According to a
recent Rueters article, Senator majority Leader Henry Reid held an initial
session with Senate Republican Leader Mitch McConnel. A negotiation is trying
to be reached before Thursday, which marks the deadline for raising the debt
ceiling. “Even if senators craft a proposal to end the government shutdown and
raise the debt ceiling, at least some Republican support will be needed to pass
it in the House. That support is far from guaranteed, especially if the Senate
deal does not include any new attacks on the healthcare law.”(Ferraro and Reid)
As October 17th draws in closer, people are starting to get nervous.
What if Congress can’t make a deal? I’m starting to wonder if they ever will
at this point. Tomorrow is the day to settle on the debt ceiling and if no
agreement is made I ‘m scared to see what will happen. If Thursday arrives and
no settlement is made economists note that it won’t be long until the economy
is negatively impacted. If America won’t
be able to borrow any more money then they can’t pay the debt, and if America
doesn’t pay their debt then they lose credibility. When America’s economy
falls, so does everyone else’s. Nobody wants to see another economic downturn and
I hope an agreement will be made tomorrow so that such a thing won’t happen.
http://www.reuters.com/article/2013/10/12/us-usa-fiscal-idUSBRE98N11220131012
Honestly, I don't believe that there is any other option other than an agreement to raise the debt ceiling. This entire argument that has been going on has been absolutely pointless because when it comes down to it, the raising of the debt ceiling is NOT a new concept, and its something that needs to be done. With that being said, of course they will make an agreement by tomorrow. Both parties have been unfairly stubborn in their ways, but neither would allow for such economic impacts as they would be career ruining as they would practically tarnish the value of the American dollar. While this is agreement is ultimately a good thing for the U.S, it surely angers many Americans as this agreement could have been made without inconveniencing countless Americans.
ReplyDeleteI agree with both of you about the immaturity of our Govt. Officials over such minor concepts. As you said Joseph, raising the debt ceiling is no new idea, and does not need to be such an issue. Yes the timing between the dispute over Obamacare and the approaching of the fiscal ceiling was unfortunate and impractical, but it was hardly worth a government shutdown. today senate is working on passing a bill, that will hopefully appeal to enough members of each party to end the silly dispute and the shutdown
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