Economic situation feels like a bad movie

Posted on August 12, 2011 by Alex Roman - Also by this author

When I think of the economic situation this country is in, I can't help but to feel like Michael Corleone in "Godfather III" when he says, "Just when I thought I was out...they pull me back in!"

Remember, it was just some months ago when we as a country started to finally see some light at the end of the tunnel after a difficult recession, but now there is the debt ceiling fight and the possibility of what some economists call a "double dip" recession.

Added to all this economic turmoil is the most divided Congress many could historically recall, with both parties collectively deciding to not work together, and instead, jockey for position for what will be an insane 2012 election.

The biggest hostage of this whole process, besides American lives, though, is the public transportation industry, which continues to work without an authorization bill and is very close to seeing its main funding mechanism run out. If Congress can't figure out issues like keeping the country from grave economic harm for us all, it doesn't seem likely that a simple solution for funding a bill is just down the road.

Remember, while Sen. Barbara Boxer (D-CA) and Rep. John L. Mica (R-FL) are hopeful to have their respective bills go through markup sometime in the next two months, there has not been a new funding mechanism found or even mentioned for that matter. This will make it difficult to get a bill done, let alone our worsening financial crisis, which is bound to shrink transportation's piece of the pie.

So I'm wondering, is anybody still hopeful a solution to fund an authorization bill will be reached soon? Or like in "Godfather III," is the whole situation out of whack?

In case you missed it...

Read our METRO blog, "'Car-crazed' L.A. welcoming transit, sustainability"  here.

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