U.S. Debt Crisis *SCARY THEME MUSIC*
 

Honestly, Americans only know as much about the details as we are given info. We hear catch words and catchphrases that are more meant to scare (media antics) than inform.

NPR reminded listeners that Mitch McConnell said (I paraphrase) "making Obama a one-term President is the single most important thing." This was the most important thing despite all else that's going on. When asked to clarify, he corrected himself. But, I firmly believe that people tend to say what they REALLY mean the first time around.

http://www.mediaite.com/tv/sen-mccon...olitical-goal/

rant/
Basically, they are more concerned with this political game and making sure that nothing works. It doesn't matter whether things could work, if what could work comes from the Obama aisle, it gets the GAS FACE. The folks on the Obama aisle also prefer not to give into the wishes of those on the other side of the aisle---although the Repubs are being blamed for this current hold. If these political bitches would get out of these damn aisles they'd see that they can combine efforts and combine suggestions. Geesh, I hate politics and politicians.
/rant

That's my vent. :) What say you, GCers?

http://money.cnn.com/news/specials/debt-crisis/

http://abcnews.go.com/Business/wireStory?id=14169551

http://www.bloomberg.com/news/2011-0...t-turmoil.html

It's hard for me to believe that there's not a real, grownup economist that can't fix this hot mess without mixing it up with the politicos.

I keep thinking about the movie Dave.

http://ia.media-imdb.com/images/M/MV...0,214,317_.jpg

Basically, this is a political fight. The Obama/Reid and Boehner plans are not that disperate at this point, from the analysis that I've read (and more than not, trust). The Republican plan is shorter in duration, requiring the president and congress to re-visit this "debt ceiling" issue again in the middle of next year's presidential campaign.

The Obama/Reid plan wants an agreement into 2013, past the 2012 presidential elections.

politics. as. usual.

Ah...the catastrophizing! I (had to) watch Meet the Press on Sunday...seriously the intro was more dramatic than those apocalypse movies! Come on...that's not helping.

All I wanted to do was get my Cory Booker fix between seasons of Brick City...those people were ruining my buzz!

I think the other difference is that Reid's plan does not touch any so called "entitlements" aka medicare and Social Secruity while Boehner's plan requires that the second vote on the Debt Ceiling, which would conveniently happen during election session would consist of over a trillion dollars for cuts from these entitlements and they would be decided by a panel.

Personally, I hate when bills like this are used by either side to further an ideological agenda. The debt has been growing for 10+ years and we are not going to be able to get it under control when both parties feel like they have a gun to their head. Pass the debt ceiling and work on the deficit slowly through appriopriate budgets, Also, work to lift the economy to increase tax revenue, draw down on Wars and then cut the defense budget and let the tax cuts expire and a lot will take care of itself.

But if a non-politician solved the problem, then we all would see that we don't need politicians, so they aren't about to let that happen. ;)

Wow...that's so reasonable. I don't know what your party affiliation is, but who cares. We don't have to (and can't!) fix the deficit tomorrow!

But then they won't be able to blame the other party and get POWER.

They are acting like two year olds. We know they aren't going to let the country go into default.

Found this little gem online, the numbers involved are just insane!

http://www.wtfnoway.com/

Bah, who cares! Just raise the debt ceiling already! :(

We've defaulted at least three times since 1900.

Time to default again.

How does defaulting benefit anyone?

At the best, it's a stupid show of power by the minority within the minority power. Like Pissing in the corner just to show you can. I mean's nothing and will not cause anything to be fixed any faster. It's symbolism of the worst kind.

At the worst, Credit and interest rates sky rocket and regular people, who have done nothing to deserve this display of arrogant posturing have their accounts and finances affected at a time when it is the least helpful.

Raise the debt ceiling, get the economy going and then worry about the deficit which is honestly, not that big of a deal. To start cutting programs and entitlements now is equivalent to being 3 years into your four year degree and dropping out rather than taking on another smaller loan. Yes you will have less money you owe in the long run, but you also have wasted 3 years investing in your future with now no pay off.

... which is connected to the OVER 100 TIMES the ceiling's been raised since then (including 17 during Reagan's 2 terms).

This is the definition of "Business As Usual", and the fact that it's turned into a massive pissing match is basically the reason why Americans should vomit at the current political climate. Trying to stake a political flag into this argument is as disingenuous as possible (for both sides).