The Debt Ceiling Debate
Fringe groups on each side of the political spectrum, but especially The Tea Party, are holding America hostage, while sensible voices who understand the importance of America’s perfect sovereign debt rating desperately seek to restore common sense.It is my view that at this late date, the debt ceiling had better be raised to avoid near-term default, and that active efforts continue to establish adequate budget measures to restrain the now interested Standard & Poor’s and Moody’s (NYSE: MHP, NYSE: MCO). By the way, it really bugs me that now that this issue is on the tongue of every American, the agencies suddenly determined America’s debt position was of great short short-term importance and warn of ratings change even with a new ceiling. The levity of such a change is not well understood, especially by the agencies who horrifically rated Mortgage-Backed Securities ignorant of the potential for home price decline, driving a booming MBS market and playing key role in creating the financial crisis.
I want to know your opinion on this highly important debt ceiling issue and balanced budget measures. Please feel free to range widely across these topics. With a week to go before America defaults and life as we know it perhaps expedites its transformation into something far less appealing, tell us where you stand on:
The Debt Ceiling Debate
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Labels: Budget, Debate Topics, Politics, Topic-of-Debate
posted by The Greek | 12:50 PM
5 Comments:
This is high drama politcs, fueled by a recalcitrant Tea Party segement of the GOP. They seem unable to recognize that if default occurs, raising US interest borrowing rate by as little as 1%, that a trillion dollars will be added to the national debt fairly quickly. My view is that it's all just a silly game.
The debt ceiling is BS. The real issue is PARTISANSHIP! Politicians say anything they like as their uneducated (manipulated)constituents will believe the BS they throw at them.
There is clearly a racial bias against President Obama from conservatives who cannot accept he is as American as they are. This country is 100% immigrants minus the few American indians that are left. Forutnately some of them were smart enough to trade wampum for casinos.
The US Government is the problem and they should all be thrown out on their asses since they are not willing to get the peoples work done.
The US has now moved into perpetual campaigning and that is just more than I can bear. Pure partiship 100% of the time.
Most large US corporations have adjusted to the changes in the economy, and refuse to bring back the massive cash hordes thay sit on in foreign currencies.
American labor is screwed and jobs will never come back.
The military should have never been converted in a 'volunteer service' as this is a ticket toward fascism. All should serve.
Bush's policies were a flagrant
use of this reality for his own perverse purposes (and Cheneys).
These fundamental failures are
as insidious as it gets Both Republicans and Democrats don't know what they are doing. They never have.
The Tea Party should try coffee.
I want them to stop spending my money recklessly.
I am glad someone is finally taking a stand and I hope that people start taking note of the enormous hole that we are in!
There is no such thing as the "Tea Party". Get real. These are every day Americans who are tired of government excessive spending and control of every facet of human life. Families have to stay within their income, and the gov't needs to do the same or we'll be like Greece--a great country that has lost its way in the morass of European socialism.
Let's face it, the Bush Administration ran up this debt, not Obama. While you might want to bring up healthcare (I'll rebutt our immense defense spending), the stimulus passed by the Obama Administration would also have been pushed by McCain. If, in fact, a Republican was in office, like for instance under Bush Sr., Bush Jr. and Reagan (and also under Clinton), we would not be sitting at hell's gate this evening. This legislation has always been passed independently of long term budget planning. There's a reason for that. What the problem is here is an irresponsible group of GOP members claiming fiscal religion after having raped us. If this ceiling is not lifted, you will all regret it, but it will be too late. I'm very sorry for you all, as poverty looms to consume this nation due to ignorance, foolishness and selfishness.
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