Friday, July 29, 2011

3 Days Left Until U.S. Government Faces A Default

 It is a time to get something done, or there will be consequences! First of all it is ridiculous how slow the government works, they are debating on this issue for so long and it seems like they can not get anywhere with it.

 Republicans plan by Boehner was reworked few days ago, as at first he got the math wrong, as it did not cut enough money, he reworked the debt-reduction bill, but ironically, he can not get enough votes to pass it the House of Representative, which is controlled by his own party(!!!!), seems like he is not quite a speaker the House needs, if he can't get his bill passed in the House that is controlled by the GOP. Of course, Democrats said they not going to vote for Boehner plan, and even if it passes in House of Representatives, Democratic Senate said they will not approve it, but push the plan of Democratic Senate leader Harry Reid, which is not as known, as it gets little attention from media, as opposed to Boehner plan. However, recently I read that some Republicans in the Senate considering to back the Reid plan. The newly appointed Republican members, however, do not want to make a deal with anyone, as they keep pushing their agenda of passing an amendment to balance the budget, which sound great, but 3 days left, you not going to get an amendment in 3 days now, they have to comprise. Obama, as majority of other Democrats as well said that there no way they will vote for an amendment. Talking about Obama, he is a president, but in reality he is just sitting on a bench right now, not doing anything, why can't he gather everyone and propose a plan that would be bipartisan??

 This is really frustrating, as raising the Debt Ceiling right now is essential for everyone in the nation, as if default comes and government can't pay their bills, we going to have a problem! Default leads to nation's credit score going down to AA, from AAA. What that really means is that the stocks will go down, angering whole Wall Street gang, percent credit cards, loans will go up significantly, additionally houses and other real estate properties will loose their value, affecting everyone.

I think now it does not matter what beliefs on holds, you have to compromise to get something done, raise the Debt Ceiling or whatever it takes to avoid the Default. It is unfortunate that they can not get a long-term solution, but it is to late now, so now we need any solution possible. 

Senate saying that they will kill Boehner bill is a little pre-mature, as I hope they will bring for discussion and perhaps make some changes to it to satisfy everyone.

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