Quote:
Originally Posted by 12thMan
Gus, if you read my post and several others in threads elsewhere we probably agree on more than we disagree. Actually, I think that's the case more often than not around here on Warpath but that's another story.
Secondly a rating agency, such as S&P, has no business whatsoever issuing a rating on our nation's credit worthiness based on the politics of the moment. They shouldn't do it today, they shouldn't do it tomorrow, they shouldn't do it ever. Besides we're talking about S&P, the same company that just three years ago handed out AAA ratings to failed banks and mortgage lenders like they were going out of style. So I find their recent track record a little suspect at best. As far as I'm concerned this downgrade is symbolic more than anything else and the good old U.S. of A. will keep on trucking.
In terms of who's the blame? There's plenty of that to go around and without getting into which party was right or wrong, all I know is since 1962 the debt ceiling has been raised 74 times, about once every eight months. Often times with little or no fanfare. But this year, for some reason, it became the laser focus of some members of Congress to the extent it brought us to the brink of default. Just to be clear the debt ceiling has nothing to due with future spending levels. We raise the debt ceiling to cover spending appropriated in the previous Congress. In other words, many of the politicians that were calling for drastic spending cuts and austerity measures are on record voting for the very bills that they now oppose in principle. Take from that whatever you will.
|
I disagree vehemently with this point. Our political arena has made it impossible for either side of the aisle to be any more than whiny brats. They no longer care about what's best for the country. It seems like most of their effort is put towards trying to bring the other side down than to bind together to bring us up. Both sides need to make concessions in order to make this work, and they simply aren't doing it. That type of political environment directly relates to confidence and the economy. Watching the way they handled both the government shutdown and the debt ceiling was absolutely appauling to me.
I think we're starting to see why a republic has never lasted 250 years before. It gets so convoluted. The laws and rules become outdated and useless. Personally, I'd love to see campaigns limited to certain amounts, that are put there by the tax payers. No more private interests in campaigning. I hate when I saw a completely unrelated law tacked to a bill that virtually can't fail to get it pushed through when it couldn't pass on its own merit. Vote on one issue at a time, etc.
I know that my views of politics are very simplistic, but more complicated doesn't always mean better.