As the political posturing and debating increases in Washington many of us are wondering what this will all end up meaning in the long haul. The long haul is what many politicians are envisioning and President Obama has been quoted saying that he will not sign a short term agreement. The long term is what is going to make companies spend and hire more employees. With all the uncertainty in the air many businesses are reluctant to invest in the market that is still extremely volatile. It will not be until stability is shown that the market will be less scared to invest in the future.
Democrats and Republicans are all going to have to make concessions in the deal that could potentially last two years. Republicans want extreme cuts to all programs and while Democrats have entertained the thought they also want an increase in revenue. The past ten years has been filled with tax cuts, mainly geared toward the wealthy. It is time we see a little role reversal. We must see tax rates that affect the wealthiest of Americans go up. The middle class is shrinking and if the tax rates for the wealthy continue to plummet the middle class will disappear and the wealth divide will only become more evident.
All in all we must see real change, the American political culture is polarizing to extremes that have not been seen since the civil war. These are two conflicting ideologies that are so different in the way they see economics and the market that it creates a war zone for political officials. This compromise must come quickly, if it doesn't and America defaults on its loans, get ready for the 2nd great depression. Millions more would lose their jobs and it would be years until a recovery would start to take place. It is time for those who represent us to do what is needed for their constituents so our economy can be fully utilized once more.
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