By Linda O’Keefe
So now that the Republican Party controls the House of Representatives, we can just go back to our busy lives and let them deal with the country’s problems.
Right? Not so fast.
In order to keep the federal government running, the debt ceiling must be raised because we cannot cover our costs. Will the newly-elected Republicans that are being sent to DC to cut spending, vote to raise the debt ceiling? If they listen to Republican Leadership, they may.
It was these very same Republican leaders that were raising the debt ceiling to cover their own out-control-spending earlier this decade. In fact, in 2004 it was Representative Ron Paul that warned of the pending doom resulting from the fiscal irresponsibility of the GOP.
Besides Congress, what is the Federal Reserve doing about our crippled economy? It is practicing its same quantitative easing that has yet to work. Think of it as a slow motion death spiral for the country’s economy. Believe it or not, this stuff has a direct impact on the dollar you have in your pocket. Also, those on social security and pensions will especially feel the squeeze.
Republicans are lucky to get a second chance to solve the very problems that they avoided under President George W. Bush. Do you really think they understand this?
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