"Federal Reserve Chairman Ben S. Bernanke told the House Financial Services Committee yesterday that failure to raise the debt limit would lead to a “huge financial calamity” that could add to unemployment. Unless the debt ceiling is raised, he said, the economy could be in greater peril than when Lehman Brothers Holdings Inc. went bankrupt in September 2008."
I'll take fearmongering for $400, Alex.
I see why McConnell wanted to throw in the towel. Down article he mentioned his fear that Obama could win the PR effort and pin the economy ownership on the republicans.
B) If I HAD to go and put up with it, I for sure would bring my own food and water.
Camp David with Obama in a Bad Mood.
Yikes. What a weekend.
Spending at level of 25% of the GDP is just another sign of a big government overextending itself, like Gov Dayton, he is not prepared to deal with a shut down, but ultimately that’s where he is headed whether he wins tax increases or not.
The Joe Walsh “Quit Lying” thread. I like this guy.
http://www.freerepublic.com/focus/f-news/2748241/posts
WTH have you guys been doing up there since 2008? Playing golf or basketball all day?
Really, I mean come on now. Where is the leadership?
Oh yeah...we need to eat our peas...
No now really, what is happening is the slow unwinding to the bottom. Soon, very soon...there is going to be the final abrupt stop. I figured about thirty days after they missed that funky payment a few weeks ago.
Those nice charts floating around showing incoming revenue and our ability to pay...well they're not real, they're just an abirition on the books for public eyes. Those entries are just as fake as the entries on the ledger of the Enron Empire. And every politician on the Hill knows it.
You see way back about 20 or so years ago, we went bankrupt as a country. Since then we've been living on borrowed money, borrowed time, and building the ponzi pyramid on the back of the US Dollar. All these debt negotiations? To a degree they are smoke and mirrors to hide from us or figure out how to hide from us this scheme. We've known for a longtime about the pyramid of Social Security, but what we failed to 'see' due to our own denial...is the pyramid must have a wide base.
In 2008, the housing crisis gave us a warning of worse things to come. We saw the next layer in the ponzi scheme being Fannie Mae and FreddiMac. And yet ...we still denied the truth unraveling before our very eyes.
The ponzi scheme and asset default covering began in earnest with stimulus, quantitative easing, and bail-outs. Now the stakeholders were told some of the money of the bail-outs was repaid. Yet, when the books were checked...billions was still outstanding. Much was written off on the sale of downgraded assets to foreign industrial complexes. In some cases we even legislated them billions of dollars in other deals that quietly slipped through congress, too take this stuff off our hands.
The election of 2010 brought 84 new members of congress to the Hill. Those new members got there and now know the depth of our country's negligence and abuse. I see they are written up in the media this morning...fingers pointing at them ...for they are demanding accountability. May we see them turn the tables and bring the looters of our nation's wealth and prosperity to an appropriate form of "social justice."
0bama wants to get the Republican leadership away from Paul Ryan and the Tea Party. He figures that if he can do so he will dazzle Cantor and Boehner with a lot of smoke and mirros. Boehner should only agree to go to Camp David if he can bring his entire leadership team and the Tea Party Caucus with him. That will probably cause 0bama to re-think the whole Camp David idea.
But what if Hussien walks out?
Clever strategy...complete isolation and insulation from the outside.
Republican lawmakers should refuse to go into his bunker.
Go into the Obama fascist trap? Right. He likely has the entire conference center rigged with explosives.
Obama is a fascist. And he will not hesitate to use whatever means necessary to seize absolute power.
http://www.americanthinker.com/2009/05/barack_obama_the_quintessentia_1.html
Its time for Adult Supervision to enter the situation from the WH so the American People do not have to live thru the an Economic Nuclear Winter that has been created by 0bama’s Entitlement Utopia.
He has overspent the resources of the Federal Government and the Economy can't sustain the hit of huge new Taxes that would only accomplish a short incremental stay of execution for our Overspending.
If Boner had the cajones he and Ryan should preempt Princess Thin Skin with a presentation to the American People (A Speakers’ Fireside Chat or whatever?) and take their message unfiltered to the public. Then end it with “we are waiting for the President to give us his list of Spending Cuts so this default can be avoided.
El Presidente for Life (the American version) would literally soil himself with rage.
But going to Camp Davis is walking right into his lead and would be a trap and a pure waste of time. He already walked out and threatened the GOP.
It time to drop the gloves, forget the negotiation BS.
The big problem is - our leaders in the House and Senate are stupid and cowardly enough to go... Go to a place where the media will be kept at bay... Good Grief I hope McConnell and Boehner, ET AL... find some Cojones and don’t go...
Man, I wish TRUMP were in there representing our side! Not these pantie-waist idiots and fools.
5.56mm
PR. Building up a case that the Republicans are the recalcitrant ones. He loves to get people in these damned-if-you-do-damned-if-you-don’t positions.
R congressman Joe Walsh calls Obama a liar:
http://chicago.cbslocal.com/2011/07/13/rep-walsh-tells-obama-quit-lying-about-debt-ceiling/
Sort of like a visit to Berchtesgaden..