Dropped credit ratings, stale job growth and political bickering. What does it mean for jobs, and the economy, in the Lower Hudson Valley? We’ll seek answers during an Editorial Board discussion on the economy in the Lower Hudson Valley at 2 p.m. Thursday LIVE on LoHud.com. A panel of stakeholders will weigh in on where we are, and where we’re going, as the economy heads down a bumpy road. Join us at www.LoHud.com/ editorialspotlight, and add your voice by using the CoverItLive feature to ask questions and make comments.
Today, the Editorial Board comments on the economic gyrations that impact the U.S. and beyond. In the editorial, “Markets pay price for U.S. dysfunction,” the Editorial Board writes:
Because “compromise” and “cooperation” are such poisonous words in Washington, no one knows where the crisis will lead. The answers have implications for our wallets, investment accounts, local school and government budgets, and state pension funds.
Columnist Phil Reisman, too, weighs in. His column, “What we need is a financial czar,” says:
The S&P downgrade has only added more kindling to the raging economic inferno that is burning down the American house. …
I’m beginning to think martial law should be declared on the financial front. It’s a fantasy, I know, but maybe we need some kind of a financial czar to make the tough, painful decisions that no one in elective office is capable of making.
The Editorial Board, along with the nation, also honors the brave fallen and remembers the cost of war, with a record loss of 30 U.S. service members in a helicopter crash over the weekend in Afghanistan. We said:
Around the nation, from nearby Stamford to Hawaii, families learned that their loved ones had paid the ultimate sacrifice. More than one recalled brave men, “gentle warriors” dedicated to their country, and their duty.