Washington Insanity

While I don't usually comment on the events in our nation's capital, this is one time that I feel compelled to do so. One reason is that my son is in the process of moving and has just received an offer on the house he's selling. But the buyer hasn't finalized yet and it's *very* likely that the buyer's financing costs are going to go up. At this point, that is likely regardless of whether or not our (less than astute) politicians raise the government's debt ceiling. The reason is that the U.S.'s credit rating is certainly going to be downgraded by the other 2 (of 3) rating agencies and credit across the country will be going up. Yes, that includes borrowing costs for us, the taxpayers.

Everyone out there, blame *both* Republicans and Democrats. Republicans for the budgetary mess they've generated during the Bush administration (2 unfunded wars plus the $1 trillion unfunded prescription drug program) and Democrats for being just as liable in going along with deregulation (or "looking the other way") steps regarding the mortgage backed securities fraud being perpetrated by Wall Street since at least the Clinton administration. Additionally, Democrats seem to almost never see a tax they would like to add.

Proclivity to tax and spend by Democrats, coupled with the Tea Party anti-tax fanaticism and overall consuming greed of conservatives has meant that there are no longer enough moderate voices to pass legislation, important or not, that is meaningful and rational and very necessary to the welfare and progress of our country. The answer has been clear... we need to let the Bush tax cuts expire and also cut spending in rational and appropriate ways. We then need to reform our tax code with an eye to letting all contribute appropriately (some kind of "flat" tax algorithm). If any of this happens now, at the 11th hour, it will be in spite of the Tea Party but, and note this carefully, it is already too late to prevent a fairly decent negative shock to our economy (just what we need, I know) in the form of 1-2% increases in interest rates across the board.

As Bush's administration unfolded I took no joy in knowing that I (a lifelong Republican at that point) did not vote for him either time. Or that I finally dropped my Republican party affiliation in Iowa and became an Independent. I still vote for the person I think will do the best job, but it's hard to see anyone in Washington doing that right now. All I can say is... what a bunch of losers we have there. And it's us, the voters, that are to blame. So what are we going to do about it?