So, the story goes, the United States is the richest, most prosperous country in the world, and we're doing so well because we outsource so much of our boring old hard labor work to China, India, Southeast Asia, etc. We have the money that everyone wants, because who doesn't trust the full faith and credit clause of the Constitution? Even though we went off the Gold Standard back in seventy-three.
Damn that Nixon. Again.
The debt ceiling is coming soon, and it would appear that our full faith and credit may be taxed beyond repair. Many foreign economists are saying that if we default even a little bit, the US Dollar instantly becomes a pariah in the world of money, no one will invite it over for any more birthday parties, because every gift it gives, it takes back. And if that's the way it's going to play, then no one wants to play with it. Suddenly, our money becomes less valuable. No one knows exactly how much, but since this has never happened before in our history, a lot of people are speculating in the direction of really really bad. The US Dollar will become the last thing anyone wants to invest in or with, and our country may take decades to recover. It's not like missing a payment from the Mafia and they come and break an arm or something; more like missing a payment and they come by and burn your house down, with you and your family in it.
It will be blamed on Obama (for not being flexible enough about cuts to things like Medicare, Unemployment benefits, Welfare, etc.), even though one thing that might save our collective ass could be implemented by annoying maybe 1-1/2% of the population, i.e., taxing the well-off.
"Not the JOB CREATORS!!!"
I'd like to know the last person that was really well-off who created a job because of the current tax structure. I'm not sure why anyone would believe that the wealthy want to create jobs. Donald Trump has been running a show for the last few years whose sole object is to weed out the chaff, down to one person (who will then be Trump's personal taint-licker for a year), by firing someone every week for nine months. I realize the premise is for TV drama and all, but it does illustrate one of the big issues of modern capital/labor: if we can winnow the staff down to one person and make that person work their ass to the bone, while making them feel grateful to even have a job (even better, let's call it an internship and just not pay them), that's the definition of success in the business world. Screw the thought of making the country a better place for all, or having any sense of social responsibility - what's important is that we make money for the shareholders and the CEO.
I realize that a lot of this isn't new info, but it's getting worse and worse and worse, and our current President (who is - technically - on our side) is doing nothing about it, even when he has the opportunity. I loved it when he sat Paul Ryan in the front row and essentially told him to his face what a little asshole he was being to his constituents and (by extension) the entire United States with his dumbass budget proposal. But now the President is too busy trying make peace in the middle east (noble, certainly), when we need more leadership here at home. We need someone to explain how the whole enchilada is on the verge of collapse, and we need to deal with it now, and people need to call their congresscritters and tell them to work things out, even if it means raising taxes on the majority of people.
We know that Obama is going to point to better employment numbers, but it's a shell game. Our workers have recently become more attractive to foreign employers (have you heard? the deep south is full of factories from foreign firms that like our workers better than the Chinese because we don't strike as often). Isn't that fantastic? America is building things again! And all the profits are... going.... overseas.....
Plus the workers are essentially making minimum wage, are afraid to strike, and aren't generally unionized, because they would rather have some job than no job.
What will happen when we hit the debt ceiling and the Repugnican fruit cups decide not to do anything about it? We go from America to Afterthought in a month or two. And even if we start paying our bills again, do you think anyone's going to trust us? Foreign companies will probably invest in more factories here, because our workers will be working for a pittance compared to what little they're making now. We will be making large screen HDTVs for Chinese markets. Our economy will begin to resemble some crappy third-world hellhole, and yet we will still have one of the most powerful militaries on the planet. What will we do with our military might and no money?
Obama is still operating under the misapprehension that the folks on the opposite side of the fence are rational people. They're not. And if they come to power, God help the rest of the planet, because we'll be broke, and they'll want to blame someone (not themselves, NEVER themselves), and they'll want an excuse to use our big steaming military muscles. Or we'll be having closeout sales on our nuclear weapons stockpiles.
"Never been fired! Everything (and we mean everything) must GO!"