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American politicians are all smiling and acting as if they are heroes. They expect us to applaud them and bow down to their brilliance, for what?
They have been able to pass a bill that will, for the moment allow the Federal Government to pay their bills.
Hello, that is what they are there for, except they are supposed to be doing it in a far more mature manner.
Both sides knew they would get a bill through but delayed it as long as possible to impress their special interest groups. In the mean time the country suffered and the people, who they are supposed to care about, had to suffer a drop in the rate of the dollar and a slump in the stock market. I am sure that the special interests were aware that there would be a deal and so were able to make money out of this situation.
What have they achieved?
They have agreed to raise the debt ceiling by $2.4tn, whilst agreeing to pay back $0.9tn. The 2.4 will probably take them to 2013 and 0.9 will be paid back in ten years. I know that a committee has been set up to find how to pay back another 1.5tn but again that is over ten years.
So what do we have: 2.4 to last 2 years, multiply by 5 to equate to 10 years, that gives 12tn increase over ten years. We must then though take off what they will pay back over that period, 0.9 plus 1.5, which gives 2.4.
So that means in ten years our deficit will be plus 12 minus 2.4, which is 9.6tn making a total of $25.1tn. As opposed to: the $15.5tn today.
This means the deficit will go up 61% over the next ten years.
I thought they were supposed to be discussing how to cut the deficit, not increasing it.
What has gone on over the last few weeks was a shocking display of personal egotism. A jockeying, to see who, could get their few minutes of fame. Pay backs for donations made to their electoral campaigns. A horrific show of incompetence and a lack of concern, for a Nations well being.
To borrow $10 to pay back $2 will always work now but does not solve any problem, just contributes to it. It is thinking like theirs that will bring America’s AAA loan rating down regardless of any bill they sign.
Politicians, to gain the applause of the people you need to at least halt the rising deficit. Then after a short pause if necessary, start to bring it down.
We know it is not an easy task and that is why we try to put smart people in office to deal with it. You convinced the people you were the right ones for the job, so show us.
Since you were last elected, no new wars have started, no great natural disasters have occurred, so what is the difference now from then?
Is it that then, you were receiving money and now you are paying back?
Is it that you will stop at nothing, even sell your conscience , in order to pay back your debts?
Why then is it such a hard concept to grasp when it comes to the nations debt?
It is thanks to your political one up man ship and servitude to the special interests, that have forced us to save the only thing we have left to save, our applause.