Posted on 07/24/2011 5:03:20 AM PDT by lbryce
We're now less than 14 hours away from the opening bell in Japan, a point by which John Boehner wanted to have a plan that he could announce for a House vote on the debt ceiling.
No such plan is in place, as the Democrats last night rejected the GOP's latest offer of a "two-step" solution that would see one vote now, and another vote later on a series of recommendations from a fiscal commission.
Bear in mind, that neither Obama or Boehner would necessarily mind the market tanking on Monday (in Japan or the US for that matter) as that would likely bring about the urgency and sense of crisis needed for a deal.
The world is watching in horror as the US gets closer and closer to economic self-immolation...
(Excerpt) Read more at businessinsider.com ...
Wrong, socialism has brought us to this pass.
You said it.
The stock markets move up on rumor and sell on the fact. The fundamental values are still there.
I’m not saying this is nothing, but call me a skeptic when it comes to all of that ‘woe be to us, the end is nigh!” stuff, my man.
It will be interesting to see what we’re going to do if we flatline this way. How will Obama pay for his programs when he says checks can’t even go out to social security recipients?
I have a feeling it’s occurring to him that he’s put himself in what could possibly be the worst self-made trap any president has, ever.
We have to step back, away from the head-butting, the hastily-called news conferences, the oh-so-perfectly-angled comments about who’s to blame. On some things, you simply can’t control what people think: No matter that he had Congressional support, no one says Iraq was a war the dems helped us get into, it was Bush’s war. Today, who the heck could say offhand what congress gave or didn’t give FDR, he presided during WW2.
If this all falls apart, a week from now Obama’s ratings are going to drop, and they will never regain. Because HE presided over this.
Not Boehner. Not the Gang of Six. It’ll be, “We defaulted under Obama.”
Yes, horror because the gravy train could stop if spending actually gets cut instead of the usual inside the Beltway cut which is to add inflation to last year's budget and then trim the increase beyond that by .05% for a deep cut, 1% for a devastating cut and 3% for a draconian cut.
How true.
This is all cr*p.
Cut spending in every single federal line item by exactly 10%.
All of it. Every department. Every budget. No excuses.
Just do it. Then ALL of this would be unnecessary.
STOP SPENDING.
Ya got that right. Let the rest of the world go talk to China for their cash.
Won’t happen.
Oh and BTW IBTZ.
Stop spending. Stop stealing so much money from us. Stop spending.
This has nothing to do with capitalism. This is the government's doing. Did you land here by mistake?
The Sky is falling!!! The Sky is Falling! Tell Grandma and Grandpa to run for their lives!!! Oh and this teeny tiny tax MUST be enacted, but don’t mind that, cause The Sky is falling!!
>>Stop spending. Stop stealing so much money from us. Stop spending.<<
Amen, amen and AMEN!
If I had debt to the point of not being to pay the bills, could I get an extension of credit??? Would I keep a perfect credit score, if my debt limit got increased past my earning potential???
Talk about hype, hell 99% of the world could care less. Damn!!!!!
You forgot that women, children, minorities, and cute puppies will be hurt worse.
Let me get this straight. Boehner and company want to save $1 trillion over a set period of time. It keeps changing so I am not sure anymore BUT we are SPENDING $1.5 trillion more than we take in EVERY YEAR! What the “hell” is that going to accomplish? It’s all smoke and mirrors. None of these elected officials have the (balls) to really stand up and say...NO MORE SPENDING OVER WHAT WE TAKE IN!! I am totally disgusted with WASHINGTON! If the world falls apart tomorrow, it falls apart. Here’s the thing...this is going to HAPPEN eventually only the longer we wait, the worse it’s going to be. Might as well feel the pain NOW!
Why would the world watch in horror as some adults take charge of America's debt problems?
Is the "horror" really about America being on the verge of proving definitively to all - socialism is a massive failure everywhere in the world?
Raising a country's debt ceiling is not a responsible act without combining it with significant spending cuts.
The entire world knows it.
This is the entire problem in Greece. Austerity is not an option anymore. It is an imperative.
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