The deadline came and passed and Congress made a deal, a compromising one. I don't agree with what the House did but they were between a rock and a hard place. I do believe that if the Republicans had continued to hold their ground, the Democrats would have caved in. If they had not reached a deal, our government would not have gone into default as often predicted, the government just couldn't have financed all their pet projects. However, it could have backfired on the Republicans and they would be blamed for any financial failure that might have resulted. I do think towards the end, they just wanted to get it done though. This bill was a compromise that shouldn't have happened. We are not getting the overall cuts we need, and the military is going to be cut way too much. The Republicans did fail in allowing this bill to pass, yet they did not have as much of a choice as they would have liked.
http://finance.yahoo.com/news/China-flays-US-over-credit-rb-3974888722.html?x=0
ReplyDeleteI don't think it was the right decision... We're in financial turmoil anyway. Not sure defaulting would have been much worse...especially since they would have worked to fix it right after. They can't fix what is going on now. I don't think it will get better from here -- and if it does, I don't think it can be a long term fix.
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