Credit Rating and Debt Ceiling Standoff
Da Hua Ruan
U.S. efficacy on democracy
EWS 11-01
27 October, 2013
After the Civil War, Republicans in Congress enacted some of the most forward-looking legislation in American history, but they have made no progress recently. Republicans shut down the government and held national health care hostage. They aren’t raising the U.S. debt ceiling until they get what they want and thus shutting down the government. The shutdown cost us millions of dollars in revenue. Republicans are holding the government hostage to get what they want, but even they don’t know what they want (Hertzberg). The following paragraph will examine why United State function is not an efficacy democracy. Republicans had to get something out of negotiations to reopen the government even if they didn’t know what they wanted. They are being disrespected because it’s their attitude that they got. Republicans stop doing their jobs and they wanted something out of shutting the government. Americans want both parties to come to the table and reopen the government, tackle the nation’s debt crisis, and stop Obamacare’s pain. Americans don’t want Congress shutting down the government over nothing (Johnson). The shutdown of the government caused the U.S. ratings to drop. The U.S. debt ceiling has not been increased and it will increase the risk of a U.S. default. If the U.S. rating drops, it will also lower the value of the dollar since the dollar is based on FIAT which is the government’s words. The U.S. debt credit is on a rating watch negative and won’t be decided until march whether it is cut or not. The U.S. has an AAA credit rating which is the highest rating, but their debt ceiling standoff will not be tolerated due to their high rating. The U.S. debt ceiling needs to be increased in order to pay back its debt and pay their bills (Bases). President Obama and congressional leaders met and tried to negotiate but no agreements were made to raise the debt ceiling. The U.S. would only be
U.S. efficacy on democracy
EWS 11-01
27 October, 2013
After the Civil War, Republicans in Congress enacted some of the most forward-looking legislation in American history, but they have made no progress recently. Republicans shut down the government and held national health care hostage. They aren’t raising the U.S. debt ceiling until they get what they want and thus shutting down the government. The shutdown cost us millions of dollars in revenue. Republicans are holding the government hostage to get what they want, but even they don’t know what they want (Hertzberg). The following paragraph will examine why United State function is not an efficacy democracy. Republicans had to get something out of negotiations to reopen the government even if they didn’t know what they wanted. They are being disrespected because it’s their attitude that they got. Republicans stop doing their jobs and they wanted something out of shutting the government. Americans want both parties to come to the table and reopen the government, tackle the nation’s debt crisis, and stop Obamacare’s pain. Americans don’t want Congress shutting down the government over nothing (Johnson). The shutdown of the government caused the U.S. ratings to drop. The U.S. debt ceiling has not been increased and it will increase the risk of a U.S. default. If the U.S. rating drops, it will also lower the value of the dollar since the dollar is based on FIAT which is the government’s words. The U.S. debt credit is on a rating watch negative and won’t be decided until march whether it is cut or not. The U.S. has an AAA credit rating which is the highest rating, but their debt ceiling standoff will not be tolerated due to their high rating. The U.S. debt ceiling needs to be increased in order to pay back its debt and pay their bills (Bases). President Obama and congressional leaders met and tried to negotiate but no agreements were made to raise the debt ceiling. The U.S. would only be
Cited: Hendrik Hertzberg, “Impeach Obama!” The New Yorker. Conde Nast Digital, 21 October, 2013. Web. 18 October, 2013. Brian Beutler, “GOP’s absurd final whimper: It’s all over but the crying” 2013 Salon Media Group. Inc. Salon, 1 November, 2013. Web. 16 October, 2013 Daniel Bases, “Fitch Ratings warned on Tuesday it could cut the sovereign credit rating of the United States from AAA, citing the political brinkmanship over raising the deferral debt ceiling.” New York. Reuters, 1 November, 2013. Web. 16 October, 2013.