On September 22, 2021, Representative Bonnie Watson Coleman voted in favor of increasing the debt ceiling, a move that will allow the United States government to continue paying its bills and avoid defaulting on its obligations. However, Watson Coleman also urged her colleagues to eliminate the outdated process of raising the debt ceiling altogether.
The debt ceiling is a limit on the amount of money that the federal government can borrow to fund its operations. When the government reaches this limit, Congress must vote to increase it in order to avoid defaulting on its debts. This process has become increasingly contentious in recent years, with some lawmakers using it as a political bargaining chip to push for other policy goals.
Watson Coleman, who represents New Jersey’s 12th congressional district, has been a vocal critic of the debt ceiling process. In a statement released after the vote, she said, “It’s time for us to stop playing games with our nation’s finances and eliminate this outdated and harmful process once and for all.”
Watson Coleman argued that the debt ceiling is an unnecessary constraint on the government’s ability to manage its finances. She pointed out that the United States is the only country in the world that has a debt ceiling, and that it has been raised over 100 times since it was first introduced in 1917.
Furthermore, Watson Coleman noted that failing to raise the debt ceiling could have catastrophic consequences for the economy. If the government were to default on its debts, it could trigger a financial crisis that would send shockwaves through global markets.
Despite these risks, some lawmakers have continued to use the debt ceiling as a political tool. In recent years, Republicans have threatened to block increases in the debt ceiling unless Democrats agree to spending cuts or other policy changes.
Watson Coleman called on her colleagues to put aside partisan politics and work together to eliminate the debt ceiling once and for all. “We need to focus on finding real solutions to the challenges facing our country, not on playing political games with our economy,” she said.
In the meantime, however, Watson Coleman recognized the importance of raising the debt ceiling to avoid a default. “While I believe we need to eliminate the debt ceiling altogether, I voted to increase it today because failing to do so would have had disastrous consequences for our economy and our country,” she said.
The vote to increase the debt ceiling passed the House of Representatives by a vote of 219-206, with all Democrats and just two Republicans voting in favor. The bill now heads to the Senate, where it is expected to face opposition from Republicans who are still pushing for spending cuts and other policy changes.
