Both Sides Do It!!!

Congressional gridlock.

There were no signs from Congress or the White House of last-minute negotiations to resolve the standoff. Instead, Democrats and Republicans spent their energies trying to pin blame on the other side for failing to avoid a calamity.

If only there was some way to tell who was truly at fault.

Boehner and Reid have taken a low profile as the deadline draws closer, leaving on-camera appearances to deputies and often speaking through their press staffs.

Guess not then.

And if the battle over “Obamacare” pushes up to the mid-October deadline to raise the debt ceiling, U.S. stocks may suffer. When gridlock threatened a debt default in 2011, the Dow Jones industrials fell about 2,100 points from July 21 to August 9, with the market needing two more months to regain its footing.

“Gridlock” threatened stock prices. All by itself.

I hate gridlock! Someone repeal gridlock!

The last government shutdown ran from December 16, 1995, to January 6, 1996, and was the product of a budget battle between Democratic President Bill Clinton and Republicans, led by then-Speaker Newt Gingrich.

There’s that gridlock again. If only both sides would stop doing it.

A.

5 thoughts on “Both Sides Do It!!!

  1. MapleStreet says:

    Personally, the most outrageous proposal I have seen is to delay implementation of some parts by a year.
    Yeah, just so we can go through all this again next year.

    Like

  2. pansypoo says:

    the party wall street clings too. HA HA!

    Like

  3. Brooklyn Girl says:

    Just what we need when we’re coming out of a recession.
    And I don’t think Madison’s comment is relevant — of course, that could just be me —

    Like

  4. MapleStreet says:

    I had missed / forgotten that the Gingrich hostage crisis was Dec 16 to Jan 6.
    Those 3 weeks happened at a time (late December) which is typically a less productive time of the year. A lot of employees (incuding federal) take time off to travel and see family. Holidays for Christmas and New Years.
    While it certainly wasn’t a cakewalk for folks to not know if they were going to get paid or not (and certainly destroyed Christmas for most), by Dec 16th most folks have already finished their holiday shopping.
    THIS TIME: occurring at a time of the year which is one of the peak productivity times of the year. Close enough to holiday shopping times to get folks to pull back on their Thanksgiving shopping and Christmas Shopping (even if it ends in a month, there is the residual effects on consumer confidance)

    Like

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