I really wanted to spend some time to comment in depth on this past week’s debacle from both Houses of Congress and the President, but between being sick and trying to keep everything else together at home just didn’t leave enough time. So here are a few thoughts & comments on the situation.
Monday and Tuesday this week, Congress passed and President Obummer signed legislation raising the debt limit of the United States and not much else. Sure, there are promises to do a better job next time around, but that got tossed off to a committee that doesn’t exist yet, so Congress might get off the hook (again). So does anyone have the confidence that Congress or it’s proxies will do the right thing by the People of the United States?
Apparently not, according to Standard & Poors, who downgraded the credit rating of the United States a notch from AAA to AA+. Not only that, they stated that it could be downgraded again in six months if the financial situation of the United States doesn’t improve. They stated:
“The political brinksmanship of recent months highlights what we see as America’s governance and policymaking becoming less stable, less effective, and less predictable than what we previously believed.”
Of course, both Parties of Congress blame the Tea Party for the downgrading of the US credit rating. Actually, they’re honked off at the Tea Party for bringing to the attention of the American people the fiscal irresponsibility of Congress (no matter who was in power at the time). Quite frankly, if the Tea Part had not exposed the shenanigans of our elected leaders, it would have been business as usual in Washington – no one watching over the politician’s shoulders and they would do pretty well as much as they wanted.
But back to the point at hand: The downgrading of credit reflects the bad financial state of the country. Spending more that what the country takes in and kicking the can down the road doesn’t instill confidence in the finance rating companies. Passing legislation that does nothing more than raise the borrowing/spending limit of Congress with a promise to fix it later is sheer nonsense. And the financial industry knows it just as much as the Tea Party.
We have politicians as our leaders, and politicians are not true leaders that keep the citizens of this country as their priority. After all –
… a typical politician’s primary job is not to serve the people who elected him. His primary job is to get himself (or herself) elected or re-elected. Second is to reward all those contributors that gave $$ to help him get elected. Third is to get as many perks & benefits as he can while he is in office. Last on the list is the common person like you & I.
It is amazing that out of 311+ million people we cannot elect better leaders than what we have. More is the pity. I seem to remember a reported conversation between a woman and Benjamin Franklin:
A woman asked Benjamin Franklin what type of government the Constitution was bringing into existence. Franklin replied, “A Republic, if you can keep it.”
I think the Republic as the Founders envisioned has been lost, and replaced with something that we just cannot seem to recognize. Can we citizens of the United States ever get it back? Only time will tell, and only if the leaders we elect are true leaders, not the self-serving shadows we have come to expect.