Wednesday, October 16, 2013

Congress Reaches a "Deal" Just before the Deadline

Yes Virginia, the Federal Government will resume operations and be able to borrow more money.

So what did the Republicans accomplish in this whole "Defund Obamacare" fiasco?

They accomplished absolutely nothing beyond sending the financial markets on a roller coaster ride and flirting with economic disaster.

Hopefully the electorate will remember this idiocy come 2014 but I wouldn't count on it. By then we'll probably have gone through another three or four crises' with the next one looming just after the new year.

Even the minimal concessions that Obama and the Democrats seemed willing to make on the health care law fell by the wayside. This is essentially a total and complete defeat for the GOP.

I put "Deal" in quotes because this is just another band aid. The deficit is being reduced but it hasn't as yet been eliminated. That means the debt continues to grow and that is simply an unsustainable situation.

I'd like to think that the worthies in Washington have learned a lesson here and will really get down to business and address the financial issues in a meaningful way.

But, to be honest, I suspect I'm going to be disappointed once again as the game of kick the can down the road continues.

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