden and Congress can take steps towards addressing the underlying issues and invest in policies that help American families, which can lead to long-term growth and stability for the US economy.

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William Macbee: As a business reporter, I thrive on dissecting complex financial matters, including their political implications. My articles explore how economic policies and political decisions shape the business landscape.