Revamped House bill requires BBA to be sent to states for second debt ceiling increase. Sources in the room tell me they have the votes. 10 minutes ago via Twitter for BlackBerry®
Yeah, right. Let's see the fine print.
Good news. Looks like Boehner bill will now include BBA. Now it cuts, it caps, it balances. If so, I'm for it. 13 minutes ago via web
I’d rather have cuts than BBA, but whatever.
I bet Boehner would like to lock the Senate RINOs and House Tea Party members in a sound proof room and come back in 4 hours and just do what the survivor(s) say(s).
Imagine trying to negotiate something Jordan and Snowe would agree on!
It is better for Repubs to pop the bubble now, and start the collapse.
Otherwise... the collapse will come AFTER the next President is elected. There will be no saving the economy at that point - the same as now - without drastic reductions in government regulations. Almost impossible - since politicians are idiots about what rules to keep, what to get rid of.
And with the extra 2 to 4 trillion of debt that WILL accumulate between now and January 2013, there will be no way to sell Treasuries to anyone. The government will lose all ability to borrow soon.
This Federal debt bubble must be burst NOW, on the Democrats watch.
They (and the big cheerleader media) keep ranting about how they will pin it on Repubs - that is horsepucky.
Voters will want a change in fall of 2012 if we have a collapse NOW.
If voters’ lives are basically the same in fall of 2012 - THEN DEMOCRATS STAND A CHANCE OF BEING RE-ELECTED because they can lie like a rug and many will believe what they say. But if things get REAL bad between now and then, the Tea Party will sweep 2012 elections big time - AND have the mandate to hack government down to a smaller size.
Which will give ENORMOUS confidence to the markets as far as buying U.S. Treasuries. The old-school Repubs and Dems will be seen by the public as they problem that they are, as freshman Congressman who could have tons of clout can really clean house legislatively.
IMHO...