I watch the news relative to the debate on the debt ceiling with both awe and disgust. It is clear that the country will experience unprecedented financial harm without an increase in the debt ceiling very soon. Yet, the leadership in Congress and our President continue a debate tied to their political ideology and an effort to protect their political base and enable them to get re –elected. This in my opinion reflects a lack of true leadership.
The most recent televised speeches prove that they are still far apart and can’t get over their ideological differences. The Democrats won’t touch Medicare and Social Security, despite strong evidence to the fact that continued growth of entitlements will not be fundable long term. We cannot sustain borrowing 40% of our annual expenditures. The Republicans, on the other hand, won’t agree to tax increases even if they come in the form of closing loopholes that are generally considered unfair and not productive for the economy.
It is times like this when true leaders need to push aside their personal preferences and do what is good for the organization they are leading. In this case, it is our country who needs these leaders, our elected officials, to look long term and do what is best for the American people. It will require a compromise of their political beliefs, and they need to understand that neither the left nor the right is perfect in their thinking and while there is considerable value in the debate, the time is now to meet in the middle and remember… compromise is sometimes painful.