Showing posts from July, 2011

Avoiding Damage to the Biggest Economy on Earth: the belated compromise and the shaky future?

Keywords or Terms: Debt Ceiling; Interest Rates; Recession; Unemployment; Failing economy; Failed amendment to constitution; CBS; NBC; ABC;  PPACA; Senator Kennedy; President Obama; Washington DC; Balanced Budget Amendments
There are several issues that may propel disaster for American economy due to the fall-out of inaction to raise the debt ceiling by congress: rising interest rates and slowest of all economic recovery of all time. The recession is not only bad; it is by any measure, the worst this nation has known. The nation probably had reached a point, where we can barely afford the interest payments on our debts. Had we failed to reach a consensus or agreement on raising the debt ceiling by the deadline, the survival of many sectors of the economy would have been in question; even the best of the best economists and policymakers would have wondered, why we inflicted the harm on ourselves in the first place. The dance around the potential doom by many lawmakers in congress, remin…

Default Vs. Non-default: From negotiated disagreements to cheap press conferences driven by ego from both aisle of congress, to a complete grounding of the ball?

Keywords or Terms: Economic Armageddon; Political Ideologues; Die-hard conservatives or liberals; Speaker of the House; Tea Party Lawmakers; August 2nd Deadline; Unemployment; Purists, Proposition 13; Tax revolt; Failure to reach agreement

Every lawmaker, even the most astute die-hard conservative or liberal, does not want the good old USA to default on its financial obligations and debts. In pursuit of ideological line however, lawmakers have shown preference for bill(s) coming to the floor of congress, bill(s) supposedly designed to help the country avoid default by raising the debt ceiling, with potential disparate time frame of extension, consequences or results; all of which could be interpreted in different ways regarding their implications for the nation’s ability to survive Economic Armageddon. Hardly any of the bills in consideration today is probably going to satisfy everyone in congress, no matter their political affiliation or ideological leaning. The Speaker of the House c…

Getting answer to whether the nation is about to get into default: when a deal is failing at the negotiation stage?

Keywords or Terms: Economic Armageddon; Budget and Debt Ceiling; Retirement Plans; Foreign Governments; McConnell’s Plan; Short-term plan; Mid-term plan; Financial and Fiscal Arrangements; Patients Protection and Affordable Care Act
The United States President has done his job by bringing together the leadership of the two major political parties on the road of averting Economic Armageddon. The onus is now on the leadership to engage in progressive and forthright negotiations to avert the nation from going into default. If Congress fails to bring the components of the budget and debt ceiling debate together this week, then all bets are off on the August 2nd deadline; except miracles take place. The nation will be unable to meet her financial obligations to our creditors, including State, County, Cities retirement plans, federal employees retirement plans, Veterans retirement plans,  U.S. seniors, foreign governments; all of whom hold our notes.

U.S. Congress wants us to engage in debat…

Setting higher expectations on raising the debt ceiling and balancing the budget without raising federal revenue: how insightful?

Keywords or Terms: Whitehouse; Debt Ceiling; Social Programs; AARP; GE; Exxon; News Corps; ideological position; Hope; Optimism; Republicans; Democrats

If the negotiations at the White House this week regarding lifting the debt ceiling taught us anything, it is that republicans are insatiable; that even if Democrats are willing to give away the hugest proportions of Social Security, Medicare and Medicaid spending, Republicans will still insist that it is their way or the highway. What would it take to bring the Republicans around to the realities of not lifting the debt ceiling? Would setting the lowest bar for taxation even persuade the republicans that we have to raise some government revenue to meet part of our current obligations? Would the possibility of a government default spiting the nation’s ability to secure favorable terms on future loans convince republicans of what would happen if the nation’s debt ceiling is not raised by August 2nd? Would it be the AARP advertisement tha…

Aggressive accounting practices, Debt Ceiling and the Republican Recalcitrance: how the rich continue to cheat the middle class and the poor?

Keywords or terms: Debt Ceiling; Stalemate; Tax Payers and Cheats; Rich and Poor; Josh Voorhees; Robert Murdoch; Conservative; Liberal; Internal Revenue Service; Aggressive Accounting practices; Supply-side Economics; Congressional Lawmakers; The Presidency
It is time to tell it as it is. It is time to disseminate the truth about America’s budget deficit. It is time to call a spade a spade. It is time to remind the Republicans, most of whom are fat cats, that they have been raiding the coffers of the nation and raping the hell out of the finances of this country. It is time to remind Republicans and Democrats that unless there is actual tax reform, where the rich are made to pay just as much as they should and the poor and middle class are treated like fair tax payers, this ongoing debt ceiling stalemate, whether it is out of Republicans grand standing or the Presidency’s right to hold its grounds against assault on Social Security, Medicare, Medicaid, Students loans and more, is hardl…