While in the last stages of a recent job interview I had the chance to discuss Cloud Computing with some subject matter experts. It was like a breath of fresh air to talk to people about Enterprise Architecture (EA) and Service Oriented Architecture (SOA) for hours without beating back a sales pitch. As expected, the stalemate between the House and the Senate surfaced and my pleasant conversations came to an abrupt end. Back to reality, people in Washington must hammer out an agreement soon or else we could hit a few more deep potholes on the way to a true economic recovery.
Political & Economic Landscape
At the present time the Senate (100 members) is controlled by the Democrats and the House (435 members) is controlled by the Republicans. Each side has its own agenda, and each side is not willing to budge. In the midst of all this excitement, we should get a new Chairman of the Federal Reserve in Janet Yellen, which should help calm market fears because of her dovish stance towards monetary policy. The U.S. economy is expected to grow around 2% this year and the CPI should also mirror this number. Regarding interest rates, the 10 year treasury is trading in a range of 2.60% to 3.0%, which will help keep the housing recovery moving forward. Last but not least, the national unemployment rate is hovering around 7.3%, and the labor market continues to inch ahead at a slow pace.
The New York Giants & Budget Agreement
I grew-up near Meadowlands stadium in New Jersey and it will come as no surprise that I am a diehard Giants fan. They are a team with a proud and rich history, along with four NFL Super Bowl Championships under their belt. Unfortunately, their current record is 0-6, and Mr. Manning (Eli) is not having one of his better seasons. Caveat, they have many injured offensive linemen, which has hampered both the running and passing games. My gut feeling is that the stalemate in Washington will end when either the Giants win a game or when Mr. Manning (Eli) throws more touchdowns than interceptions in a game.
Presently, many in the press (e.g., TV, blogs, print, etc.) are bashing Washington without really understanding the true nature of the budget issue. I for one really cannot stand it when members of the press pile-on and blame Congress for doing a poor job. It is not easy running a country with a $17 trillion dollar GDP, and in all fairness, they are doing the best they can. In the end, we will be fine as country, but the New York Giants? That is another matter altogether.