How many times was the United States Congress going to fail in addressing the most pressing issue of the times, to find an effective way to deal with the National Debt.
The start of the effort to stringently tackle it (National Debt) was during the debt ceiling debates, when the deficit reduction was brought in to counteract the borrowing by the government from China. Each time there was a financial crisis, the nation turned to China in particular for funding, and thus making that country the U.S.'s highest creditor..
It must stop; all the people in Congress were saying, and the blame was pointing to President Barack Obama, who has inherited so much debt and financial responsibilities from the previous government, he was overwhelmed; and his only option was to get more cash from somewhere for his administration to survive.
A government without funds was no government; and so, the national debt, not began to, but continued to grow as usual. Besides the wars in Iraq and Afghanistan, that contributed more to the debt, there was the discretionary spending to take care of.
Economists of all kinds were called in to analyse the problems, and the only answer was, more borrowing, which put America over by an enormous amount. The nation now stood at $15 trillion dollars in a straight jacket of debts. The situation was still counting; and surely, it was becoming a risky scenario for posterity.
The whole Congress has become so dysfunctional, and so the only alternative was to come up with a "Super Committee" to resolve the problem, with a backup plan that if it failed, an automatic measure could be used to make an across the board cuts, starting with domestic spending through to the military budget, with the entitlement programs of Social Security, Medicare and Medicaid stretching in the middle.
What would conclude the plan was tax revenues, which should come from corporations, companies and individuals. Yet, there was a fence put around them by Conservative ideologists, that tax increases should not be permissible. Those were sacred cows, as they created jobs and made the economy to grow.
However, those three entities could stop manifesting job creation and paying taxes. They could not be forced to do otherwise, no matter how hard the government tried, as in their opinion, they were lumbered with so much revenue collection and that was more than enough.
It would be like squeezing blood out of a stone on the part of the Super Committee to deal with a problem that Congress itself could not undertake. Hence, another failure from the debt ceiling debates that did nobody any good.
Members of that committee, and Congress as a whole, could mask that failure with as much rational as possible, and that would not work; because the American people were tired with excuses of difficulties standing in the way of those who have been elected to run the country's affairs. They said they had the nerve to handle them (affairs); and if so, it was about time they proved it.
If not, what should be a fair answer to its (America's) problems? It should throw them out and vote for a new set of people to start all over again. The next Congressional elections must be able to do just that. Period.
The Super Committee still has 24 hours to rehash what the members have been contemplating in the past four or five months. Many would give them the benefit of the doubt, that they were sore in the throat, but they could come up with something substantial and puked it up, even at the eleventh hour.
Tuesday, November 22, 2011
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