As we all know, the most pressing issue of today's politicians is the closing deadline for national default. Many Americans have been talking and blogging about the issue, such as The Opportunity Agenda on My Direct Democracy who discuss "Why Conservatives Can't Afford Government Default". If Democrats and Republicans cannot come up with an agreement before August 2nd, our great nation will default for the first time in history, with "catastrophic results". Democrats and Republicans are still deadlocked on the issue, with Democrats unwilling to make "deep cuts" to Social Security and Medicare and Republicans unwilling to end tax breaks for wealthy Americans.
This article is aimed at Democrats and Republicans alike. Its message is that "Economists agree that national default would be devastating, with consequences ranging from collapsing financial markets to plummeting pension funds and 401(k) savings to the disappearance of loans Americans need to get a mortgage, buy a car, start or expand a business". The author suggests that these predictions by economists are widely agreed upon, and these predictions are inevitabilities. He uses these professional statistics to increase his credibility on the issue. That being said, Republicans have even more to lose if this prediction should hold true. This prediction undermines the limited government approach Republicans have been preaching for years. It shows Democrats how stubborn the Republicans are being, as well as demonstrates that they are the not the only party who has something to lose.
I agree with the article to an extent. I think Republicans are facing a lose-lose situation on this issue. Either they will be forced to admit that government intervention is necessary or they will be forced to accept it after August 2nd. Let's hope for all our sakes that it is the former.
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