We used to talk about the debt as a problem for our grandkids, and then we said it’s not our grandkids so much as it is our kids. It should be obvious now to everyone that it’s not our kids it’s US! According to a member of the President’s National Commission on Fiscal Responsibility and Reform, unless and until we do something to fix the fiscal cliff, the debt, and entitlement and the tax reform, the value of everything you own will go down anywhere from 30 to 50% in a relatively short amount of time. This is serious and means suddenly, gas prices go up, prices of clothing go up, the prices of food go up and wages don’t go anywhere. A lot of people might say “that’s what’s going on right now.” Well…take what is going on right now and multiply it that is what is going to happen and everyone knows it.
There are those who last year thought when the sequestration (the fiscal cliff) was put into the Budget Control Act, that it was so glaring that there was no way anyone was going to allow that to happen, who are now saying “ok and go ahead and let that happen.” It is still glaring and the reason it was put into the Budget Control Act in the first place was to force Congress through the Super Committee to do what it should have been doing for the years prior, which is to force Congress to do something about the fiscal cliff. Congress failed, the Super Committee failed and now we are presented with this sequestration.
So where are we now? Congress is gone and they are going to try to address this in lame duck. The chemistry in a lame duck is very challenging to work in, so there are no guarantees of success, and America is left starting down the barrel of a financial disaster that is not just a 6 or 9 month thing but a fundamental crisis.
This is not a surprise! Democrats know it, republicans know it, conservatives know it, and liberals know it. They all know it and yet we have a campaign going on that is talking about anything and everything else… Big Bird, why Obama was on the view, what Bain Capital did 15 years ago rather than this financial collapse which is imminent.
There are those who last year thought when the sequestration (the fiscal cliff) was put into the Budget Control Act, that it was so glaring that there was no way anyone was going to allow that to happen, who are now saying “ok and go ahead and let that happen.” It is still glaring and the reason it was put into the Budget Control Act in the first place was to force Congress through the Super Committee to do what it should have been doing for the years prior, which is to force Congress to do something about the fiscal cliff. Congress failed, the Super Committee failed and now we are presented with this sequestration.
So where are we now? Congress is gone and they are going to try to address this in lame duck. The chemistry in a lame duck is very challenging to work in, so there are no guarantees of success, and America is left starting down the barrel of a financial disaster that is not just a 6 or 9 month thing but a fundamental crisis.
This is not a surprise! Democrats know it, republicans know it, conservatives know it, and liberals know it. They all know it and yet we have a campaign going on that is talking about anything and everything else… Big Bird, why Obama was on the view, what Bain Capital did 15 years ago rather than this financial collapse which is imminent.
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