Saturday, May 14, 2011

Raise or Default?

  Surely you're familiar with the controversy that America faces over its deficit. Do to uncontrolled spending the U.S government now faces a very tough choice -let america default on its debt, or raise the debt ceiling. House speaker John Boehner said last week that it would terribly irresponsible to let America default on it's debt, but it would be even more irresponsible to raise the debt ceiling without making any serious cuts to government spending.

In my opinion, if the American government doesn't get it's budget organized and arranges the appropriate budget cuts, this deficit issue is going to become an annual occurrence. Raising the debt ceiling without making any adjustments to it's just plain irresponsibility. Although making adjustment to government spending may bring some undesirable consequences, in the long run is the best move. It would put American on solid ground for the future, and this issue wont persist later in eventually become unbearable

Furthermore, the secretary of the treasury Tim Geitner said that if the appropriate measures are not taken to correct this issue America will be pulled back into a financial crises as bad or even worst that the one the country is just now recovering from... I know, scary thought.

The GOP and Democrats should get their house in order, and find some middle ground on their differences and so they can address the most delicate issue that America is now facing. The GOP should take a look at their budget plan which proposes some excessive cuts to some key issues of the American way of live. Mr. Obama probably did go a little overboard calling the GOP's plan unAmerican, but it's well on it's way. Medicare and Medicaid are two programs imperative to the American people and the GOP's plan practically wipes them out.

So the question remains, what would the brilliant minds that lead america do? let the country default on it's debt or raise the debt ceiling? I really hope it's the second one, but with the appropriate cuts to government spending. If not, well, we're heading for a wild ride not so long from now.

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