Saturday, July 30, 2011

14th Amendment Time?

Now it's bonds WITH shackles!
       Boehner's bill is dead, Reid's bill won't make it through the House, Obama calls for compromise.  In a perfect world compromise is what intelligent, pragmatic people would do in this situation.  And I'm pulling for compromise, don't get me wrong.  (My Euro short isn't working as it should because it's been a race to the bottom for both currencies lately, but - while the debt ceiling debate gets all of the air time on this side of the pond - the Eurozone is really melting down, due to even bigger problems than Uncle Sam has.  I need a resolution here, guys!)  But obviously this is not a perfect world.  We're talking here about sleep-deprived, harried, telephone-eared people who've eaten way too much Al's Pizza (although it is nature's perfect food), and - given the Teapublicans slavish devotion to guns, God, and Glen Beck - it may not happen in time.  My solution if it doesn't?  Obama should invoke the 14th Amendment, and raise the debt ceiling himself.  Why?  Because: a) enough already, the point has been made about the unsustainable U.S. debt, b) nobody really knows how bad the consequences of a downgrade or default would really be.  Everyday I hear some new analyst somewhere who's found yet another hitherto undiscovered obscure "baddy" that scares the crap out of me, and c) polls show that 2/3's of Americans want this matter resolved yesterday.  (And 9/10's want the weekend to be about football - and not the political type!)  It's been done once before, apparently, and needs to be the back-up plan now.  Over to you Barack.

Today's Good News:  The weather's nice and the beer's cold!