For a long time we knew this was coming. Sometime, somewhere the Administration was not going to be able to pass on their problems to the next Administration.
We are here, this is now. I thought that Obama was going to be able to slide this through until his second term but his promise breaking deficits have brought forward the day of reckoning.
Uncle Sam has great need of sobering up on deficit. I understood from Presidential Election promises that this was going to occur to some extent. Like anything the longer it was left left, the worse it got. the core problems of the subprime were also washed over.
He is now trying to strongarm debt ceiling increase without a solution to cutting deficit. What vague concessions are for the next Administration and with a history of saying one thing and doing another his sale is not being bought.
What is the alternative? Vote in a higher ceiling with higher spending that will come in it’s wake? If the spending were to grow companies that would be considered but stimulus spending has been socially directed. In a couple of years time Uncle Sam will be facing a similar choice – with more bitter pills.
We are facing a rough ride now or later.
No comments:
Post a Comment