Has American exceptionalism been superseded by incalcitrance of an especially egregious nature—at least, at the highest political levels? So it would seem when judging from daily/hourly media reports on the current U.S. debt-spending crisis.
What sort of mentality, I wonder, does it take to play an adolescent game of “chicken” with the world’s and U.S.’s economies? What part of “this is lunacy” don’t these folks understand? When the House of Representatives shot down the initial TARP bill in late 2008, the U.S.-based Dow average fell 777 points. Four days later, the House passed the bill—and, even then, with only 57 members switched their votes. That’s scary.
What will it take this time?
Will it take another stock-market free-fall to convince lawmakers to find a compromise which includes tax reform and spending reductions? Don’t look now, folks, but the eleventh hour has arrived.
As an outsider who’d suffer from a post-Aug. 2 fallout of the continued bullheadedness of American lawmakers, it looks to me like they’ve invited Checkers players to a Chess tournament.
Have these people really lost the knack of getting things done?