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America today reminds me more of the America in the 1970's, where economic uncertainty over the nature of the economy, coupled with indecision abroad seemed to paralyze this country. On Monday the Stock Market had the sixth largest one day drop in its history. When the President spoke, the markets reacted negatively to his feeble attempts to assure stability.
Over the weekend 30 American Special Forces military personnel had been killed when their helicopter was shot down by Taliban forces, and again the U.S. seems rudderless in what strategy it is trying to pursue in Afghanistan. The administration has thus far failed to articulate a comprehensive strategy in Afghanistan. It appears that the strategy the President proposes is based more on politics then on any military strategy.
Currently, economic instability in Europe has affected U.S. markets, but our own economic policies have also affected the economy. Too often leaders in Washington have routinely debated raising taxes and spending reductions as a way to reduce the massive federal debt. Unfortunately, Washington politics continually contributes to high unemployment and flight of jobs overseas.
If the U.S. wants to reduce the federal debt, it will have to reduce the persistent high unemployment rate. Washington passed the massive stimulus plan in 2009, we were told that its passage would keep unemployment under 8%- well we have been over 9% for over two years.
As a small business owner, I see first-hand the affects of misguided policies of Washington and its continued failed economic policies. Maybe if at at least some of this administration had run a business before we would be in a far different place economically. This period reminds me more and more of the 1970's!
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Today, the Senate approved the landmark federal debt ceiling plan 74-26, which would raise the federal debt limit and radically reduce government spending. The measure now goes to the President to be signed into law.
After weeks of contentious and downright vigorous debate about reducing the ballooning federal debt the partisan battles will continue into the fall and definitely into next year's pivotal presidential election. Still left to be decided is the 2012 federal budget, as of right now, none of the appropriations bills have been signed only the House has passed a budget.
President Obama's 2012 federal budget was defeated by the Democratic controlled Senate 97-0, with nothing else submitted in its place. The contentious battle over the scope and direction of the federal government will definitely continue into next year.
The 2012 presidential election will be a transformational election one that will present two competing ideologies, one the American people will have to make.
President Obama will be campaigning on the theme of a more activist role for the the federal government in the nation's economy, which in turn he believes will spur economic growth. Republicans will be campaigning on less government involvement in the market place, with more market orientated business practices to expand the nation's economy.
The American people have two stark choices to make.
http://militarybriefingbook.com/topic.cfm?topic=U.S.%20Politics
Late Sunday night both parties agreed to raise the federal debt ceiling in conjunction with $2 trillion dollars in cuts in federal spending. Now, the political protagonist will have to sell the agreements to their respective members before the President signs the legislation.
The Stock Market has closed down over 100 points, mainly from the news that U.S. manufacturing barely grew in July, and fell to its weakest point in more than two years. This after Friday's report from the U.S. Commerce Department that showed for the second quarter U.S. Gross Domestic Product grew only 1.3% and a revised 1st quarter growth of 0.4%.
The anemic growth of the nation's economy has the U.S. stagnating as it enters its third year of recovery from the deepest recession in generation's. There is speculation that the nation has entered a second double dip recession.
Friday, more depressing news will hit the economy when the Labor Department will release July's unemployment numbers. Right now Washington political pundits are debating the winners and losers of the debt agreement, but the real losers are the American people who are saddled with a stagnate economy, persistent high unemployment, and with little outlook the economy will improve in the near future.
There is little joy on Main Street!
http://militarybriefingbook.com/topic.cfm?topic=U.S.%20Politics
Throughout the debt crisis in Washington, the one prevailing theme has been, where is President Obama? Even the New York Times has questioned the absence of the President at this crucial time. Since Monday's press conference, President Obama has been rarely seen or heard. Today, the President in a short statement mentioned that the GOP plan in the House has "no chance of becoming law," urging "bipartisan compromise" in the Senate.
The President has urged bipartisan compromise, unfortunately President Obama has resorted to partisan rhetoric, all the while failing to submit his own proposal. Throughout the process, the President has failed in presidential leadership, the budget he submitted in February, was soundly rejected by the Democratic controlled Senate 97-0. President Obama has even failed to address the federal debt, which is the basis for the crisis today, by failing to accept any recommendations from his own debt commission.
The one aspect that has been rarely reported, was last year when the Democrats controlled both the House and Senate failed to pass a budget, which was only resolved this spring. Senate Majority Leader Harry Reid failed to increase the debt ceiling last December, instead decided to let the next Congress tackle this volatile issue.
All the while President Obama has provide very little leadership and only resorted to partisan politics and wanting to push the crisis forward until after the 2012 Presidential election. Hardly asserting presidential leadership.
It's time for the President to start providing leadership, instead of engaging in partisan politics.
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The on going debt debate in Washington has both Republicans and Democrats prepared to take the U.S. over an economic cliff just to preserve their own partisan agenda. Throughout this entire crisis each party has behaved in a despicable manner, all the while stating they are doing this for the America people, when in fact they are only serving themselves.
Republican's have to understand they only control one branch of government! In our constitutional system of government, one branch of government can not pass a budget without the Senate and eventually the President signing the budget. At some point you are going to have to compromise, otherwise you will force the U.S. to default on its debt obligations for the first time.
Democrats on the the other hand have acted just as stubborn as Republicans failing to understand that you will have to overhaul non-discretionary spending, which means reining in entitlement spending of Social Security, Medicare, and Medicaid. You will never be able to meaningful reduce the federal debt without reforming social spending.
President Obama has acted less like a President and more like a partisan politician. While running for president in 2008, he repeatedly stated that he could bridge the partisan divide, well he has made matters worse. Throughout this debate the President has failed to deliver a budget or summit any written proposal on how he would reduce the federal debt. Too often the President has often resorted to partisan rhetoric and partisan warfare, then acting in any presidential manner.
What this country needs is for both parties to act in a bi-partisan manner and for the President to assert presidential leadership, other wise disaster is in store for the United States.
http://militarybriefingbook.com/topic.cfm?topic=U.S.%20Politics
