Steven Holt: “The default debate is, at its heart, a debate between two visions for America. One side envisions rebuilding our…”

“The default debate is, at its heart, a debate between two visions for America. One side envisions rebuilding our country, investing in jobs and education and infrastructure, and rising from the Great Recession as a stronger and more resilient Nation. The other side accepts a pessimistic vision of a weakened America with a shrunken government--a Nation hampered by deep cuts to the safety net and hobbled by a refusal to invest in our future. I have no doubt that, in a fair debate, a hopeful vision for America would win out. But the default debate has not been held on fair terms. The Tea Party and their enablers have held America hostage. They have insisted that, unless Congress enacted their radical, ideological agenda, they would force an unprecedented default on America's obligations and thus trigger an economic collapse. From the beginning of this debate, I rejected the notion that America's creditworthiness should be used as a bargaining chip. Yet I was willing to support a balanced, fair deal if that was what was required to prevent a default. Unfortunately, today's deal is not balanced. It is not fair. Most of all, it is not right. The House has voted for vast cuts in government services that ordinary Americans depend on: student loans, unemployment insurance, food safety inspections, highway safety programs, and more. These cuts will force layoffs among teachers, public safety officers, construction workers, and more.…”