The financial crisis of 2011 is a victim of “No Leadership”. Everyone crises foul, everyone knows the potential outcome, and yet the three major parties; Senate ,House, and President lack the ability to communicate to the American people in a meaningful way.
Let us begin with the president. He has not yet communicated what the budget should be. He has said on numerous occasions what he does not want. That is not leadership. Being President of the United States requires some leadership by laying out a plan and having the guts to see where it goes. President Obama should have led 4 to 6 weeks ago.
The Senate does not lead, at the current moment, if they had a plan where was it? Senator Harry Reid and Senator Mitch McConnell spoke about giving the president temporary authority to end the debt crises. Senator McConnell’s idea is a violation of the Constitution. Only the House has budget authority. It appears that so far the country is losing ground due to a failure of “Patriotic Leadership”
And then, the Republicans give us Cut, Cap, and Balance. Do I believe all Republicans are ideologically blind to the danger of defaulting on our debt? No! But being adamant on not raising taxes on a select few, or dealing with millionaires who make money on hedge funds, or even looking at the huge corporations that can afford a per cent of their earnings go into eliminating the debt is not being prudent. Cutting items from the budget requires skill, cooperation, and a balance so that the social programs such as Social Security and Medicare are not cut. Can they be modified or adjusted? Yes. Perhaps looking at who receives Social Security benefits and their eligibility. One idea, eliminate dependent children from receiving a parents Social Security for school when the adult is alive and receiving it. Another way to help is end full retirements for members of the House and Senate.
Capping expenditures should be tied to the requested new taxes. The new taxes cannot be used to pay for existing or new expenditures. Taxes must be used only for debt payoff. Streamline all Congressional and Executive committees unless specific to the protection of the people.
Balance Budget Amendment is a non- starter. It is only an ideological and philosophical argument that is not practical in world finance. Those individuals that think that we are above paying our bills or not meeting our debts are nor very Patriotic to the Nation as a whole. They are holding the US hostage in order to make a political statement.
This country demands better. WE are a Republic and the country must become Progressive in a way that is beneficial. Progressive in the future must be what our founding fathers wanted Republicans of a Republic.