Government Default Imminent

January 19, 2023.  D Day! On that day, according to the Treasury Secretary, the United States will reach the debt ceiling limit. Thirty one point four Trillion dollars! That is as far as they can go! By law, the country cannot go any deeper into debt. Unless, of course, the debt ceiling is raised, as President Joe Biden, a Democrat, has in mind. This is generally a mere formality, as it has been raised numerous times in the past. Yet this year is different.

The problem is that the debt ceiling can only be raised by the House of Representatives, which is commonly referred to as the Congress. The Democrats have just lost control of the House, to the Republican Party, also known as the GOP, the Grand Old Party. 

The GOP may be divided on a great many issues, but they are united in their opposition to an increase in the debt ceiling. 

The Speaker of the House is now Kevin McCarthy, a Republican, who managed to secure that position, but only on the fifteenth ballot! The Congress has not been this deeply divided since the days of the Civil War! Not a coincidence!

In order to secure sufficient votes to become Speaker, McCarthy had to make certain concessions, ‘’behind closed doors’’, to ‘’Right Wing’’ members of his Party, according to the journalists. Even the other Republican Members of Congress are not aware of these ‘’secret agreements’’!

The journalists are reporting that the ‘’rank and file’’ GOP Members are furious! They are convinced that McCarthy has agreed to ‘’multiple backroom concessions’’ in order to secure the Office of Speaker of the House. 

Their bitterness is understandable! The Members who were the most loyal, devoted and reliable, those who have consistently voted along Party lines, have received no reward! The ‘’vocal minority’’, those who were labelled as ‘’trouble makers’’, have won! They are in their glory! They have been promised ‘’Lord knows what’’! McCarthy is not saying! Truly, the ‘’squeaky wheel gets the grease’’! 

The rank and file GOP Members are venting their frustrations to the journalists. They are referring to this as a ‘’conspiracy of silence’’. They are claiming that McCarthy just ‘’destroyed the Republican Party, as well as the House’’. In order to secure his position as Speaker, he ‘’systematically destroyed the norms and institutions of democracy’’. They are referring to this as an ‘’Insurrection by other means’’. 

Without doubt, such wild talk has never been heard before, in the House! At least not in recent memory! McCarthy is even being accused of ‘’institutionalizing the chaos’’, of ‘’attacking the functioning of government’’!

As a result of this, the journalists are speculating that a ‘’government shutdown’’, and even a ‘’default on the national debt’’, is ‘’more likely, if not probable’’. They are blaming this on McCarthy, for ‘’sacrificing the Congress’’. As they put it, the ‘’saboteurs have won’’. 

This is not to say that the government will shut down on January 19. Indeed not! The plan, of the Treasury Secretary, is to ‘’resort to extraordinary measures’’. Apparently this is a reference to ‘’creative bookkeeping’’, otherwise known as ‘’robbing Peter to pay Paul’’.

In a ‘’worst case scenario’’, she expects the government to default on the national debt by early June. Yet she still has a clear set of priorities. In such a case, she maintains that it is essential to first ‘’make the interest payments on the national debt’’. After that, the remaining tax revenue can go towards the ‘’military, Social Security, Medicare and Veterans Benefits’’.

First and foremost, the interest payments! Make sure that those who own the banks, get paid first! The owners of these banks are composed of a class of people, referred to as the monopoly capitalists, the billionaires, technically referred to as the bourgeoisie! 

The Treasury Secretary is a loyal and devoted servant of the capitalists! Let the hungry stay hungry! Let the homeless stay homeless! The gang violence is not her concern! Drug overdoses are not her concern! Let the infrastructure of the country fall apart! The banks must be paid!

The point of all this is to drive home the point that the ‘’class struggle’’’ has assumed a ‘’violent, glaring character’’, so that we are close to the ‘’decisive hour’’. In other words, Socialist Revolution, and the Dictatorship of the Proletariat, is ‘’right around the corner’’!

Yet this will not happen by itself! At the time of the Great Russian October Revolution of 1917, there existed in Russia a proper Communist Party, one which called for the Dictatorship of the Proletariat. That base was covered! It was the Communist Party which provided the proper leadership. Yet that was not enough.

As Lenin stated, in reference to the Great Russian October Revolution of 1917, that ‘’success depended entirely upon the existence of available organizational forms of a movement embracing millions’’.

Those ‘’organizational forms’’, appeared in the form of Soviets, or Councils, in English. At the time of the October Socialist Revolution, the existing state apparatus, of the capitalists, was promptly destroyed, and replaced by the Soviets.

Incidentally, as I have no way of knowing which word will become common place, I have chosen to use the word Soviet, at least for the purposes of this article.

This is to drive home the point that the Soviets are critically important. After the Revolution, they will be placed in key positions of authority. They will be part of the Dictatorship of the Proletariat.The current leaders of the existing Soviets are well advised to bear that in mind. To such people, I have a bit of advice: Be Prepared!

The Revolution will happen, when it happens! No one knows the spark that will set the country ablaze! We just know that the country is a ‘’powder keg’’! We also know that the Revolution is raging around the world! It is urgent that the leaders of these Soviets prepare for the Revolution! Train your people to take part in the Insurrection! Raise their level of awareness! Transform them into class conscious Communists! Encourage them to read the Revolutionary works of Marx and Lenin! Stress the importance of the Dictatorship of the Proletariat! Use the events in Washington to drive home, to all working people, the necessity of Revolution! 

At the same time, get in touch with the leaders of other Soviets. Coordinate your actions! Create a true Communist Party, Dictatorship of the Proletariat! The need for this is urgent! Working people need leaders!

Also, get in touch with Soviets in other countries. Use the Internet! Remain anonymous, but vocal! Expect the capitalists to make every effort to crush the Revolution! Watch your back! Arresting the leaders is a time honoured tradition! Do not make it easy for the capitalists!

Bear in mind that not all Revolutions give rise to Soviets, in all countries. Certain countries may give birth to a new type of power, ‘’proletarian power’’, according to Lenin. Whatever works! The important thing is that these ‘’organizational forms’’, are to be used in the forthcoming Revolution, and the subsequent Dictatorship of the Proletariat. As the Socialist Revolution is raging around the world, it will soon give rise to that which Lenin foresaw:

A World Socialist Republic!

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