First, the S&P downgrade in essentially nonsense. Imagine, if you will, that you've made all of your credit card payments on time. You've never been late, never failed to pay an account, your debt to income ratio is within norm. Now, imagine, you hit a rough spot with your wife and the two of you get into a bad argument over how to handle your budget. But, you resolve it without missing any payments. Now, because of that argument, your credit score gets nicked. Sound fair?
Of course not. It's none of their business. All they should be concerned with is whether you can make your payments. Whether or not you are a good risk to extend loans to. Simply put, how America handles its financial house, so long as its handled, is none of S&P's business.
But, the problem is still indicative of something greater that is a real concern: We are no longer the top economic power in the world. And, quite honestly, its shameful and embarrassing the way we've been handling ourselves. We lost a lot of trust and respect in the global economy over this. And we're going to lose more if we don't get our act together.
We need leaders that either know what they're talking about or will listen to those who do. We don't need ignorance and anger and blind adherence to poorly-thought out ideals. We need a balanced approach to resolve this. The time for childish bickering is over, the time for us to regain American pride is starting.
Balance the budget. Increase tax revenue from those who can afford it. Reform and re-prioritize our spending. We need to make infrastructure, education and development our focus. Create jobs now, rebuild our literal and spiritual foundations. Lay the pieces to make us the long term world leader again.
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