Our government is on Cinderella time, as the clock ticks towards midnight, the deadline to end the government shutdown and raise the country’s debt ceiling. If an agreement cannot be met today, the last day of any last minute negotiation efforts, a very possible economic disaster could blanket our Nation and perhaps the globe.
As of now, the fate of the United States’ financial future lies in the hands of the Senate, with Senate leaders from both parties attempting to save the country from imminent economic ruin by raising the debt ceiling, which would grant the U.S. more borrowing power. The deal would extend U.S. borrowing authority until February 7, although the Treasury Department would have tools to temporarily extend its borrowing capacity beyond that date if Congress failed to act early next year. A budget committee meeting is already scheduled within the House for March 13. House Speaker John Boehner has to decide today whether or not to allow a bill to pass that may be opposed by his Republican counterparts, which may hurt his political future.
As for today, the United States’ credit rating has been downgraded, according to the Fitch debt rating system.
As furloughed government workers reach their 16th day out of work, some have had to resort to food pantries and Good Samaritan efforts of others to feed their families.
All of this is to avoid the passage of President Obama’s landmark healthcare reform bill, which the Tea Party believes will incite the fall of America. Either way, if an agreement isn’t reached by 12, the holidays aren’t looking good for the people of this country.
-Sha Be Allah(@KingPenStatus)