Americas leading bankers met with President Obama recently and made it clear that if The United States goes into default, that is that if we run out of money, and as a result are unable to pay our debts, the results could be devastating to the American Economy as well as its continued recovery.
“There’s president for a government shutdown. There’s no president for default,” Goldman Sachs Group Inc. CEO Lloyd Blankfein said after emerging from a meeting between President Obama and top financial executives at a recent Whitehouse meeting.
The meeting came on the second day of the Government shutdown, as Congress has failed to agree on a spending plan. But executives were focused on another battle, one far more serious than the one most americans are watching today playing out in the halls of Congress. They told the President that even the possibility of the U.S. defaulting on its debt-should policy makers fail to raise the debt ceiling, would derail the recovery. It could throw the country into a recession worse than the one before. According to The wall Street Journal, The Congressional Budget Office says that without a raise in the debt ceiling, the government could run out of money to pay its bills. The United States would enter into unchartered waters, and launch a financial crisis that many are not sure how it would end.
The Conservative Republicans in the House called the Tea Party have launched a campaign to kill off the Affordable Care Act. The President said that he would not compromise on that issue at all. Senator Harry Reid of Nevada heading the Senate Democrats said there would be no negotiations on Obama Care. The President meanwhile, has accused a small faction in Congress of threatening economic crisis if they don’t get their way.
However, just yesterday, I learned that it is expected that in the end there will be a just in time resolution to what has become a yearly economic crisis. that all parties would come to their senses, and do what has to be done in the best interest of the United States. However, The Horton Journal fears that in the end, the Tea Party will go South on the agreement at the last moment to make their point and flex their power. Figuring that they have enough clout, and even if they put the country in jeopardy, they still would be able to impact the Affordable Care Act. While many in both the House and Senate are saying that such folly is irresponsible, it seems to have little impact on the Tea Party goal to play a major role in U.S. economic policy.
However, regardless of the Political perception, and both parties playing to their constituency back home, they are putting the United States in serious jeopardy, at the quest of their winning re-election. And that Dear reader is what it has become. It is not about the best interest of this country. It is not about right -v- wrong. It has nothing to do with a responsible budget. It is all about power. Ethics, responsibility, even their oath to protect and defend the best interest of These United States is out the window when considering their up-coming re-election. For them, power is at stake, and the people are nothing more than a pawn. We’ll explain it all later, but right now, it’s time for power ball.
And in the end, as is the usual case, they will look you in the eye, tell you a lie, and garner your vote. They will make promises to you, and tell you whatever it is you want to hear. All this to get your vote. And then it’s back to Washington, and they quickly forget that you put them there. Then, next year, same time, same place, same issue, and more gridlock for the drama back home.
My question is….When will we the voter ever learn….When will we ever learn?
That’s my point of view. As usual I look forward to your insights on the issues of the day. Have a great day and as usual……..God Bless America!