As if the hottest week of the year isn’t enough to make you angry already…
We’re suppose to be talking about candidates jumping into races, early fundraising numbers and hyper partisan political noise, geared to win primaries and later on, be denied in general elections.
But noooooo, now we’ve got to talk about one of the most important (and boring) political issues facing our country right now. The debt ceiling.
The leaders of our country sitting down to talk, mostly for the purposes of political theater, realizing that they haven’t made any progress on solving our financial crisis and then taking turns walking out of these meetings to brag to the media about, how awesome they are for walking out of the meetings.
Conservatives are done talking with President Obama, they’re going to try and get this fixed in Congress. Harry Reid and John Boehner trying to find a solution without pretending it’s about 2012 and we all know it is.
All of this with a countdown to August 2nd, it almost feels like their should be a briefcase with a digital timer counting down to the midnight of that second day in August where, we’ll default on our economic responsibilities like you would on a flat screen TV from a rent-to-own joint, like a credit card with a 43% interest rate, like that Chumbawamba CD that you bought from Columbia House back in 98′.
They tried to get a deal done over the weekend and before the Asian markets opened this morning but, it didn’t work. Both sides have different opinions over how high we should set the debt ceiling, with Harry Reid pushing for a high vaulted model that will get this out of the President’s face until he can get re-elected. Boehner is opting for a more cozier, lower limit, that will raise the ceiling but make deeper spending cuts. That will stop the timer but, have to be dealt with again before November 2012.
If we fail to reach an agreement our interest rates will spike, our triple AAA credit rating will be lowered, and the market will throw a fit.
There hoping they can hammer out a solution by Wednesday, they’d better. We’ll be down a creek if they can’t.
Our economy is down, will it ever get up again?