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So yesterday I learned a lot. I am still getting my mind wrapped around how massive this financial crisis is. The movie that was shown Inside Job was very good at bringing that into perspective.
Correction: The Guy who owns the ambassador Bridge in Detroit is Manuel "Matty" Moroun. Not Monahan. That’s the name of a family owned construction company here in Detroit.
Here is my post for the day: 6-Apr-11
Read this Post from the New York Times about what will happen to state budgets if the federal government shuts down due to not agreeing on a budget.
http://www.nytimes.com/2011/04/06/us/06states.html?smid=tw-nytimes&seid=auto
What I am seeing is that halfway through the year we are still arguing about how to trim the budget and that not agreeing could cause a short shut down of the federal government halting a lot of transactions. This shut down impacts a lot of businesses and everyday things like payroll of federal employees, hours kept, businesses able to do business. Thus the shutdown will cost a lot more money than if we just agreed.
What impact do you think will occur? What is your opinion on this potential shutdown? Do you agree that arguing about such a small portion of the budget is worth shutting the government down for some time? Here is a quote from this article:
http://www.nytimes.com/2011/04/06/us/politics/06budget.html?ref=us
“Mr. Obama said he was looking forward to the clash of ideologies over the budget and said part of his mounting frustration regarding the current budget fight was that it dealt with just a fraction of federal spending and was coming when the fiscal year was already half over.”
Here also is an article from The Wall Street Journal that tells us what parts of the government would be shutdown exactly if this happened based on evidence from the 1995 shutdown.
http://blogs.wsj.com/washwire/2011/04/06/government-shutdown-what-to-expect/
I personally think that this is ridiculous and that we should just strike a deal so that things can stay open and people will be employed. I think that a lot of the parts of the government that are getting shutdown are related to everyday tasks but also bring in slight revenues and keep people active and employed.
If you believe that all government activity is inefficient, then a government shutdown will reallocate resources to the more efficient private sector. Hence, shut it down. What more can we say?
ReplyDeleteTo me, this seems like a lot of fuss over nothing. People are hyping this up for no reason. The government will come to a decision soon enough, they have too. As McKinney said, shut it down for a while, its not like those jobs or people are going anywhere, except planned parenthood :(
ReplyDeleteActually, a government shutdown is pretty horrendous. But it may help some people differentiate between theory and reality.
ReplyDelete