- Thread starter
- #21
To begin with I will agree that the degradation of our credit rating from AAA to AA will only compound the problem of the budget deficit and debt ceiling. We would have to pay higher interest rates giving us an even larger hole to dig out of. This is especially true in our current time of economic recovery in which anything negatively affecting our nation's credit standing and economy will trickle down through all levels of the economy to each and every citizen.
This being said, it does not mean that the government should continue to raise the debt ceiling blindly whenever they "need" to. It is far past due time that the government gets responsible with its budget decisions.
A balanced-budget amendment is a wonderful idea for the future and is not only responsible but makes common sense. If each citizen in a nation has to balance their checkbook, why shouldn't the government have to? However, it is not the time at the moment to try to attach such a dramatic amendment to the constitution on a bill which must be decided in a short amount of time. It would make the bill extremely difficult to pass due to the large amount of support to propose and ratify amendments to the constitution in both Congress and the state legislatures.
You cannot spend your way out of economic hardships. If you are short on money or in debt, stop spending; it is a simple solution. At this point it makes no difference to me who is doing the spending in the government, it simply needs to be reduced and become responsible. I respect the Republicans at the moment for calling for spending cuts at a time when they are needed, and strongly condem the Democrats for sticking to their failed method of economic recovery and personal agendas. When it comes down to the basics, there should not be a debt ceiling increase without a commitment to spending cuts at the same time. Although many do not think the situation is as serious as some Republicans are making it out to be, the American credit rating is in danger of being reduced in around a month. That seems fairly serious to me.
On another note which was previously mentioned, the economy is not uniformly powered by the middle class consumer. The state of the economy reflects all classes of people. It reflects the success of the rich, their willingness to invest back into their businesses and country, their charity to the less fortunate, and their innovation for the future. It contains the rise and fall of those in the middle class, their struggles and their successes, their ability to dictate markets and policy, and their responsible or irresponsible financial decisions on the family level. It shows the drain the poor has on the economy, the unrest caused by their condition, and the strain their entitlement programs has on the rest of nation. Finally it reflects the policies of the government at every level, the level of fiscal responsibility it shows, and the economic innovation whcih is inspired or deterred by those in power.
Yes, in today's world a large part of the economy is driven by the consumer and the decisions that he or she makes regarding the goods and services they perchase on a daily basis. They purchases fuel businesses and at some level dictate which ones succeed and which ones fail. At the basis of the economy, however, is the entrepreneur. The innovators who come together with new and promising ideas. These people drive the nation forward by bringing new ideas, products, and technologies to the forefront of society. Should these individuals succeed and their businesses grow to unexpected levels, they should not be punished for their successes.
In conclusion, it is not one groups fault that we are in the situation we are in now. Everyone is to blame and for a solution to be found Democrats and Republicans must work together to eliminate spending, control our debt, inspire innovation, and allow the economy to flourish once again in the traditional American way. When American citizens feel empowered and supported by those around them and free from governmental obstruction, they will, like they always have, lead us once again to greatness. The government needs to get itself in order so that the rest of us may not be impeded by its failures.
This being said, it does not mean that the government should continue to raise the debt ceiling blindly whenever they "need" to. It is far past due time that the government gets responsible with its budget decisions.
A balanced-budget amendment is a wonderful idea for the future and is not only responsible but makes common sense. If each citizen in a nation has to balance their checkbook, why shouldn't the government have to? However, it is not the time at the moment to try to attach such a dramatic amendment to the constitution on a bill which must be decided in a short amount of time. It would make the bill extremely difficult to pass due to the large amount of support to propose and ratify amendments to the constitution in both Congress and the state legislatures.
You cannot spend your way out of economic hardships. If you are short on money or in debt, stop spending; it is a simple solution. At this point it makes no difference to me who is doing the spending in the government, it simply needs to be reduced and become responsible. I respect the Republicans at the moment for calling for spending cuts at a time when they are needed, and strongly condem the Democrats for sticking to their failed method of economic recovery and personal agendas. When it comes down to the basics, there should not be a debt ceiling increase without a commitment to spending cuts at the same time. Although many do not think the situation is as serious as some Republicans are making it out to be, the American credit rating is in danger of being reduced in around a month. That seems fairly serious to me.
On another note which was previously mentioned, the economy is not uniformly powered by the middle class consumer. The state of the economy reflects all classes of people. It reflects the success of the rich, their willingness to invest back into their businesses and country, their charity to the less fortunate, and their innovation for the future. It contains the rise and fall of those in the middle class, their struggles and their successes, their ability to dictate markets and policy, and their responsible or irresponsible financial decisions on the family level. It shows the drain the poor has on the economy, the unrest caused by their condition, and the strain their entitlement programs has on the rest of nation. Finally it reflects the policies of the government at every level, the level of fiscal responsibility it shows, and the economic innovation whcih is inspired or deterred by those in power.
Yes, in today's world a large part of the economy is driven by the consumer and the decisions that he or she makes regarding the goods and services they perchase on a daily basis. They purchases fuel businesses and at some level dictate which ones succeed and which ones fail. At the basis of the economy, however, is the entrepreneur. The innovators who come together with new and promising ideas. These people drive the nation forward by bringing new ideas, products, and technologies to the forefront of society. Should these individuals succeed and their businesses grow to unexpected levels, they should not be punished for their successes.
In conclusion, it is not one groups fault that we are in the situation we are in now. Everyone is to blame and for a solution to be found Democrats and Republicans must work together to eliminate spending, control our debt, inspire innovation, and allow the economy to flourish once again in the traditional American way. When American citizens feel empowered and supported by those around them and free from governmental obstruction, they will, like they always have, lead us once again to greatness. The government needs to get itself in order so that the rest of us may not be impeded by its failures.
