Keyword: debtceiling

Brevity: Headers | « Text »
  • Liberals outline stimulus agenda in 'Contract for the American Dream'

    08/09/2011 9:22:06 AM PDT · by Sub-Driver · 55 replies
    Liberals outline stimulus agenda in 'Contract for the American Dream' By Erik Wasson - 08/09/11 10:57 AM ET Liberal organizations and unions are frustrated that President Obama has not aggressively pushed a new jobs stimulus agenda and they are offering up a consolidated fall agenda for Democrats to embrace as an alternative to austerity. Representatives of MoveOn, Rebuild the Dream and the Center for Economic Policy and Research will join Rep. Jan Schakowsky (D-Ill.) on Tuesday to launch a progressive “Contract for the American Dream” to urge the administration and Congress to turn away from budget cutting and focus on...
  • Palin raps Obama for debt downgrade

    08/08/2011 9:45:08 PM PDT · by 2ndDivisionVet · 73 replies
    The Washington Post ^ | August 8, 2011 | Rachel Van Dongen
    In a 2,300-word posting on Facebook about Standard & Poor’s downgrade of the U.S. government’s credit rating, Sarah Palin said Monday that she had warned of the danger of federal overspending, adding that President Obama “doesn’t have a plan” or “even a notion of how to deal” with the fiscal issues facing the country. “Be wary of the efforts President Obama makes to ‘fix’ the debt problem. The more he tries to ‘fix’ things, the worse they get because his ‘solutions’ always involve spending more, taxing more, growing government, and increasing debt,” Palin wrote. “His press conference today was just...
  • Rasmussen Consumer Index: Consumer Confidence Falls After Credit Downgrade (70% -- economy worse)

    08/08/2011 6:08:23 AM PDT · by markomalley · 11 replies
    Rasmussen Reports ^ | Monday, August 08, 2011
    The Rasmussen Consumer Index, which measures the economic confidence of consumers on a daily basis, fell another point on Monday. At 61.5, consumer confidence is down three points since Standard & Poor’s downgraded the federal government’s credit rating. Seventy percent (70%) now believe that the economy is getting worse. That’s up from 45% at the beginning of 2011. Data for these updates is derived from a series of nightly telephone interviews and reported on a three-day rolling average basis. As a result, today’s update includes two days of data collection after Standard & Poor’s announced their decision to downgrade the...
  • S&P fallout: Fannie and Freddie downgraded

    08/08/2011 7:50:32 AM PDT · by STARWISE · 73 replies
    CNN Money ^ | 8-8-11 | Charles Riley
    Credit rating agency Standard and Poor's on Monday downgraded the debt of mortgage finance giants Fannie Mae and Freddie Mac. The downgrades to AA+ are part of the continued fallout from the agency's decision to drop U.S. sovereign debt to AA+, an unprecedented move that rattled investors and sparked concern over the long-term impact of the action It was widely expected that S&P's downgrade of U.S. debt would roll downhill to other entities that are closely linked to the federal government.
  • VIDEO: George Will calls downgrade a ‘half-baked political analysis’

    08/07/2011 7:54:22 PM PDT · by Do Not Make Fun Of His Ears · 24 replies
    Daily Caller ^ | 8/7/11 | Jeff Poor - The Daily Caller
    While many on the right are lambasting the Obama administration for its failure to maintain the country’s pristine AAA credit rating, one conservative commentator said Sunday that the Standard and Poor’s downgrade needn’t be taken seriously. Washington Post columnist George Will was asked on ABC’s “This Week with Christiane Amanpour” how much the downgrade would “affect the basic economy here?” Will said it wouldn’t before trashing Standard & Poor’s track record. (RELATED: Standard & Poor’s ratings head: U.S. could be downgraded even further) “You called this a shocker,” Will said. “Standard & Poor’s would have forfeited its good reputation if...
  • “Tea Party Downgrade”? They Can’t Possibly Sell It

    08/07/2011 7:52:54 PM PDT · by 2ndDivisionVet · 40 replies
    Power Line ^ | August 7, 2011 | John Hindraker
    The downgrading of U.S. debt is an extreme embarrassment for the government in general, and the Obama administration in particular. So the administration has reacted in the only way it knows: by denouncing Standard & Poors, and by blaming its political opponents, the supporters of the Tea Party, for the downgrade. The administration’s knee-jerk responses are somewhat inconsistent: if S&P was wrong to downgrade the debt, and the downgrade was based on a mathematical error, then it is hard to see how the downgrade can also be the Tea Party’s fault. (In the legal world, this is known as pleading...
  • Cynthia Tucker: Romney misses his chance (Pure fool's gold)

