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I am much more concerned with the legislative gridlock than I am afraid of the results of any Congressional agreement.
The US Congress, however, needs a housecleaning… Either the President or the People need to insist that there needs to be forceful deadlines that have some teeth. If a ‘super committee’ cannot come to an agreement, then they should not be allowed to continue in Congress. We have moved for term limits, let’s go for expulsion or for a penalty censures committee members with a black mark that *ends* their political career.
The pain of legislative failure must outweigh the political reward of legislative failure… At this point I am more afraid of ‘no decision’ than I am of any compromise between them… If they cannot agree, fire them all and start again…
Personally, I believe that the interest difference between AAA and AA+… is due to Congress’ malfeasance. I suggest we take the difference out of their pay for as long as it takes [let’s see… $100 billion / (535 Congressmen/women * $200K/year) = 935 years]… that means we will have a volunteer congress til almost the 31st century… Maybe we should ‘clawback’ their pensions too… that’s a good start. Let’s let them feel the pain resulting from their fiddling.