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.”
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.