It’s coming. It’s coming faster than many people realize and it scares me. On August 2 we as a country default on our loans. We’ll drop 14 (I think) credit ratings. We’ll be on par with Zambia. "Failing to raise the debt ceiling would do irreparable harm to our credit standing, would undermine our ability to lead on global economic issues and would damage our economy," former Treasury Secretary Henry Paulson
I’m not going into the politics here. However, the very moment we had to break into emergency reserves someone should have thrown the lock on the Capitol Building door and refused to allow a single congress-person out until this was figured out. It is unacceptable to me that with less than two weeks left (in fact barely over one week), the House would be on break this weekend. It is incomprehensible to me that the people who are elected by Americans and paid to represent America’s best interest would decide that when America’s future is at stake is an acceptable time to take a break.
On top of the House breaking this weekend, talks between the Speaker and the President have fallen apart.
“Boehner said he had withdrawn from the talks because the president wanted to raise taxes and was reluctant to agree to cuts in benefit programs.” -MSNBC Yet despite his “reluctance” to cut benefits, it’s done. The agreement made between the two men includes at least some cuts. But as of now, it includes only rollbacks of Bush’s tax cuts for the wealthy, no new taxes. Those new taxes are at the heart of Boehner’s walk out, at least according to him. “Obama has offered more cuts than any other democrat would in an effort to strike a deal, yet the republicans still are playing games. Remember, the sign of a fair deal is one in which neither side gets everything they want. The democrats have offered a deal like that but the party of no (hope) just doesn't get it.” (comment)
Here’s the part that makes me angriest. Not only is the House taking a break this weekend, but Boehner is playing games with the President. “A White House official told NBC News that the president called Boehner on Thursday night, but did not hear back. Then, Friday afternoon, the speaker's office reportedly emailed the White House to say Boehner would be available to talk at 5:30 p.m. ET. The White House called the speaker's office after that email was received to ask if they just talk right then, but his aides reiterated that Boehner would be availabe at 5:30 p.m. ET. It was during that call that the speaker walked away from the talks.” -MSNBC Boehner, we didn’t have time for you to waste a day for your pride. It’s your job, that the American people elected you to, and pay you for, to get this done.
Is this the time to walk away because you don’t agree? Gentlemen, man up and figure it out. No one walks away until this is done.