Wednesday, April 20, 2011

National Debt/National Debacle

Is the national debt a national debacle? Does the current administration have any idea what a downgrade in credit means to borrowing for the national debt? How does the current administration's rhetoric do anything to resolve the national debt issue? Why is cutting spending on a national level so politically difficult when our economy can not support a debt of this magnitude any more? Why are lobbyist increasing their spending in Washington so as to influence the budget decision? To the tune of $3.5 billion dollars in 2010 to buy influence, power and a high national debt.
Why is Representative Ryan's program being vilified without even being read or understood? And where is the actual Obama plan to resolve the national debt? I only hear the constant complaining and negativity coming from the Democrats with absolutely no direction or plans coming from them to resolve the national debt crisis that they have created.
The national debt is a national debacle and needs to be resolved today. A lowering of credit value should shame Washington into action. But I forgot that economic illiteracy is the menu of choice by Congress and this Administration. The national debt is a national debacle.

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