The Wall Street Journal reports on the issues facing the Debt limit of 16.4 trillion dollars. The Treasury is anticipating the ceiling to be hit around 'mid-February to early March.' The article also focuses on the split between the Republicans.
The opposition party being split is a sign of hope I think. This whole debt crisis has been a long tough process and we can no longer afford to be stalemated. At this point I think doing something, anything, is better than continuing to sit on our hands. A split may open the door for some legislative measures to actually start passing through.
John Boehner and his "want to exact $1 in spending cuts for every $1 in increased borrowing authority they agree to", is a bit ridiculous. It isn't an economic strategy, it isn't rooted in fiscal ideology. It is pure.politics. Washington dances a political game with our nation's fiances, where the only strategy considered is politically based. With the Republican party so on the rocks following this past election, divisiveness by the GOP is just another warning sign that this party needs to change its approach. Hard-line conservatives are having increasingly less public support, aside from the white male 'majority' (that is quickly on its way out). This type of strife within the Republican party itself is not a good sign for its future, especially given its shaky recent past
I agree with Travis. I think we need to get this problem figured out sooner rather than later. If we hit the debt-ceiling before the government has a meeting about it I believe that many people will lose faith in the United States government. This very well could lead to repercussions such as another recession. In the article it states that "Mr. Obama has said he won't negotiate over the debt ceiling, saying it is up to Congress." I think this is a very poor message. He should be helping as much as he can to get this problem figured out so people don't loose confidence.
I agree with Travis. Until we start actually doing something, I don't see our debt problem being resolved. Its not like we're just going to wake up one day and have no debt. The split among republicans will certainly open doors to get some regulations passed.
The opposition party being split is a sign of hope I think. This whole debt crisis has been a long tough process and we can no longer afford to be stalemated. At this point I think doing something, anything, is better than continuing to sit on our hands. A split may open the door for some legislative measures to actually start passing through.
ReplyDeleteJohn Boehner and his "want to exact $1 in spending cuts for every $1 in increased borrowing authority they agree to", is a bit ridiculous. It isn't an economic strategy, it isn't rooted in fiscal ideology. It is pure.politics. Washington dances a political game with our nation's fiances, where the only strategy considered is politically based.
ReplyDeleteWith the Republican party so on the rocks following this past election, divisiveness by the GOP is just another warning sign that this party needs to change its approach. Hard-line conservatives are having increasingly less public support, aside from the white male 'majority' (that is quickly on its way out). This type of strife within the Republican party itself is not a good sign for its future, especially given its shaky recent past
I agree with Travis. I think we need to get this problem figured out sooner rather than later. If we hit the debt-ceiling before the government has a meeting about it I believe that many people will lose faith in the United States government. This very well could lead to repercussions such as another recession. In the article it states that "Mr. Obama has said he won't negotiate over the debt ceiling, saying it is up to Congress." I think this is a very poor message. He should be helping as much as he can to get this problem figured out so people don't loose confidence.
ReplyDeleteI agree with Travis. Until we start actually doing something, I don't see our debt problem being resolved. Its not like we're just going to wake up one day and have no debt. The split among republicans will certainly open doors to get some regulations passed.
ReplyDelete