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Fix the Debt

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With the big fight behind them, it’s time for the leaders in Washington to sit down and get to work in order to prevent another confrontation in January. Haha! I know, it’s always best to open with a joke, so I hope you liked that one.

Well, if you’re like most people this isn’t a joke at all. The Federal budget deficit is serious business and one of the most pressing problems facing this nation. There are a lot of myths being repeated, however, and many people will be surprised to learn that the deficit was reduced dramatically in 2013. With some growth happening it’s down to just 4% of the economy – from a high of nearly 10% in 2008. But it’s still critical to get a handle on things before the median Baby Boomers start retiring in 2017  if we’re going to realize a new era of growth.

Ready to get serious?

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Appalling Behavior

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As we continue to slouch towards a default of the US Government, the situation remains appalling. There is no apparent movement and many in Congress don’t seem to take the situation seriously. “I think, personally, it (a default) would bring stability to the world markets,” said Rep. Ted Yoho (R-FL), claiming that it would show that the US is serious about its debt problem. Nothing would change the mind of someone this willfully stupid about how markets work and what US debt (and US Dollars) represent to global markets.

But that’s just one Congressperson from one district, right? No, it’s not that simple. This is appalling behavior all around that threatens America’s economy, prestige, and ultimately our ability to function at all in any kind of organized way. I’d like to make it clear what appalls me, personally, about how this is playing out and why it’s not just a partisan issue.

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Losing? Change the Rules!

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What would it take to end the shutdown or, more importantly, raise the debt ceiling in time to avoid default?  As polling shows that this tactic (not strategy!) has proven to be a terrible disaster for the Republican Party it would seem reasonable that there are enough votes in the House to pass a “Clean CR” or bill to fund the federal government and reopen everything.  CNN has polled the membership and found that indeed if the Senate bill was introduced on the floor of the US House it would pass rather easily with bipartisan support.

So why doesn’t a vote come up?  House rules normally allow any Representative  to bring a bill from the Senate with differences from the House directly onto the floor for a vote.  But in a highly unusual parliamentary maneuver the House simply changed the rules to take that out of the hands of any member and put it exclusively in the hands of Eric Cantor (R-VA).  And so it stands that he is the only person in the US right now that can end this standoff.

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Endgame?

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What will it take to end the shutdown?  There isn’t much that can be compromised in this situation, given that we have two issues at stake – the Affordable Care Act (aka Obamacare) on one side and the continuing resolution plus the debt ceiling on the other.  There’s just not a lot of give when you have this kind of asymmetry.  So it’s almost certainly going to be one side that caves.

As said before, it’s hard to imagine the President and his supporters in the US Senate giving in, so let’s just call that a low probability event.  It’s probably going to be a Republican give of some kind.  And one is brewing in the form of a general revolt of “pragmatic Republicans” who understand how dangerous this game is.

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Dear Republican Friends:

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How ya doin’?  I know this is a tough time and the last person you want to hear from is a Democrat, but many of you are friends of mine.  Some of the kindest and most decent people I know are Republicans, and I care about you.  Much of my family were and are Republicans, too.  You have to know I write this from the bottom of my heart.

I’m really worried about you – as a party.  I think that this nation works best when there are two engaged, committed, fearless, and honest parties mixin’ it up – but also gettin’ ‘er done.  And …. well, rather than just get mad and blame you all for the very public way your party is ripping apart I thought I’d offer my support and encouragement for you to get better soon.  Really, anything I can do to help.  But let me tell you why this is so important to me.

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