Posted on 07/14/2011 2:11:41 AM PDT by tobyhill
Amid new warnings and fresh signs of strain, President Barack Obama and congressional leaders are entering a perilous debt-limit endgame. The president, declaring "enough is enough," is demanding that budget negotiators find common ground by week's end even as the Senate's top Republican gained followers for his own last-ditch scheme to avoid a government default.
The continuing impasse was unsettling Wall Street, which up to now had performed as if an increase in the debt ceiling was not in doubt. And the looming Aug. 2 cutoff for action was creating new tensions between the president and Republican leaders.
Moody's Investors Service said Wednesday it will review the government's credit rating, noting there is a small but rising risk that the government will default on its debt. If Moody's were to lower the ratings, the consequences would ripple through the economy, pushing up rates for mortgages, car loans and other debts. A Chinese rating agency, Dagong Global Credit Rating Co., also warned of a possible downgrade.
Federal Reserve Chairman Ben Bernanke, addressing lawmakers, warned Wednesday that not increasing the nation's debt ceiling and allowing the nation default on its debt would send "shock waves through the entire financial system."
And in the cauldron of the White House Cabinet Room, Obama and top lawmakers bargained for nearly two hours Wednesday on spending cuts. Obama curtly ended the session when House Majority Leader Eric Cantor, R-Va., urged Obama to accept a short, monthslong increase in debt instead of one that would last through next year's presidential election.
"Enough is enough. ... I'll see you all tomorrow," Obama said, rising from the negotiating table and leaving the room, according to several officials familiar with the session.
(Excerpt) Read more at npr.org ...
“I’ll see you all tomorrow,” Obama said, rising from the negotiating table and leaving the room”
And the king dispatches his disloyal serfs.
“I’ll see you all tomorrow,” Obama said, rising from the negotiating table and leaving the room”
And the king dispatches his disloyal serfs.
“I’ll see you all tomorrow,” Obama said, rising from the negotiating table and leaving the room”
And the king dispatches his disloyal serfs.
The clueless Marxist belongs on the golf course.
He wants the issue, not the only viable solution.
It’s his mess. Let him spit into the wind.
It wouldn't take too much to push him into publicly pitching a hissy fit of historic proportions.
While it wouldn't be of much gain to the country, at least it would *finally* convince a few of his butt-toads what they put in office (plus it would make GREAT youtube fare).
If only the conservatives hold the line instead of wringing their hands over what the mean old libs will say about them.
No it wouldn't and it would show all the emperor has no clothes. I wonder if that is Boehner and Cantor's game....
I can’t say what I would like to say.
We are supposed to care about Wall St? I dont and I dont care about the Marxist in the White Hut either,this was all predicted,this A-hole was elected by the American People and Now the American people must suffer.
Elections have consequences,now deal with the Chaos,Rememeber the Movie Dark Knight and the Joker? That photo of Obama is appropriate,let the Chaos begin,we have earned it
What happens when a petulant lad, used to getting his own way, finally faces a situation where it is not possible for him to get his own way? Obama's way, to continue spending trillions of dollars, cannot continue.
Do the Democrats understand what is at stake? Or, as with other failed socialist governments, the leaders continue spending until the economy collapses?
“I’ll see you all tomorrow,” Obama said, rising from the negotiating table and leaving the room”
The rest of the story not told was that crybaby mac, the liar, daddy then threw himself on the floor, in a fine display of a child’s temper outburst, kicking his feet and wailing that he wanted what he wanted or he was going to take his toys and go home.
What’s his next great idea hold his breath until he get a free pass to barrow and spend?.
He gives idiots a bad name.
America, we don't need this punk in the oval office.
Cry me a river, nobama, you sniveling anti-Free-America poseur.
Here is the opportunity. If there is no deal on the table by august 2, every republican campaign ad through election will be, under Obama the greatest country ever defaulted on it’s debt.
And that’s what he is afraid of. Because that, the media cannot hide and cannot blame on others.
this is race baiting,& pathetic , since it shows how unstable he is, as most powerful man in world
“Would Ronald Reagan be sitting here?”.. as few months ago he whined “ they talk about me like im a dog “
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