tdavie
Unconscious Objector
I try to follow US politics (3-4 US news channels, several websites, RSS feeds and 2 newsmagazines) and I've been aware of the super committee since the idea was first floated publicly. I knew what it was empowered to do, even if subsequent legislative measures might try to oppose it and I'm also aware of the risks should it fail (now that it is within 6 hours of effectively failing due to tabling requirements(?? heard this, not sure what it means). I never thought that it would fail. This just reminds me of the annual consular elections in Republican Rome and the eternal political conflict to the detriment of the Republic.
Can anyone explain to me why the Republicans wouldn't bend? Why the Democrats won't bend? Even ignoring another credit downgrade, the cost of short term borrowing is going to increase. I just locked in my mortgage for 5 years because I was worried about this crap.
Also, correct me if I'm wrong, but it boils down to this;
-paying down the deficit
-cutting government spending (whether size of the federal government, programs or entitlements)
-raising taxes
-lowering taxes
And yes, I'm including raising and lowering taxes.
Anyone?
thanks
Tom
Can anyone explain to me why the Republicans wouldn't bend? Why the Democrats won't bend? Even ignoring another credit downgrade, the cost of short term borrowing is going to increase. I just locked in my mortgage for 5 years because I was worried about this crap.
Also, correct me if I'm wrong, but it boils down to this;
-paying down the deficit
-cutting government spending (whether size of the federal government, programs or entitlements)
-raising taxes
-lowering taxes
And yes, I'm including raising and lowering taxes.
Anyone?
thanks
Tom