The US Congress�™s latest attempt at crafting a budget plan for 2014 is on track to end up the same way as others have in the past decade, with little or no agreement.
According to Bloomberg, there is little chance that Congressional negotiators can break this pattern of uselessness, even after a 16-day government shutdown in October that cost the US economy $24 billion.
Now budget experts, labor unions and business groups are saying enough�™s enough, and questioning why US lawmakers can�™t live within their means the way ordinary Americans do and instead lurch from one budget standoff to the next.
�œIt�™s a stupid way to run a country,” Maya MacGuineas, head of the Campaign to Fix the Debt, said as reported by Bloomberg.
�œThe uncertainty has a chilling effect on job creators, households and anybody who�™s trying to see around a corner,” said MacGuineas, who is also president of the Committee for a Responsible Federal Budget, a fiscal advocacy group.
From October 1 through 16, 2013, the federal government entered a shutdown and curtailed most routine operations after Congress failed to enact legislation appropriating funds for fiscal year 2014.
On October 16, Congress passed a temporary spending bill to end the partial shutdown and fund the government until January 15 at sequestration levels and suspend the debt limit until February 7.
Businesses are growing frustrated with Washington�™s inability to bridge its differences, saying congressional lawmakers�™ habit of governing by crisis and temporary spending bills is hurting the economy and costing jobs.
�œUncertainty holds back growth and investment,” Dorothy Coleman, vice president of tax and domestic economic policy at the National Association of Manufacturers in Washington, said in an emailed statement, urging Congress and the administration to work for policies to provide stable growth.
�œGiven the divisions between the parties and our experience over the last three years, it�™s difficult to be optimistic,” Dan Stohr, a spokesman for the Aerospace Industries Association, said in an email.
�œWe cannot keep lurching from crisis to crisis,” Stohr said. �œIt�™s having a very detrimental effect on investments” for the trade group�™s members, including layoffs and less money for research and development, that prevents businesses from being able to plan ahead.
AHT/ARA
Source: Press TV