The United States avoided a doomsday scenario for the economy this week, when both chambers of Congress approved a deal to prevent a default on the country’s debts in exchange for future spending cuts. Iowa’s entire Congressional delegation supported the legislation, marking the first time in decades that every member of the U.S. House and Senate from this state had voted to raise or suspend the debt ceiling.

The vote was also noteworthy for Senators Chuck Grassley and Joni Ernst, who were part of the 63-36 majority that sent the bill to President Joe Biden. Bleeding Heartland’s review of 45 years of Congressional records showed Grassley had backed a debt ceiling bill under a Democratic president only once, and Ernst had never done so.

Bruce Lear lives in Sioux City and has been connected to Iowa’s public schools for 38 years. He taught for eleven years and represented educators as an Iowa State Education Association regional director for 27 years until retiring.

Where I grew up there were multiple sources of news. To hear the news, men gathered at the post office and Standard station, while women preferred the Clover Farm Store or Rebekah Lodge. 

It wasn’t broadcast news. It was secret, local news that an impolite observer might call gossip.

There was typical gossip including who bought a new combine, whose car was parked too long at the lower tavern, and who had the worst dye job in town. 

But there were special categories delivered only in whispers. Things like a cancer diagnosis, a church lady with a fresh shiner, or a recent bankruptcy. These whispers were met with silence, and the few Catholics crossing themselves.

Al Charlson is a North Central Iowa farm kid, lifelong Iowan, and retired bank trust officer.

Financial panics are not rational. The federal debt ceiling is an arbitrary artificial limit. The U.S. economy would not fundamentally change on the day the Treasury could not send Social Security checks or military payroll because it was barred from borrowing to pay the bills Congress has already approved. But world financial markets would freak out.

The international financial market system is an extremely complex and intricate web of interrelated understandings, agreements, contracts, checks and balances, guarantees, regulations and laws. The system is normally resilient and redundant enough to handle losses which regularly can and do occur. For many decades, the U.S. dollar has been the linchpin of the system, and U.S. Treasury notes and bonds have been considered the basic risk-free asset class. Essentially, the full faith and credit of the U.S. Government has been and remains the cornerstone of the worldwide financial system.

All four Iowans in the U.S. House voted on April 26 for a plan to raise the debt ceiling by $1.5 trillion for the coming year, in exchange for “aggressive caps on federal spending” over the next decade.

The House approved the Limit, Save, Grow Act of 2023 by 217 votes to 215, meaning House Speaker Kevin McCarthy had no votes to spare.

The speaker secured passage of his bill by making concessions on biofuels subsidies on the eve of the vote. McCarthy had previously indicated he was not open to altering the bill, but a group of Republicans from the Midwest—including Iowa’s Representatives Mariannette Miller-Meeks (IA-01), Ashley Hinson (IA-02), Zach Nunn (IA-03), and Randy Feenstra (IA-04)—insisted on changes.

Kay Pence is vice president of the Iowa Alliance for Retired Americans.

Refusing to raise the debt ceiling is like running up your credit card and punishing yourself by refusing to pay the bill.  It ruins your credit score and costs more in the long run. Raising the debt ceiling does not authorize new spending, it authorizes borrowing to pay bills already incurred. Paying bills are obligations not negotiations.

MAGA Republicans want to use the debt ceiling fight to force cuts in future unnamed programs. What they want to cut isn’t exactly secret; we have seen and rejected, most of their proposals before.

Kay Pence highlights Senator Grassley’s double standards on the federal deficit, depending on which party controls the presidency.

I was 4 years old when Senator Grassley first entered elected office. I grew up, got married, raised a family, went to college, had a career and now I’m retired. Who knows, I may have even voted for Senator Grassley at one time. A lot has changed in the last 62 years though: namely, Chuck Grassley. 

Normally I would support a healthy senior continuing to work as long as they want. However, I’ve always believed we send Representatives to Congress to represent our interests. The Alliance for Retired Americans has been tracking Representatives’ voting records since it was formed in 2001 and Senator Grassley has only voted correctly on senior issues 11 percent of the time.