This has become a regular event. Every summer we hear about the threat of the Federal government shutting down and every summer somehow they avoid a crash. But this summer seems different. The economy has been spiraling down for over a year. Unemployment is way up nationally and the Federal Reserve is actively preparing for the possibility of a United States default on our country’s debt. The Aug. 2 deadline for our debt coming due will be here next week and our governing leaders need to do something fast or our whole financial system will crash. There is $14.3 trillion in borrowing money that has accrued.

This is a serious plight. If the federal government defaults on their loan obligations then our dollar is worthless. There are some contingency plans being discussed this week in hopes of avoiding a default but its politics as usual and these plans just might make it worse for the American people.

The first idea was to raise the debt ceiling. Meaning our borrowing limit would be raised so we will appear to have more incoming income to borrow. Apparently the Treasury Department is quoted as saying that “a default was unthinkable and that there is no alternative to raising the debt ceiling.” Anyone with a budget knows that if the debt ceiling is raised, we get deeper and deeper into debt and although that might be a quick fix for today, in the long run, it will be much worse for tomorrow.

Another aspect of the contingency plan is developing for a procedure of how the Treasury Department will cash certain checks. There are social security recipients and other government workers who receive monthly income to live. Answering questions about how the Federal government is going to decide which checks are good and which checks are not will be tricky.

Another contingency plan posted was to create a “new” Congress. This group would be composed of six members from both the House and the Senate and include both parties and they will be granted extraordinary powers. Meaning this group of members would have the power to lift the debt ceiling very quickly without the vote of the regular Congress. As those who study the U.S. Constitution know there isn’t any mention of this kind of power anywhere. This is a very scary idea as this “Super Congress” as it is called will have the power to pass any law through and they would be less accountable than what our Congress is today. It would no longer be a government run by the people but a small group of very powerful leaders with no accountability.

This is not what we want as a people. This would not help the financial situation at all, but give a small group of people power to do as they please. This is not what was intended to happen to our Constitution no matter what the emergency. Our government should be fiscally responsible just as we are required in our own budgets. As the days come down to the wire, our federal leaders should present a plan to avoid a financial crash without losing our freedoms. Let’s hope this is the case on Aug. 3.

Loxley resident Valerie J. Steimle is now the author of four books. Her latest, “Dogs, Blogs and Hobbits: Writings from a Widow’s Perspective” is available on Amazon.com. Contact her at valeriesteimle@yahoo.com, visit her website at www.stregthenyourhome.com or check out her blog at www.valeriesteimle.blogspot.com.