All Hands on Deck
Rarely have the goals of the two political parties in Washington been so clearly defined and so sharply opposed as they have appeared over the last several weeks. On one side, with control of the Senate and the White House, the Democrats want to preserve and to expand the incredible increase in government expenditure directed by the Pelosi Congress. On the other side, the Republicans are trying to turn back the tsunami of red ink. Because the Republicans only hold the House, their tools for restoring fiscal sanity are limited. Debt ceiling legislation may be too crude an instrument for this job; we will see. As frustrating as it has been to witness the battle, I hope you are as encouraged by the big picture as I am.
One of the main reasons why it has taken so long to strike a deal is the Tea Party Caucus digging in its heels. Many in Washington have voiced frustration at these representatives for their failure to budge on what these Tea Partiers consider to be a major point: the inclusion of a balanced budget amendment. A balanced budget amendment would never pass the Senate given its current makeup, and President Obama would surely veto the bill. Therefore, many think the inclusion of such a provision is simply a moot point. Continue reading
