Already the pundits predict a second major political meltdown when the Gang of 12 fails in their task to recommend the next major steps just as the holiday season descends on battle weary Americans who don’t seem to trust anyone on anything, especially when it comes to the economy and fiscal policy. A new CNN/Opinion Research Corporation survey finds broad support – as in 77 percent support – for the notion that Washington’s leaders “acted like spoiled children” in reaching the deal on debt and deficits. Trying to explain American politics to a British audience, historian Robert Dallek writes in the Daily Telegraph that, “something is at work here that makes you wonder if rational discourse is beyond the capacity of many American voters to understand”/Marc Johnson, The Johnson Post. More here.
Question: Describe the next financial crisis this country will face as a result of congressional/presidential squabbling?