Saturday, November 19, 2011

NO MORE DOWNGRADING.

The Super Committee is still hollowing out the difficulties and the impediments in its attempt to slash the national deficit by $1.2 trillion dollars.

The deadline for its members is set for Nov. 23rd, 2011; and that is fast approaching. In fact, they have only four days to get there, from today, 11/19/11.

The sky will not fall in, if they do not reach an agreement, but then, it will markedly show how weak the United States Congress has become, of which the Super Committee is part, to solve the nations problems, no matter what they are.

The shameful side of it is that the whole world is watching the U.S. to see if its people are made of sterner stuff.

They have always portrayed that facade, and of tenacity and resilience, in fighting in world wars and other conflicts; and going to the aid of countries hit by earthquakes and Tsunamis around the globe, when they occur.

It is the land of the free and the home of the brave; as those words are vividly enshrined in its national anthem. A nation that the world looks up to, from world leadership and as the only super power to McDonald's cheese burgers that millions of people love.

It (world) has been disappointed, when the debt ceiling and (hello!) deficit reduction talks broke down, and made America's credit rating to be downgraded, and becoming lower than that of other lesser countries.

The world financial markets were affected very badly, and that has not even receded, since that time.

The stock market and other markets around the globe have suffered considerably; and as if that was not enough, another or similar failure was imminent and stirring them in the face like a doomsday prediction. "Is America going to fail again?" they were musing quietly.

How come has the strongest nation in the entire world become so incapable and extremely disoriented, the world should be saying, in its quest to address its own financial problems? When would it come to grips with putting its financial house in order? Have Americans changed so much in the last few decades, so that even its business leadership has become "lazy"?

Those would be some of the questions that people would be asking around the world, if the Super Committee should stop at reaching a compromise and failing to come up with the amount that it has been assigned to reduce from the nation's huge deficit.

Should more downgrading happen, if the committee did not meet with its expectation? Let us hope that should not occur. Yet, nobody could forecast.

No comments:

Post a Comment