DEBT CEILING TALKS.
Not a dancing matter.
Now, we all know that, if the debt ceiling is not raised in time to avoid default, the whole country will suffer.
Therefore, it is not a joke that negotiators on both sides of the issue are still pussyfooting and calling the talks to be moved from day to day. Every second that goes by brings uneasiness to many Americans. They are urging Democrats and Republicans to agree on a compromise that will not push the economy into a way that will be more destructive beyond repair.
That is, if the debt ceiling controversy is not dealt with sufficiently enough, the mighty dollar will decline, interest rates will go up, unemployment will stay high, if not increase. The uncertainty surrounding the whole thing will drive investors away, causing the stock market and other financial institutions to falter and become disoriented and unmanageable. The deficit will become enlarged in the end, and that will make matters even worse for the United States.
However, the effects will not stop at its borders, but they will impact the larger global economy in so many negative ways, and thus finally destroy America's reputation as a reliant trading concern and partner.
The omens are pretty awful to compel business associations to send a letter to negotiators, asking them to put aside "hard-line partisan positions" and come to a compromise.
"Our political leaders must agree to a plan to substantially reduce our long-term budget deficits with a goal of at least stabilizing our nation's debt as a percentage of GDP (gross domestic product) -- which will entail difficult choices," said the letter from the Chamber of Commerce, the Business Roundtable, the Financial Services Forum, the National Association of Manufacturers and the Partnership for New York City. (CNN Report, 7/13/11).
Indications from every angle point to the fact that the country is headed for more financial backlog that will take many years to dissipate or to be cleared up; and it will have left the already fragile economy in a bad state than before the beginning of the negotiations.
All because of the obstinate pride of a handful of politicians, who do not want the Obama administration to succeed.
Some media pundits are also playing a foolish game on the sidelines, calling President Barack Obama's position a bluff; and that there is enough money to meet all important government obligations, but just a few that can wait. What?
Fox News Special Report is guilty of presenting folks, who think that they are smarter and more conversant with the government's dealings than the government itself. That must stop instantly, as the negotiations have reached a point where the stakes are high; and as a result, tensions are also very high. Any such stupid comments on the part of these pundits and News Contributors will not help at all.
The stalemate must be broken to allow the nation to breathe freely once again. Besides, the talks have nothing to do with "dancing", as a senior Republican participant is quoted to say. Suggesting anything as trivial is unrealistic; they (talks) are more serious than that.
"Senator Graham said if the debt ceiling is not raised, it would be “a disaster.”". (ABC News, 7/13/11).
People must put that in their pipes and smoke it.
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