Kerri Shannon
Kerri'S LATEST HEADLINES
-
The Debt-Ceiling Debacle: Another Way Politicians Could Ruin America
John Powell is worried – perhaps even scared.
Powell has watched the whole debt-ceiling debacle unfold down in Washington. He knows that our elected officials literally hold this country's future in their hands. He also knows that our leaders love nothing more than to squander opportunities and currently are poised to foul up our economy even more than it already is.
"Darn right I'm worried," Powell, a Money Morning reader, told us in an e-mail. "It's unbelievable. In 64 years I have never seen Washington so dysfunctional."
In response to some bleak USA Today/Gallup Poll results last week, we asked you, our loyal readers, to tell us how you think Washington has done with the debt-ceiling debacle. Most of you came to the same frightening conclusion: Our politicians' selfish antics have jeopardized our future.
Take Powell, who told us that he feels Washington's political posturing and brinksmanship has been a hindrance to the U.S. economy. But here's what really troubles him: He believes that with the way the system and our leaders currently function, none of this is fixable.
"Politicians are decimating the middle class and creating a new class of poor, banks and corporations are sucking the life out of the economy, and there's 9.2% unemployment – plus those whose benefits have run out – and Washington isn't doing anything to change this," wrote Powell.
Powell isn't alone.
The USA Today/Gallup poll showed that four in 10 of those surveyed thought Washington's job on the debt-ceiling debacle was the worst they've ever seen in their lifetimes.
Two-thirds of respondents said elected leaders in Congress were putting their own political interests ahead of the country's interests – leaving U.S. taxpayers to suffer.
To continue reading, click here...
- Second-Quarter Earnings Prove "Glocal" Companies are the Best Investments
- Don't Miss the Chance to Profit from the Silver Price Rebound
- Money Morning's "Deadbeat States" Warning Hits Fed's Radar
- Don't Miss Your Chance to Profit from the Best Coal Stocks
- Beware, Taxpayers: The Days of U.S. Bank Bailouts Might Not Be Over
- June's Abysmal Jobs Report is Just the Beginning
- Netflix Inc. (Nasdaq: NFLX)Chases Hot Profits in Latin America
- Special Report: What is the Greek Debt Crisis, and What Does it Mean for Investors?
- Why the New IMF Chief Will Cost U.S. Taxpayers Billions