Is Congress Doing Its Job?
It is no secret that Congress is currently very polarized and seemingly unable to do much in a truly bipartisan manner. But Congress is made up of politicians, and in the words of Otto von Bismarck, “politics is the art of the possible, the attainable – the art of the next best.”
Political polarization is not new, but over the last decade, seems to have given rise to an increase in governance through executive orders and the decisions of unelected bureaucrats, which do not have the durability of legislation. This can present real problems for corporate managers and, eventually, for investors.
Businesses need reasonable levels of continuity in order to intelligently support long term-investment strategies. Investors, looking to make portfolio decisions based on long-term growth opportunities, also need regulatory visibility.
All comments and suggestions are welcome.
Walter J. Kirchberger, CFA