MEETING CLOSED.

For a very good reason.

President Barack Obama left the White House meeting abruptly last night, because the Republicans were getting on his nerves with the repetitiveness of their worn out idea that they wanted to reach an agreement in piece meal fashion; thus 60 days, 90 days, 180 days, or any type of periodic authorization by the United States Congress to resolve the debt ceiling crisis.

The president had previously reiterated that such an arrangement would not be possible, with the same issue coming up periodically to interrupt government business. "If things are not working out now, wait till 60 days or 90 days later, when we return to the same talks; they (things) will become worse,", he had said at one point.

Besides, he has made it quite clear that, if any partial agreement was contained in any legislation passed into law by the U.S. Congress, he would veto it.

Obviously, there were two different approaches to reduce the deficit, and to allow the debt ceiling meetings to move forward; one was to cut or to prune (down) the budget through Medicare and Social Security. The other was to impose tax hikes on millionaires and corporate executives to boost the country's revenue, however very little.

The first was a non starter for the president, and particularly, for the liberal wing of the Democratic Party. It would interfere with programs that were traditionally beneficial to the elderly and the poor. It would even destroy some of those programs, vital in some cases, to the detriment of those they were designed to serve.

The second was what the Congressional Republicans were defending, that taxes must not or could not be imposed on the rich in the middle of a recession. Instead, tax breaks must be given to businesses in order for them to create jobs.

There was a third element, which could be used to eliminate the tax loopholes in the present tax system to enable the government to collect more revenues, and thus close the budget gap considerably.

That was supposed to be the common ground being sought by the president and a great majority of the nation; but the Republicans would not have anything to do with that.

They were now seeking a constitutional budget amendment to be factored into any arrangement in the present talks for them to agree on a final piece of legislation that would pass both the Senate and the House of Representatives.

That was where the impasse came to life, because to many Democrats, a budget reform did not need a constitutional amendment, which would take several years for the 50 States to ratify.

Moreover, there was a "clear and present danger" of the Obama government defaulting on August 2nd., if its debt dealings were not met, both within and outside the country, on that date.

Thus, there was an urgent need to resolve the issue of raising the debt ceiling by a specific deadline, in order for the government to physically cover some elements in the overall debt crisis before too late; and then other plans could be worked out to tackle the huge deficit hole, brought about by two wars in Iraq and Afghanistan (remember?); plus other financial obligations that the U.S. government had both at home and abroad.

The U.S. has the responsibility to put its financial house in order, of course; however, in the interim, it must be able to get certain payments out of the way, to avoid an imminent internal fiscal catastrophe being forecast by almost all eminent economists in America. Also it must be able to maintain its high AAA rating in the International monetary world; and if that was amiss, it would cause even a greater havoc around the world; hence, the purpose of raising the debt ceiling.

It (raising of the debt ceiling) has never been in question; and it has never been denied by any U.S. legislature before; so why should it be denied to the Obama government?

That alone could compel President Barack Obama to walk out on any meeting of stubborn political ideologues, who did not want him to succeed. So, he had every right and every good reason to close the meeting abruptly.

In all the goings on in the country, many people felt sorry for the Tea Party movement, because most of its members did not understand the issue of government spending. They thought that the government was wasting tax payer money on trivial things.

They now should learn more about how the Obama government spent the country's money; for it did so very wisely. They (Tea-partiers) have been fooled by other politicians.

Comments 1 comment

HSchneider 5 years ago from Parsippany, New Jersey

Great Hub. President Obama is getting tough and is manuevering very strategically. It is time we get this juvenile nonsense out of the way and have the GOP negotiate in good faith. Compromise on all sides is needed.

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