The President and the democrats want the US debt ceiling raised to safe the economy, the republicans on the other hand do not want the debt ceiling raised and Moody is threatening to downgrade American credit rating; it is high time washington put aside destructive politics and embrace patriotism to safe the country from another economic downfall.
The consequences of Moody’s lower rating, is high interest rates on future borrowing by the government and the failure to raise the debt ceiling means those in service may not receive their paychecks, social security checks may be delayed, and high interest rates on real estate purchases and other purchases by Americans including car loans.
The policies in Washington is dumb. Elected officials should not allow their personal gains and political aspirations to outweigh citizens interests; the republican effort to bring down the Obama administration should not be allowed at the expense of innocent Americans struggling daily to make ends meet since the inception of the crisis. During the Bush Era, the debt ceiling was raised by 5 trillion dollars however,they are saying NO to Obama’s requests to raise the debt ceiling. The House Speaker Mr. Boehner calls off debt talks with the President saying he would move forward the talks with Senate leaders.
It is time the politicians in Washington realized that failure to reach a compromise on the current issue will have dire consequences at the polls for both parties.
The American people are beyond disgust for the politics in Washington; while there is need for a budget deficit, our leadership should realize this country cannot afford another economic dilemma or default on its loans.
A default will be unbearable considering the current unemployment rate. The United States has now become a nation where college and university graduates have no job to show for their education rather, educated Americans are deep in college loan debts.
While the Obama administration has helped to rescue the economy from the recession, the policies have failed woefully to create jobs which are the most important recipes for a viable economy.
The strength of a nation does not depend only on its military might but weighs more on its economic might. Wake up Washington and reach a compromise, Americans are hurting.
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