Debt Limit Political Showdown

With the debt limit looming over the heads of Americans how will people react if our country goes into default?

As Harry Reid and John Boehner seem to get further away from an agreement and time running out for the first time in US History the Government may not be able to pay the debt it owes. Will Wall Street be affected the answer is yes.The market is already falling and consumer confidence is at an all time low.

With Millions of unemployed and a true jobs crisis why are the folks in Washington talking about cuts in spending? We need jobs and now. We have a demand problem in this country. Once we can get people back to work and buying goods and services companies can grow and hire again.

The debt has been raised dozens of times over the years so why is it a problem now? We have a freshmen class called the tea party which refuse to budge on ending the Bush era tax cuts. These tax cuts are added to the the credit card and we have to spend to fund them which means they add to the debt. So are they really debt hawks or just protecting the wealthy fat cats that fund them? You can't have it both ways. Either cut the debt or extend the Bush tax cuts which already cost us 3 Trillion and created very few jobs in this country but millions in other countries. Speaker Boehner says,

"Frankly, I think it would be irresponsible on behalf of the Congress and the president not to be looking at back-up strategies for how to solve this problem," Boehner said. "At the end of the day, we have a responsibility to act."

Well Speaker Boehner ending the Bush tax cuts would make the top 2% pay 4% more and I think they can handle that. They say we can't raise taxes on the "job creators" but what jobs have they created in the past 10 years? We lost millions during the Bush years while the top 2% got ever richer. Even now they are reporting record profits.

Millions of ordinary Americans are stranded in a labor market that looks like it's still in a recession. Unemployment is stuck at 9.2 percent, two years into what economists call a recovery. Job growth has been slow and wages stagnant. So why do the Republicans and the tea party insist on cuts that will only lead to more job loss and higher unemployment? Spending worked in the 1930s with the construction on the Hoover Dam and other infrastructure projects. With crumbling roads and bridges around us and countries like China that are years ahead of us in high speed rail service, we will only fall further behind.

Just think of how many American we could put back to work and get them off the Social programs such as unemployment, welfare and food stamps. Putting people back and turning them into tax paying citizens has to be the direction we need to go in. A solution to the jobs crisis must happen and now. Spending cuts should be out of the question or we will fall further down the economic spiral.

Right now we have a large group called the 99ers that have been out of work with no benefits for over a year now. They face age discrimination and a job market that is at its bare bones with no help in sight. Everyday their numbers grow and I have not heard one solid jobs plan form either party. Just more talk on how broke we are. Well Washington the people have had enough and they are at the breaking point.

Unemployed can't find work so why is Washington so hung up on the debt limit and not the jobs crisis?