I want to express these thoughts, but will focus on some other topics in the future.
The best I can say for this 2011 dysfunctional U. S. Congress is they're incompetent. They've averted a default on U. S. debt with the bill the House of Representatives has finally passed August 1st. On the bill's receipt the Senate is likely to pass the bill also, then send to the President whose signature is expected by day's end -- before the predicted August 3rd default deadline.
Congress has embarrassed our nation in the world. The threat of default should never have been an issue and those Congresspersons who made it so should be roundly politically castigated for having done so!
For the first time politics was injected into our world financial dealings adversely affecting our nation's credibility -- courtesy of the Tea Party minority wing of the Republican Party. They unnecessarily risked the full faith of credit of the U. S. Government for the first time in our history and for political purposes. They will claim in getting their way that their actions forced success for debt reduction, but what we have is a sham deficit reduction plan. Neither the Republican or Democratic Party benefits, and most importantly not the American people.
Make no mistake, we live in a Republican and Tea Party economy though they will attempt to deceive voters into believing otherwise from now until the 2012 Presidential election. That is all this Congressional political farce has been about.
Congress does have to address the nation's deficit which is primarily attributed to preceding Administrations and Congressional actions, or lack thereof. It is ludicrous and ridiculous to allege the current Administration is responsible for our nation's financial situation. Equally unrealistic is to believe this Administration, or any Administration, could quickly reverse this situation, especially considering the near financial collapse caused by multiple financial forces.
Now is the appropriate time for all Congresspersons to make a serious effort to legitimately enact legislation toward reducing our nation's deficit with minimal focus on political maneuverings. The American voter should monitor for such excessive political behavior with the intent that those who do so are the so-called legislators we should not reelect.
I think a good start would be for all Congresspersons to recognize the need to realign the tax system which includes increasing revenues from the wealthy. That certainly is not going to totally correct the deficit, but would be one reasonable contributing factor to deficit reduction. This would not create a hardship on them, unlike the adverse effects on our diminishing American middle class and those with even less. I believe those opposed provide a deliberately misleading argument that is a fallacy by saying that a suggested modest increased tax rate will take monies that would otherwise be spent creating new jobs. Those same wealthy individuals and large corporations who pay no taxes at all need to begin to pay their fair share if they truly respect and care about the United States of America's viable survival.