https://stevenfeinberg.com/wp-content/uploads/2014/06/post-generic.jpg 230 240 Steven Feinberg /wp-content/uploads/2015/02/feinberg-final-logo.png Steven Feinberg2014-06-09 03:16:412016-03-18 03:16:23Leadership default creates uncertainty
Everyone, right, left, middle and overseas is upset with the political leadership of the USA.
The Debt ceiling game has placed our country, and the world, on the precipice of economic calamity.
For what? A principled stand perhaps.
Or a misguided notion of what the debt and debt ceiling represents?
The debt represents money already spent in the past.
We don’t and shouldn’t have to vote for it again.
The US pays its debts.
To not pay would be bankrupt – not only financially but more importantly who we are.
We fulfill our financial obligations
The full faith and credit of the USA should not be put dangled as a political chip.
It’s irresponsible and has already lost tens perhaps hundreds of billions and delayed job creation.
Dealing with the deficit and spend should be addressed but this 11th hour game on the
debt ceiling is dangerous. Holding the credit worthiness of our nation like a hostage
is bad politics and inept leadership. Uncertainty drives fear and contraction.
This is not about leadership style or bipartisan leadership.
It’s about structures – the forces that drive behavior –
like requiring a vote to raise the debt ceiling when its already been voted upon
when the spending program was initially approved. This is
crazy making and leads to brinkmanship.
The system’s rules produce the disadvantage in the negotiation.
Leaders have defaulted on structuring for success, instead we have
structures that produce uncertainty.
The role of government is obviously debated, hotly at times, and this is one of those times.
If companies are not going to invest in job creation, then government has a role.
The really important advantage-making opportunity is putting the good people of America
to work. Finding core industries and investing in them. Setting up policies to create jobs
here in the USA. Public and Private working together. This is the free enterprise system that
works in the United States. Like the successes of NASA and
the transcontinental highway system etc.
What we have in this country is a jobs deficit.
Create demand and the country will be fine.
Consumers drive 65% of the demand.
This requires investment by both private and public entities.
Austerity does not create jobs.
Jops will beget more demand which will beget more jobs.
Let the begetting begin!
Divided government has undermined job growth rather than thwarted political overreaching.
Leadership around job growth is now the order of the day.
I trust President Obama will turn his attention to Job 1.
I hope the Congress will move on this ASAP.