The Debt Ceiling Deal is Inadequate

We have some sort of a debt ceiling deal, but everybody is reluctant to tell us exactly what it is because not very many folks were involved in crafting it.  As noted in my last blog, I really don't like the fact that major policy decisions are being made by a hand full of people in secret, but I will not belabor that point today.  Most political pundits are calling the deal a compromise between Republicans and Democrats.  Depending on their political point of view, they laud some aspects of the agreement and attack others.  Some of the more extreme Talking Heads call it a "sellout" to the other side.  Nobody claims to be satisfied with the outcome and the markets are definitely not happy with it.  The argument about who created "this mess" continues.

As far as I can see both political parties are responsible for our current economic problems.  Leaders in both parties have long been pandering to wishful thinking within the public in an attempt to create a better society.  Most of these leaders have been and are "good people" who want the best for their country.  There are many divisions within our country, but generally speaking Democrats are focused on the problems of minorities while Republicans champion a free enterprise system that rewards hard work.  Both are "right."  Many minorities in these United States are less advantaged than they should be were it a perfect world, and hard work should be rewarded.  At various times in our history our political leadership leans left or right as one philosophy gains traction over the other.

Mr. Obama represents a major lurch to the left.  No matter how lofty his motives are, his policies are destroying the economic engine that has made America an economic powerhouse.  The last mid-term election represents a move back to the right and an effort to redress at least some of the damage that this president has done to our economy.  This debt ceiling deal, whatever it is in detail, is talking about insignificant numbers in the context of the problems facing our economy.  About the only thing that it might do is to slow down further deterioration a tiny bit, but even that is in doubt.  No one, right or left, believes that it will "fix the problem."  It is clear that the only way to restore the vitality of our economy is to vote Mr. Obama and as many of his Democratic allies in Congress as possible out of office in 2012.

When I talk this way to my liberal friends, they immediately tell me that although the current administration has obvious inadequacies, there is no assurance that voting Republicans into office will result in a better situation.  They frequently say that they don't see anybody on the political right that they really like very much.  That kind of response puts too much faith in the individual and underestimates the impersonal political forces that are at work in this country.  The hero in history is important, but is much over-rated.  What we need right now in this clumsy political system that we have is a course correction.  We need to elect enough conservatives to move our decision-making process back to the right for a bit.  If we do not save this economy from collapse we will not have the where-with-all to deal with the social issues that understandably concern us.