The Debt Ceiling, the Budget, and Another Fine Mess
60OK, I have had enough now. We are now just days from defaulting for the first time in the history of the United States and our senators and representatives are still playing politics. I am finally convinced that their DNA is wired to take advantage at all costs. Here we are facing a very serious problem with the clock running and what are they doing? They are creating competing plans and wasting everyone's time.
The Republicans have been highjacked by their right wing fringe. Even John McCain has told them that their demands on unrealistic, but still they'll drive the bus off the cliff rather than compromise. These freshman representatives do not seem to understand how a democracy works. Just because you were elected from a district that was so gerrymandered that it contains only single minded Tea Party types, it doesn't mean that you can dictate your ideology to the rest of the country. No progress in government is ever made without compromise, unless you are some kind of tin plated dictator.
If the trouble was just these young characters I could understand the problem, but it's not. They are the ones who are obvious with their moves. The veteran representatives and senators are the ones that have really disappointed me. If anyone really observes their attitude is it clear that all of their talk of compromise and working to get the best deal possible is just that, talk. We have an election coming up in 2012 and that is what these people have their eyes on. Neither party was willing to make a big deal that puts us on the road to resolving these problems and each has their own reasons why.
The Republics made a lot of mileage on their claims that the Democrats are spending us into disaster. They dearly want to continue to hammer the Democrats on that issue right through 2012. They can't very well do that if they agree on a major deal that will bring down spending. They will not be able to complain about a plan that contains their signatures. Also, any big deal made now would be considered a victory for the White House and they would rather us all go down in flames before they will let that happen.
The senate Democrats also have a hammer that they would like to pound the Republicans with in the election year. They dearly want to paint the Republicans as the hardhearted characters that will slash social security and medicare and leave our elderly dying in the streets. If they agree to a big deal that includes an restructuring of social security and medicare, their hammer will go out the window.
As a result, both parties have proposed little deals and temporary fixes that the Congressional Budget Office has labeled as inadequate or barely adequate. The only one who wants to make a big deal is the president. He wants to resolve this problem in a positive way and move on to the hundred or so other very important issues that have been sitting on the back burner while we dance around this issue.
If the embarrassing demonstration from Congress brings damage to our economy, the great injustice will be that President Obama will be blamed.
I am still confident that the nation will not default on its debt. I was convinced the minute that I heard Senator Mitch McConnell's plan to transfer the authority to raise the debt ceiling to the president. This plan will more than likely be what will happen. It is a classic weasel way out for Congress. They transfer authority and then put up a good show of whining and crying while the president raises the debt ceiling and then they can claim that is wasn't their fault that nothing was done.
Unfortunately, the damage may already be done. Standard and Poor's has already stated that just raising the ceiling may not be enough the head off a reduction of the countries credit rating. If that happens, it will hurt all of us. Thanks Congress for another fine mess.
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Great Hub Pete. The Tea Party wing of the GOP simply will not compromise at all even when they get most of what they want. This zealotry is taking our economy off a cliff and it scares me. I do not know how President Obama can be blamed when he is willing to give in on almost everything. Of course when everything implodes, he and all incumbents will go down. I think this is what the Tea Partiers want.
Or perhaps the 'party of no' has become infectious, and we now have three parties of no. On the other hand, since the blather about consequences seems more exaggeration than fact based, perhaps this is just another example of politics as usual. (that is, no change at all)
We will not default on our debt. We will not stop paying active military or veterans. We will not stop paying Social Security or Medicare. We take in more than we spend on these components of our welfare-warfare State, for now.
No one, not the Tea Party, not the President, not the Congress is actually discussing cutting spending; only reducing its rate of growth. No matter what we'll continue incurring ever higher debts, ever higher taxes, ever fewer freedoms.
Ultimately, it will be my generation and the ones that follow which will finally have to make tough choices and actually cut spending; when that day happens I pray we are wiser than those who have created this mess.
Unfortunately, we are headed for those draconian cuts. Dollar hegemony, the unsung hero of American history, is waning. Eventually, as our debts mount and resources dwindle investors will attempt to levy higher interest rates. The Federal Reserve will attempt to fill this void and maintain lower interest rates by creating money. This will accelerate the decline of the dollar and after the final ties to OPEC and China are severed...
God help us all.
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I think that if they can't get it together and accomplish the work that we elected them to do, then the politicians should be the first ones that do not get payed! How dare they say outloud that our military might not get payed.
The problem is not the Tea Party... the solution is the Tea Party.
If it weren't for the Tea Party, all these crooked polititians would not even be talking about making cuts. They would be doing business as usual behind closed doors.
The Tea Baggers are certainly the problem. They feel that the 2010 elections gave them super powers. They are misinformed and delusional. Cut spending..less government ha! When they voted for the Ryan take over of medicare, they increased the budget by billions and will grow the size of government. It will take a lot of resources to keep yokes on poor people.














FitnezzJim Level 7 Commenter 9 months ago
I don't think we default yet. If things for the country are anything like they would be for the average person, we simply go into a mode of paying high-priority debts first, while delaying the payments on the lower priority ones. If our country were like the average person, this would be accompanied by elimination of non-essentials and belt-tightening with respect to those things that are marginally essential. That approach assumes we each have areasonably mature sense of responsibility.
Unfortunately, much of our current generation is raised on a do-over philosophy. They have no fear of consequences if things are not done adequately well the first time around. They simply push the reset button, cry 'do-over', and maybe, hopefully, do better the next time around. In the mean-time our country suffers.
Perhaps we can provide consequences for the do-over philosophy.
Remember in November 2012.