Tag Archives: Boehner

Economy at Risk with short-term deal on debt

Oooh..there are groups wanting citizens to be active in this debt-ceiling theatrical production.  What fun and opportunity to have your voice heard.  I’m filled with excitement and hope.  What a terrific opportunity for folks to separate political theatre from actual governing.  For example, I stumbled upon this link

Tell Boehner: Do Your Job
Sign up & Tell Boehner – “It’s Time
to Compromise On The Debt Celing!”
www.DSCC.org/Boehner-Do-Your-Job New Window

I’m sure there are others on all sides of the political belief spectrum.  Point is,  “Whatcha doin’?” Are you getting involved, gathering information about this issue,  talking to those who share your beliefs and those who do not, owning your beliefs;  taking time to really let yourself feel the emotions about the political theatre versus  the budget policy?  And then doing something about it?  Own It, Feel It, Live It, Love It.

There are so many places to get started.   The reality is that the debt ceiling is being used as political theatre for back-room deals.  Meanwhile, the Nation is facing some serious negative outcomes if the debt ceiling is not raised and the government is not transparent about the budget.

For example, at CBS News reports:

The first is market stability – the perilous nature of the current talks have spooked rating agencies which are threatening to downgrade the U.S. credit rating, which would spike interest rates, making it harder and more expensive for everyone to borrow money and pay back loans, especially the federal government. Preventing that possibility for as long as possible is a good thing. Stability in knowing that Washington won’t be going through another debt debate again soon will help calm the market and investors.

(Credit: AP Photo/Manuel Balce Ceneta)

The White House reiterated its opposition today, saying that “a short-term extension could cause our country’s credit rating to be downgraded, causing harm to our economy and causing every American to pay higher credit cards rates and more for home and car loans.”

A close second reason: Simply not having to go through this again. The morass that has overwhelmed Washington looks bad for all sides, and shows that the federal government is not functioning well. The president believes that going through this debate for a second time in the near future would be a futile exercise, made even more difficult by the fact of 2012 being an election year.

And third? Yes, politics. Keeping the debt and spending issue away off the front pages and out of the election season will be a good thing for the White House, just as much as getting a big debt deal done would help show that President Obama is serious about getting the nation’s financial health in order.

While the president may wish to avoid the politics of another debt ceiling increase until after the next election, the White House is hoping that stability in the debt issue will take away one nugget of uncertainty that could be dragging down the economy. With certainty in the markets, their hope is that the economic recovery could get back on track. They fear going through another debate like this wouldn’t help.

“What we’re not going to do is to continue to play games and string this along for another eight, nine months, and then have to go through this whole exercise all over again. That we’re not going to do,” said the president, optimistically.

After Republicans backed out of the latest rounds of talks, an angry president charged them with going for a short term goal to play politics with the debt issue.

“How serious are you actually about debt and deficit reduction? Or do you simply want it as a campaign ploy going into the next election?” he said Friday night.

via Why Obama wants to avoid short-term deal on debt – Political Hotsheet – CBS News.

 

The Educating Gossip™ wants to know:   “Whatcha doin’?”