Rachel Maddow had a wonderful analogy on her program the
other day when she was talking about the looming crisis over the debt ceiling
and what ignoring it would mean for the country, our economy and the standing
of the United States in the rest of the world.
She talked about Captain Ahab chasing the White Whale. She said that there was a boat launched from
the Pequod with the Captain and members of his crew. They hit the whale with a harpoon that was
tethered to the boat by a rope. The
angered whale began to swim, towing the boat with it. If the whale sounded, meaning diving to the
bottom of the sea, the boat would go with it and they would all be
drowned. The captain had a hatchet on
board that could be used to cut the rope and free the boat from the whale; but
the rest of the crew protested when he wanted to use it and kept him from
cutting the rope. Maddow suggested that
this is what is going on with our congress and Speaker Boehner; that a small
group in congress, the most radical of the Tea Party members, is keeping the
speaker from finding a solution to the debt crisis. They are all willing to go
over the edge into whatever comes in the name of decreasing the government and
defunding the Affordable Care Act.
Her analogy
certainly makes a lot of sense to me, particularly since the “full faith and
credit” of the United States is being placed in jeopardy by this move by
congress to not pay the bills that they have incurred. We wonder what will happen if we indeed go
over the edge and the debt ceiling is ignored.
There is no doubt that a lot will happen. Interest rates will likely go up and middle
class people will find it more difficult to obtain loans for cars or
homes. Other nations will cease to look
to us for leadership and the dollar will cease to be the standard used by the
rest of the world. Much of this could be
devastating in terms of our standing among the nations of the world.
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