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Letter: Debt ceiling problem leads to financial turmoil

Editor, Gazette-Journal:

Why the fall-off in job creation? Sunday’s pundits postulated everything from ObamaCare, to the weakening economy to the rise in oil prices. Maybe, but I believe that the reason is more fundamental: employers are uncertain and apprehensive as the debt ceiling problem falls due.

Standard & Poor’s didn’t talk of lowering the U.S. credit rating because of a weak economy, but rather because they could see no resolution coming out of the present Congress. More and more it appears that they were spot on. Like the Barbary pirates, the members see themselves as having a hostage and they even have the hubris to openly declare that they are going to get everything they can in ransom.

I’m terribly afraid that the end result is going to be a period of financial turmoil running, as S&P predicts, through the next election.

One hires more people, not because they have the resources to do so, but because they need more people to provid...

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