Watching the debt ceiling crisis and subsequent talks unfold is like watching a classroom of mischievous 6 year-olds fight over being the first to answer the teacher’s question; and it appears the question is one they know nothing about. The Republicans have gone back to insisting we adopt a short term plan that will carry us through the year, while in the mean time developing a “Super Congress” committee that will make the tough cuts and get our deficit under control. The Democrats have remained adamant that they will only support a plan that carries us at least through the 2012 election, all the while managing to do absolutely nothing in the way of presenting an alternative.
Who’s right on the debt ceiling crisis?
Absolutely no one. While Republicans have been churning out plan after plan, none have been able to gain traction with the entire party, much less Congressional Democrats. Mitch McConnell’s debt ceiling plan went nowhere, and the “Gang of Six” debt ceiling plan was a total flop. Now, the Republican’s latest plan is possibly the worst one yet, giving us only 6 months until this situation repeats itself while putting a new “Super Committee” in charge of making cuts and fixing the debt crisis down the road. Why’s it so bad? If there’s one constant in Government (besides taxes), it’s that committee’s of this nature are about as effective as using hairspray to put out a fire. Democrats came out last night basically saying they’d caved and found $2.7 trillion to cut without raising taxes, but as of this writing we have no idea where the cuts are coming from nor what we’ll do in regards to raising the debt ceiling. We need specifics, but the Democrats aren’t providing them and the Republicans’ are so bad they might as well keep theirs to themselves.
What have the Democrats been waiting for?
My questions for the Democrats is, why now? After all of these failed talks and botched discussions, you finally decide you’ll go with the wishes of the Republicans? I know this is all political, but Congressional Dems have gained nothing politically by sitting around and waiting as long as they have. They stuck to their guns about no short-term deals, which I agree with, but then fell through like jello under a cinder block about revenue increases? Something just isn’t right here.
For once, let’s put politics behind us.
Let’s get real; No way in hell Congress let’s August 2nd roll around without a debt deal. It just won’t happen. So why all the politics and drama? The most frustrating part of this whole mess for me is that Congress, both Republican and Democratic sides, have used this as a political tool when they’ve got no right to. From the outside looking in, they don’t seem to understand how dire these straits are. IF the deadline passed and we defaulted, the consequences would be catastrophic, but from the looks of it, D.C. is plugging along as usual. Yes, a debt default would reach the inside of the beltway, boys. Now more than ever Congress needs to put aside the politics and stop worrying about who stands to gain or lose as a result of the debt ceiling talks. They need pull from Reagan the Great’s playbook and learn how “talks” work and then compromise. In the end, the only winner (or loser if they somehow do nothing) is America as a whole. Like the government shutdown last year, all of this will be a lot less potent, politically, in about 6 month’s time so save your efforts.
Further Reading
- Pros and Cons of McConnell’s Debt Ceiling Plan
- Pros and Cons of “Gang of Six” Debt Ceiling Plan
- Top 10 Worst Government Policies of 2010
- TCJ Research Polls
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Thanks for reading!
Rick
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