Of Debt Ceilings and Big Spending

I'm not an economist. I'm not a politician.

But I am a cynical ex-reporter and this is how I think the debt ceiling/budget/spending debate is going to end.

There will be no deal by Tuesday.

We are going to default. I'm just about certain of it.

The Republicans, especially the tea party Republicans new in Congress this session, are willing to do whatever it takes to embarrass, read that "defeat," President Obama. Many of them aren't concerned about being re-elected. They are, essentially, political terrorists with one agenda. They aren't worried about a default which, by the way, could lead to an unprecedented financial crisis...potentially a new-age Depression. Why should they be?

Senators and Representatives make great salaries. They have terrific benefits that won't be affected by what happens to the rest of us.

No, it won't be a case of the stock market diving 500 points in one day and rebounding within weeks. The losses we will see may not be made up in our lifetime.

I don't lay it all on the Republicans. The President and the Democrats in Congress will do just about anything to avoid appearing politically weak. They don't want to accept any plan the Republicans put forth because it will look to the nation as though the Republicans have won. That would seriously undermine Obama's chances for re-election next year. Or so they believe. The President would prefer to see the nation in turmoil than to act as a strong leader, unconcerned about his own political future.

So Congress and the President are at stalemate. Congress is in the midst of a civil war. It is the ultimate in political brinksmanship.

This is the moment when our political leaders will either run and hide behind cheap rhetoric and let the country down, or work together as statesmen, ignoring their own selfish concerns to craft a plan that will work now and into the future.

At this time in our nation's history, I just don't think the powers-that-rule in Washington can put aside their internecine squabbles and compromise to serve the nation.

I hope, I pray, I am proven wrong.