If you thought private sector hiring was slow or anemic before the debt limit and subsequent credit rating downgrade, force the across-the-board spending cuts upon this country and see just how bad things can get! I would urge folks to watch again the press conference former President Bush gave on September 24, 2008 at the height of the economic crisis. He informed us that our nation faced a "serious financial crisis," warned that "our entire economy is in danger," cautioned that "these are not normal circumstances," and made it clear that "the federal government was the one institution with the resources to buy toxic assets and hold them until the markets stabalized". He also urged Congress to work together in solving the nation's economic problems. And yet, what has Congress done since then?
One side has pushed for large deficit reductions w/some revenue in order to keep the government working and pay down its debts faster while the other has blocked every initiative that includes raising revenue.
One side has been accused of trying to "rob from the rich to pay the poor" while the other points out what the public already knows - that the rich have been getting richer for decades while the poor and middle-class have gotten poorer.
If Republicans in Congress continues to see things strictly from only their own partisan point of view, things will get progressively worse in this country and they will likely see themselves voted out of office in the coming elections.