DEBT CEILING AND DEFICIT REDUCTION.
Congress must do something.
The debt ceiling and the deficit reduction combined controversy continues to invade the privacy of all Americans.
President Barack Obama has devoted most of his time in meetings after meetings to get lawmakers to work with him in resolving the problem that the country faces; hoping that his efforts will be rewarded in the end.
Several plans have been put out, the latest being "Cut, Cap and Balance", which has been sponsored by the House Republican majority and will be ready to receive a vote today, Tuesday 19th, 2011.
However, its chances of passing through the Senate is so slim, it is predicted to suffer a DOA (Dead-On-Arrival) outcome in the upper chamber; or it is slated for a presidential veto.
Yet, other plans are being considered for America to refrain from defaulting on its debts for the first time in history; an event that will be froth in widespread economic tragedy.
Senator Tom Coburn (R-Okla.) has the boldest one of all, which he names as "Back to Black", and centers on making deeper cuts to achieve its objectives.
"The senator is unveiling a plan to reduce deficit spending by a whopping $9 trillion, shrink government by some 20 percent and balance the budget, all within 10 years.". "It's specific, it's detailed, it makes hard choices," Coburn said. "And it's rough, but it's necessary.", he is quoted to have added.
The good news is that the attention of a whole nation has been drawn toward a single goal of getting America to be economically sound again; and even though there are varied plans, they are all designed to nurture America's fiscal condition back to good health once more.
No matter which side one finds himself or herself, failure by the United States to default on its financial obligations must not be an option. It will disastrous.
It will be like going to your local bank to get some of your own money out and finding no one there, although the doors are still open for business. You will meet thousands of others who are waiting to do the same thing; and imagine the bedlam that can cause. If that does not send a cold, chilling feeling down your spine; there is nothing that can do so.
At the present moment, there seems to be an underlying factor of confusion on Capitol Hill. Some may even say that Congress itself is dysfunctional; and therefore the odds are in favor of failure to meet the deadline set for August 2nd, but the stakes, however, are too high for such an occurrence. Sleeplessness has set in for many Americans, and they must find a common ground to compromise on the present state of affairs.
It may well seem that the motivation of some members on the Republican side is to see that President Obama fails in the first African American national administration. However, what will be the point? Presidents come and go all the time; but a nation is purported to be there for as long as possible. A national catastrophe is about to happen; and is that not what they are in Congress to prevent?
People with such sinister ideas will not be hurting just the person they hate, but the future of many others, who will come thereafter. Posterity is what we must gear our attention to, in order not for it to suffer from the mistakes by present day generation.
For their sake, a solution must be found to combat the enormous debt the U.S. has incurred over the years; and that will make life better for them, as a result.
The debt ceiling and the cutting back on runaway spending vibrations are resonating all around us; the feeling is rather uncomfortable, so let Congress do something dramatic to stop those bad vibes.