    08/07/2011 6:39:29 PM PDT · by 2ndDivisionVet · 10 replies
    Mitt Romney is smart enough to know he can't win the Republican nomination by playing to his party's extremists. He's not one of them, and they know it. He doesn't have a long track record of denouncing government. Indeed, he used its levers to push Massachusetts to adopt an innovative health care plan that became the template for the Affordable Care Act. He's a card-carrying member of the wealthy elite, and he lacks the put-on good ol' boy mannerisms that allowed George W. Bush to pose as an average Joe. Besides, Romney is a Mormon, a religious affiliation viewed with...
  • Did Sarah Palin's "Hells No" Call The Market Top?

    08/07/2011 6:25:25 PM PDT · by 2ndDivisionVet · 7 replies
    Business Insider ^ | August 7, 2011 | Joe Weisenthal
    The connection between the debt ceiling fight and the market plunge is a bit dicey. Still, we were amused by this chart -- in the presentation from Shadow Capitalism that was just published -- which points out that Sarah Palin's "Hells No" comment on raising the debt ceiling coincided nicely with the market top earlier this year. Also interesting that the market's basically been plunging since the Obama/Boehner breakup. (CHART AT LINK)
  • Rep. Ryan’s warning

    08/07/2011 12:14:05 PM PDT · by americanophile · 61 replies · 1+ views
    Boston Herald ^ | August 7, 2011 | Boston Herald Editorial Staff
    Standard & Poor’s downgrade of the nation’s credit rating gives House Budget Committee Chairman Paul Ryan every right to say “I told you so.” Even earlier this week when President Obama was taking his victory lap for the debt-ceiling compromise, Ryan was disclosing the cold, hard truths of the economic troubles that lie ahead — truths that a jittery Wall Street has been more than aware of. In an oped column in Wednesday’s Wall Street Journal, the Wisconsin Republican reiterated, of course, that the president really has no budget plan. “The president’s February budget,” he wrote, “deliberately dodged the tough...
  • Mark Steyn: Debt ceiling more an abyss

    08/07/2011 12:31:06 PM PDT · by Immerito · 4 replies
    OC Register ^ | August 5, 2011 | Mark Steyn
    On Thursday, in honor of Barack Obama's 50th birthday, the Dow dropped 10 points for every year he has walked among us. It was the ninth-largest drop in history. We should be relieved he wasn't turning 80. The markets are apparently concerned that the entire global economy may be "stalling." You don't say? Observant fellows, these market chappies. And yet, in a certain sense, these are still the good times. At the end of the week, U.S. Treasury yields plunged to Eisenhower-era rates. America, explained Ethan Harris of Bank of America Merrill Lynch, "still gets the safe-haven money." That's to...
  • American Collapse

    08/07/2011 9:40:21 AM PDT · by george76 · 59 replies
    National Review ^ | August 6, 2011 | Mark Steyn
    Barack Obama is offering us a Latin-American future. Unless things change, the man (or woman) elected in 2012 will be the last American president to preside over the world’s leading economy. If things get really bad, he will find himself presiding over the early stages of American collapse. Not “decline” but “collapse.” “Decline” is what happens when you’re Britain in the 1940s, and you cede global dominance to a major ally that shares your language, legal system, cultural inheritance, and broad geopolitical objectives. That deal isn’t on offer this time round. ... In the real world, debt ceilings are determined...
  • EDITORIAL: Obama’s downgraded America

    08/06/2011 8:32:34 PM PDT · by jazusamo · 60 replies
    The Washington Times ^ | August 6, 2011 | Editorial
    S&P tells it like it is: the U.S. is out of moneyThe Obama administration has made history by presiding over the first-ever downgrade in the U.S. credit rating. President Obama has outdone all his predecessors in wrecking America’s good name. His answer to this problem: Spend even more. Raising the debt ceiling was sold as a way of guaranteeing the U.S. credit rating. It had the opposite effect, which makes sense to anyone who understands credit. Take a family with a median household income around $50,000. If they spend $85,000 a year and have debt at $300,000 and growing, it’d...
  • S&P warns of a second downgrade

