Congress and the administration have one more chance to get us out of our financial debacle, debt, and deficit. The incoming bi-partisan committee, charged with selecting where and how to reduce those problems, needs to strike a massive blow to “insure domestic tranquility.” Remember the Constitution also “... secure(s) the Blessings of Liberty to ourselves and our Posterity ... .” We need to have that now, instead of securing our posterity with trillions in debt.
Even China’s president said on Aug. 6, “America must live within her means!” China holds trillions of our debt and is worried about losing its value.
I believe if our employees/elected representatives don’t simplify the tax code, drastically cut spending, and have a balanced budget requirement (as 49 states have), all the representatives who recently voted to raise the debt ceiling will face economic conservatives in their primary elections. They didn’t listen to the warning by the S&P that it would lower our credit rating, unless Congress cut spending by at least $4 trillion. They cut less than $1 trillion. Not good enough, so for the first time in our country’s history, we have a lowered rating. Congress, please listen to us, and believe us, even if you didn’t believe S&P.
Bad deeds require punishment. Your punishment is to lose your jobs, as you’ve caused so many to lose theirs.