While I admire the American democratic process that is as strong as the will of the politicians to stick to their guns, I was hoping that both sides of the debate on the debt ceiling would step back and see the bigger picture. Until the end of the discussions, both parties remained staunch in upholding their own set of ideologies. No one found the guts to say, “Hey, we’re lost. We need to trace back our steps in order to find our way out of this mess we’re in.”
With that said, let me show you the path that America had taken these past years. Below is a chronological listing of events that I have been following ever since I can remember:
January 2001: President Clinton’s term ends with a budget surplus. President George W. Bush resumes office.
September 2001: Nine Eleven.
October 2001: U.S. starts war in Afghanistan in response to the attack on 9/11 in United States on the World Trade Towers.
March 2003: Bush launches invasion of Iraq
October 2008: Bush administration and Congressional leaders call for the government to spend up to $700 billion to buy distressed mortgages.
Before President Obama got elected to office, Huffington Post had a glimpse of the future in an article written on July 10, 2008. It said,
The government’s budget deficit will surge past a half-trillion dollars next year, according to gloomy new estimates, a record flood of red ink that promises to force the winner of the presidential race to dramatically alter his economic agenda…That figure is sure to rise after adding the tens of billions of dollars in additional Iraq war funding it doesn’t include, and the total could be higher yet if the economy fails to recover as the administration predicts.
Allow me now to say this. Understandably acting on fear and anger, you marched into war in two countries, which emptied the surplus you had. All of you were participants in allowing a group of Wall Street speculators free rein in the housing market and everything else that left Washington with no other choice but to bail them out with taxpayers’ money. Now, your credit rating has been downgraded. They say it could mean higher interest rates for credit cards, loans, and mortgages.
If it happened to my own family, we would have no other choice but to tighten our belts and ask those who can afford to put more money in the coffers to pay our debts.Powered by Sidelines