Both parties have plans that include raising the debt ceiling. The Democrats want to raise it beyond the 2012 Election. Meanwhile across the aisle the Republicans want to raise it until the beginning of next year. All of this is the one point of agreement. RAISE THE DEBT CEILING!
This is like a high-stakes poker game with Trillions of Dollars and the AAA rating of the US on the line. Each side has already come the decision to raise, not call, the Debt Ceiling. They are now choosing by how much thus insuring the length of time before we come to this mess again. This is not about fixing the financial problems swirling around this country it is about making statement for future votes.
I’ll make it easy, there are no good guys in this debate, except maybe Ron Paul who has not wavered on his stance in 25 plus years. The Dems want to put this issue off until after the election to say they resolved the issue and come out the winner. The GOP want to start this up again at the beginning of 2012 so they can say the President is incapable of leading thus making their candidate look like the obvious choice to solve the Debt Crisis.
The real losers? The average Joe on the street watching the Economy & Dollar sink faster than the Times Square Ball on New Years Eve. The winners: those who have heeded the warnings and own a Tangible Asset Portfolio at a conservative 10% to aggressive 20% of their total net-worth. If you haven’t started, today is the day to look in your financial mirror and make the needed changes.