In the previous post I described the democratic party’s role in the demise of America due to the current financial crisis. Now looks look at the GOP and evaluate their role in this fiscal chaos.
One must initially look to the TEA party as the genesis of the current fiscal conservative movement. It began slowly and quickly became a rallying cry for all Americans who were fed up with big government, onerous rules and regulations and most importantly, Obama. The popularity grew so quickly that the democrats never saw it coming when they were swept out of the House and nearly lost the senate. Had it not been for the labor unions out west (Nevada, California) they would have lost the senate.
But something unexpected is happening and it is due directly to the TEA party. A split is rendering the GOP into two separate and distinct factions. It is evident in both congressional positions and those of presidential hopefuls. Michele Bachman has stated unequivocally that she will never vote for an increase in the debt ceiling, Never say never Michele, especially in politics. Speaker Boehner is trying his best to satisfy both leaderships but stubbornly resists any tax increase. These two issues alone are the major cause of the stalemate.
The TEA party congressmen and senators insist they have a mandate from the voters that must be upheld but they are blind to the catastrophe looming just days ahead. Without an agreement, some kind of agreement and a president willing to eat some crow, the following is inevitable.
1. Our triple A credit will be lowered. How much? Anyone’s guess. The direct impact will be a rise in interest rates. For every point the interest rate goes up, it costs the U.S. $1 billion a day. This will be added to the deficit as we have no money to pay for it.
2. Bills will go unpaid. We take in enough money each month to pay the essentials (social security, Medicare, military pay, interest on our current debt). But then the president must make decisions, something he is not very good at. Who doesn’t get paid?
So it’s pretty obvious there is guilt on both sides but this game of chicken is getting really serious and someone has to blink. I doubt it will be Obama as he is too arrogant to change his position (BTW, does anyone know what IS his position?) The GOP must come together and blink in unison. If not, our way of life is gone forever and we have left our children and grand children a legacy of debt and misery.
My friends, I hope and pray that I am wrong.