Monday, September 10, 2012

Government at work: Never a plan B for debt ceiling and Federal debt limits

Last August, the Republican led Congress played political games with the American people, and eventually broke their campaign promises by voting to raise the debt ceiling on our national debt.  Now that the 2012 elections are coming up fast, the government once again faces a new ceiling as very little attempts were made to step deficit spending.

Our government leaders, from Congress to the President are proving one thing... they are not the A Team, and for Americans, there is no plan b.



When Obama learned that the deal negotiated among the congressional leaders would require a two-step increase in the debt limit, he told Rob Nabors, the White House director of legislative affairs, “The one thing I said I actually needed, they didn’t get,” referring to Reid and Pelosi. “I needed this to go past the election, and they didn’t get it for me. This can’t work.”

Obama sent word that he wanted the two Democratic leaders at the White House at 6 p.m. that Sunday, July 24. No reason was given.
Reid arrived in the Oval Office with his chief of staff, David Krone.

“I don’t trust these guys,” the president said dismissively.
Krone either would not or could not conceal his anger.

“Wait a second,” Obama said, interrupting someone else who was about to speak. “I can tell David has something else to say.”
“Mr. President, I am sorry — with all due respect — that we are in this situation that we’re in, but we got handed this football on Friday night. And I didn’t create this situation. The first thing that baffles me is, from my private-sector experience, the first rule that I’ve always been taught is to have a Plan B. And it is really disheartening that you, that this White House did not have a Plan B.” - Washington Post via Zerohedge

This event is one of the underlying problems with Washington, and with politicians.  They have no concept of money, where it comes from, what it means to the economy by spending it, and thus, government has no clue about creating monetary policies that help the country, or the American poeple.



As Jeremy Irons said it best in his Margin Call speech... "It's just money... it's made up."  This is the world today, and money in the eyes of Wall Street, and the government.

1 comments:

If our government doing their job right and know how to manage finances of our country then there will be no debts they must have a certified financial planner designation

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