Road to nowhere
Here's Charles Krauthammer talking about the Obama-GOP debt "summit":
The president has chartered a course of remarkable cynicism in the way he attacked the Republican plan and presented none of his own. He hasn’t offered anything. And the Senate, for example, hasn’t even offered a budget - which is required to do by law. The Democrats are placing a bet on cynicism. They might win the election on that.Businesses and the markets hate uncertainty and yet this is the modus operandi of the Obama Administration. There's been no budget from House Democrats, which sparked the drawn-out "continuing resolutions" of early 2011. There's been no budget from the Senate Democrats for 762 days, in violation of the law. And there's no budget from the President who is a thousand times more concerned with re-election than he is with dealing with the nation's problems.
Here's the cold fact: Medicare will go bust in 2024 and that's assuming that Congress will not pass the "doc fix" to cut payments to doctors; otherwise Medicare is broke in 2016, only five years away. Social Security goes belly up in 25 years. And by "broke" I mean the programs - by law - can only pay out what's coming in from payroll taxes meaning that either benefits will need to be slashed and/or taxes will go way up. Cold fact #2: only one political party seems willing to face up this reality, while the other wants to demagogue these entitlements into their respective graves.
More - As in more uncertainty.