    08/06/2011 2:11:26 PM PDT · by Clairity · 158 replies
    Politico ^ | August 6, 2011 | Josh Boak
    One day after lowering the nation’s platinum triple-A credit rating, Standard & Poor’s analysts warned Saturday that the U.S. government could face a second downgrade if the economy continues to struggle and the government fails to make the cuts outlined in the debt ceiling agreement. The ratings agency on Friday downgraded the nation to AA+ for the first time in history, saying partisanship in Washington is preventing dramatic deficit reduction.
  • America's debt downgrade is a damning indictment of President Obama's Big Government disaster

    08/06/2011 2:16:45 PM PDT · by Clairity · 94 replies · 1+ views
    The Telegraph ^ | Aug 6, 2011 | Nile Gardiner
    The decision by credit agency Standard and Poor’s to downgrade America’s AAA credit rating for the first time in 70 years is a massive blow to the credibility of the Obama administration, and a damning indictment of its handling of the economy. No doubt the White House will pathetically try to blame the Bush Administration, Republicans in Congress, and of course its favourite target, the Tea Party, for the move by S&P. But without a shadow of a doubt, responsibility for the country’s financial mess and staggering levels of debt lie with the current US president and his administration. They...
  • After S&P downgrade, WH says 'we must do better'

    08/06/2011 2:42:35 PM PDT · by Justaham · 29 replies
    Associated Press ^ | Mark S. Smith
    WASHINGTON (AP) - President Barack Obama sought to distance himself Saturday from the bad news of the nation's first-ever credit-rating downgrade, but lawmakers and presidential candidates showed no such reticence—trading salvos over who's at fault and why. The president, spending the weekend at Camp David, left it to press secretary Jay Carney to say it's clear Washington "must do better" in tackling soaring deficits and other economic woes. A statement from Carney said talks that produced Tuesday's $2 trillion compromise on raising the U.S. borrowing limit had been too drawn-out and "divisive." But the statement didn't directly address Friday's move...
  • Reid:S&P downgrade backs Dems' call for more revenue

    08/06/2011 8:43:43 AM PDT · by Cheerio · 109 replies
    TheHill ^ | 08/05/11 | Jamie Klatell
    Standard & Poor's decision to downgrade the nation's credit rating reinforces Democrats' call for increasing tax revenue, Senate Majority Leader Harry Reid (D-Nev.) said Friday.
  • U.S. AAA credit rating DOWNGRADED for first time in history after Obama's debt deal

    08/06/2011 7:57:29 AM PDT · by KeyLargo · 68 replies · 1+ views
    Daily Mail UK ^ | Aug 6, 2011
    U.S. AAA credit rating DOWNGRADED for first time in history after Obama's debt deal Unprecedented move will send shockwaves globally S&P cuts long-term credit rating from AAA to AA+ Borrowing costs for consumers and government to rise Comes after Obama signed bill to reduce fiscal deficit By Daily Mail Reporter Last updated at 1:08 PM on 6th August 2011 The U.S. has lost its top-notch AAA credit rating from Standard & Poor's in an unprecedented reversal of fortune for the world's largest economy. S&P cut the long-term U.S. credit rating by one notch to AA+ on concerns about the government's...
  • Boehner blames S&P downgrade on ‘out-of-control spending’ (and you did WHAT to stop it???)

    08/06/2011 8:24:46 AM PDT · by markomalley · 91 replies
    Daily Caller ^ | 8/5/11 | C.J. Ciaramella
    In as statement issued late Friday night, Speaker of the House John Boehner called a decision by Standard & Poor’s to downgrade the U.S. credit rating for the first time since 1917 “the latest consequence of the out-of-control spending” that “has resulted in job-destroying economic uncertainty and now threatens to send destructive ripple effects across our credit markets.” “Republicans have listened to the voices of the American people and worked to bring the spending binge to a halt,” Boehner said “We are no longer debating how much to spend, but rather how much to cut. Unfortunately, decades of reckless spending...
  • Rep. Grimm Gives GOP Weekly: Obama Needs To "Wake Up To Reality"

