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Bilifuduo (98.39)

The Threat of a Downgrade...Again.

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October 23, 2011 – Comments (3)

http://beta.finance.yahoo.com/news/u-rating-likely-downgraded-again-165358268.html 

 

And why?

 Because of an impasse.....again.

This is what happens when a "bipartisan super committee" is composed of politicians who put their sectarian political interests above the interests of the economy. Sure some of them are tax and budgetary experts, but the fact of the matter is, they are first and foremost politicians. I, along with the rest of the world, am waiting to see how they will reduce the U.S. deficit by at least $1.2 trillion by November 23. There should have been at least some direct input by economists or other figures with at least a semblance of knowledge of economic and budgetary matters that are not directly affected by petty politics.

 Chances are, no one will budge until the wee hours of midnight set in and both sides are more governed by the frantic dumping out of water inside the sinking boat than by their political differences.........again.

 

I am simply hoping that this time around the frenzy to save the talks will amount to something substantial, instead of political chicanery that simply piles the brunt of the heavylifting onto some other "supercommitte." 

 

 

3 Comments – Post Your Own

#1) On October 24, 2011 at 9:16 AM, outoffocus (23.48) wrote:

They need input from David Walker.

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#2) On October 24, 2011 at 10:37 AM, edwjm (99.88) wrote:

What makes you think anyone will budge at midnight?

Won't they all just go down with the ship?

Woe is us.

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#3) On October 24, 2011 at 12:43 PM, davejh23 (< 20) wrote:

I am simply hoping that this time around the frenzy to save the talks will amount to something substantial, instead of political chicanery that simply piles the brunt of the heavylifting onto some other "supercommitte." 

If this supercommittee can't get anything done, nobody is going to have faith that another newly-created supercommittee will be any better...which is why, I suspect, they will announce the creation of the first "superdupercommittee".  How could that not instill confidence?

Either that, or Obama will say "What?  You thought I said "supercommittee"?  No, no, no...that was the stuporcommittee.  A supercommittee would be better, wouldn't it?  Now we'll create a supercommittee!...or maybe we just need another Czar!"

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