Much blame has been put on one particular political party or movement on the recent debt ceiling debate breakdown which became the basis for Standard & Poor’s downgrade of U.S. debt. This conclusion seems overly simplistic.
Irrespective of the judgment of an agency that so badly botched the credit quality ratings of mortgage securities during the housing boom from 2004-2007, I believe it is time for American citizens to logically question whether either political party in this country has the expertise to truly enact common sense policies that can drive sustained economic growth. This in turn will expand the tax base and help reduce the federal deficit substantially over time.
The key question for America is do we want to become Europe, or do we want to keep the United States a vibrant economic power built on its history of self-reliance, innovation and determination?