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Saturday, Oct. 22, 2016
The Defaulting of AmericaPosted Monday, July 25, 2011, at 7:36 PM
As both political parties in Washington continue to play politics with our money we continue to come closer and closer to our federal government defaulting.
The impasse is quite simple, but the solutions offered up actually have nothing at all to do with the problem. In order for the federal government not to default that need to raise the debt ceiling.
This has been done several times in the past, but to hear certain political leaders this is an unprecedented event. Since 1962 the ceiling has been raised 74 times. It has been done during both Democratic and Republican presidencies, often without any negotiating having to be done.
So,why now? Why are negotiations needed this time? Simple, political posturing by both parties. The Democrats want the tax cuts for the rich rescinded, Republicans want so-called safety nets cut. In reality, President Obama could circumnavigate Congress and raise the debt ceiling by invoking the 14th Amendment.
There was a ground swell by Republicans before the 2010 mid term elections and before the majority came in starting in January that the Democrats could have done something about the debt ceiling long before this. They are absolutely right. What they typically leave out of this argument is that something could have been done since that time to avoid what is going on now. But, like the Democrats before them nothing has been done and now the country is headed for default.
Personally, I believe the pandering that has been going on by both sides could result in political suicide. Senator McConnell just a few weeks ago stated that the Republicans goal was to keep Obama a one term president.
At this time our political parties have hijacked our economy solely in order to win elections instead of doing what's right for our country.
I have no doubt that some form of deal will be reached just in time to keep the government from defaulting that will please the right people in the politicians mind. It won't be a fair deal as far as the American people are concerned, but let us face reality, politicians stopped caring about what is right or fair for Americans a long time ago.
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