Groundhogs day is upon us yet again, no not the one in February, the one where Congress waits to the last possible moment to try and compromise on legislation that will not cripple America and its people. There is no easy way to say this, Congress is failing the American people. They failed to compromise on the debt ceiling causing a downgrade in America’s credit rating and losses in the stock market. They continue to fail to pass relief funds for the Hurricane Sandy victims and all signs point toward failure to resolve the ominous Fiscal Cliff.
If they do not reach a compromise there is certainly a chance that America’s credit rating will again be downgraded, in addition the stock market has already began its inevitable decline. There is more at stake than your taxes. Interest rates go up when Americas credit rating drops. The country also incurs more debt; as a result resources will not be allocated to respond to the its pressing needs, I.E. Hurricane Sandy. As the stock market collapses pensions and 401k investment plans lose value. Those are your retirement resources! In addition, the housing market is weakened as Americans have less equity to invest in home purchases and construction.
Failure to reach an agreement will have rippling effects that might not even be calculable. Yet, the material losses are not the worst aspect of this mess; how can we continue to trust in a government that no longer retains the ability to govern competently? What if a crisis happens that is larger than Sandy, maybe another 9-11, does anyone have any faith that this government can respond to protect the interest of its people? I for one do not. Shame on all of our elected officials for putting politics before people.
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