Debt Deal Reached, Not For US Because of Stupid Bumper Sticker Promises
When I saw a tweet that stocks rose because a debt deal was near, I thought it was the Gang of Six in the US that was close to working something out. Alas, it is not. It was actually the Euro debt deal that was close to being reached and it was a BBC post.
It seems like we in the US are not willing to suffer through austerity policies but I reckon our diplomats in other countries and world bank and financial organizations are preaching it to other nations.
Here in the US, one of the richest and, because of our debt, the poorest countries in the world, we are capable of solving our problems but the political process has been hijacked by special interests on the right, left, and, recently, selfish ones. There are hard choices to make and I think President Obama is the right President to make it.
Unfortunately, the GOP is beholden to bumper sticker promise about no new revenues from taxes. It's a good election ploy but in reality, if allow some loopholes that was not supposed to be there to begin with closed, so be it. The larger national interests are at play here.
The Tea Party has taken over the GOP House. I think that's a good thing but they also have to confront the reality that their ultimate goal is to reduce the national debt and get our economy growing to the point that Americans can go back to work. That prosperity returns. That should be their goal, not about taxes.
If the EU, composed of nations that do no speak one unifying language or share a common culture, can do it, we damn well better do better.