I rarely agree with lib-pop-biz-observer Thomas Friedman, but he struck a chord in his op-ed “Can’t We Do This Right?” by saying:
There is only one thing worse than Republicans and Democrats failing to agree to lift the debt ceiling, and that is lifting the debt ceiling without a well-thought-out plan and with hasty cuts totaling trillions of dollars over a decade.
What business do you know — that is still in business — that would operate this way: making massive long-term cuts, negotiated by exhausted executives, without any strategic plan?
It certainly wouldn’t be a business you’d expect to thrive.
First, the obvious: There are virtually no people with serious business experience sitting in on the negotiations. And, the “CEO” has neither business experience nor apparent business instincts.
So, why would anybody expect the gov’t to run like a world-class business?
Following on to Friedman’s points, what well run business …
Operates with no budget? With no contingency Plan B’s?
(Note: Geithner said Sunday that there was no contingency plan … either there isn’t one or he’s a liar. Either way, we lose.)
Creates 10 year financial plans with all the savings materializing in the out years? (Note: well-run businesses might look out 5 years in op planning – longer for capital planning – but will stack the savings in the “in” years to make sure they happen.)
The reality is that none of these Washington jabrones would cut muster as a corporate CEO – with hard metrics and accountability.
As a CEO buddy once told me : “Given his resume, I couldn’t get Obama approved to sit on my Board”.
The Homa Files 