Last night congress approved the budget, and agreed to reopen the government; but, like everything this government does there’s a catch. While many are celebrating the fact that we didn’t go into default, they’re ignoring the fact that congress did nothing to fix the mess this countries in, and instead probably made the matter even worse.
Not only did they guarantee that we’ll be in the same mess 90 days from now – because that’s how long they agreed to fund the government for – but not a single person addressed the fact that the country is still almost 17 trillion dollars in debt. In fact, the bill that passed added even more debt and was stuffed full of bribes that sent money back to the supporting house member’s districts. One of the bribes tucked into the bill even gave money, $174,000, to a dead senator’s wealthy wife. You really can’t make this stuff up!
90 Days till we face another Default and another Government Shutdown
90 days from now, our government will run through the same exercise in stupidity, as they fight the same battle over the same exact issues that shutdown the government to begin with. Not only did they completely ignore the problems, but they helped make the U.S the laughingstock of the world.
Immediately after the U.S. House passed the 90 day extension, the Chinese downgraded the U.S. Credit Rating, warning that fundamentals for a potential default remained “unchanged”.
The Chinese ratings agency, Dagong, lowered its ratings for US local and foreign currency credit from A to A- saying, “The fundamental situation that the debt growth rate significantly outpaces that of fiscal income and gross domestic product remains unchanged.” … “Hence the government is still approaching the verge of default crisis, a situation that cannot be substantially alleviated in the foreseeable future.”
In my opinion, this whole debacle has highlighted how much trouble we’re really in. Over the last couple of weeks we’ve seen a government who cannot pay its bills, and has no hope of ever paying down the massive amounts of debt they’ve acquired; a government who has grown so out of control that they started arresting people for entering the National Parks, and a host of government workers who were willing to go along with the Gestapo like tactics; and a Nation that looks like it’s on the edge of the abyss, just waiting to plunge over the cliff.
But don’t worry 90 days from now we get to do all over again.