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The Leader of Republicans in the House of Representatives teamed up with the President and competed with the Vice President and another leader from the Republican Party in a recent game of golf. This game has huge implications for the financial security of the nation.
If the Republican and Democrat impasse related to the budget is not settled soon, the government may be forced to default on its expenses. This is not the first time that the President has threatened to declare a financial emergency due to the non-passage of the budget in the Congress and Senate.
Things came very close to a meltdown a few weeks ago but was averted and a simmering peace was temporarily reached. However, the issue of deficit and the extra loan that the President is seeking to run the government does not show any signs of resolving. The Republicans argue that it is high time the President pulled back on wasteful government expenditure to reduce the deficit. They are refusing to clear the budget unless these points are agreed to.
The Democrats point out that the governmental expenditure is important because the economy is not out of the recession yet. The prospect of immediate financial collapse is far more worrying than the prospect of future deficit.
Both sides have their points in favor and against the topic. In such a scenario, the actual decision is based on politics and not on logic. The side that wins will invariably point out how they have been right all along while the side that loses will warn of grave consequences in the future.