    08/06/2011 11:48:28 AM PDT · by La Enchiladita · 24 replies
    Real Clear Politics ^ | Aug. 6, 2011 | U.S. Rep. Michael Grimm (R-N.Y.)
    "Hello, I’m Congressman Michael Grimm from the great state of New York, proudly representing Staten Island and parts of Brooklyn. After serving my country in combat with the United States Marine Corps and deep undercover with the FBI, I decided to go out on my own and start a small business. I’ve seen firsthand how politicians and bureaucrats can make it harder to meet a payroll and create jobs. The latest jobs report shows that President Obama’s ‘stimulus’-driven policies are simply not working. The overspending, overtaxing, and over-regulating coming out of Washington is creating uncertainty and holding our job creators...
  • The Lights Are Still On Washington! You Lie

    08/06/2011 5:09:33 AM PDT · by NoNAIS
    The PPJ Gazette ^ | August 5, 2011 | Lynn Swearingen
    "Readers – take a look around you. If you are like me, the electricity is still on, a nice bottle of Vino resides next to the Roma’s in the ‘fridge, and not much has changed. True – I might raise my hand a few more times at Auction tomorrow to purchase some junk silver, but hey – I’d most likely do that anyway. The truth is, Washington – You Lie!"
  • Obama briefed on S&P downgrade before leaving W.House

    08/05/2011 11:59:20 PM PDT · by Berlin_Freeper · 23 replies
    reuters.com ^ | August 6, 2011 | Reuters
    Obama left the White House for the Camp David presidential retreat outside Washington in late afternoon just hours before S&P's announcement. "He was briefed before he left for Camp David and has been receiving updates through the night," the official said.
  • S&P statement on lowering US long-term debt to AA+

    08/05/2011 9:28:50 PM PDT · by freespirited · 33 replies
    Guardian ^ | 08/06/11 | Standard & Poor's
    • We have lowered our long-term sovereign credit rating on the United States of America to 'AA+' from 'AAA' and affirmed the 'A-1+' short-term rating. • We have also removed both the short- and long-term ratings from CreditWatch negative. • The downgrade reflects our opinion that the fiscal consolidation plan that Congress and the Administration recently agreed to falls short of what, in our view, would be necessary to stabilize the government's medium-term debt dynamics. • More broadly, the downgrade reflects our view that the effectiveness, stability, and predictability of American policymaking and political institutions have weakened at a time...
  • Australia PM downplays US debt downgrade fears [ Yes Debt and not credit down grade ]

    08/05/2011 10:26:50 PM PDT · by NoLibZone · 2 replies
    Afp ^ | 8-5-11 | AFP
    SYDNEY — Australian Prime Minister Julia Gillard sought to calm public nerves over global debt woes Saturday after Standard & Poor's cut the United States' credit rating for the first time in history. Gillard told Australians their economy was well placed to weather financial crises looming in the US and Europe and would not be heavily affected by S&P's decision to downgrade the US rating from AAA to AA+. "People should look with confidence at our economic credentials and fundamentals, and people should look with confidence at the ability of this government to deal with global instability," Gillard said.
  • Former Obama Economic Adviser on Downgrade: We're 'Pretty Darn [expletive] [profanity in article]

    08/05/2011 10:14:54 PM PDT · by RatherBiased.com · 67 replies
    NewsBusters ^ | Noel Sheppard
    Christina Romer, the former chair of Obama's Council of Economic Advisers on Friday offered a rather strong opinion concerning the announcement by Standard & Poor's that the credit rating agency downgraded America's debt to AA+. Appearing on HBO's "Real Time," Romer said we're "pretty darn f--ked" (video follows with transcript and absolutely no commentary needed): ---- BILL MAHER, HOST: So, excuse my language, but we used to do a segment on this show called “How F—ked Are We?” (VIDEO CLIP) MAHER: I didn’t expect that there. This, just before we went on the air they said our rating got downgraded....
  • CBS: Dems, GOP react to debt downgrade [ copy it fast! ]

    08/05/2011 10:19:22 PM PDT · by NoLibZone · 22 replies
    cbsnews.com ^ | Aug 5 2011
    (CBS/AP) Following the news Friday of Standard and Poor's downgrade on the U.S. debt, several politicians from both sides of the aisle offered their reactions. Democratic Senate Majority Leader Harry Reid released a statement: "This makes the work of the joint committee all the more important, and shows why leaders should appoint members who will approach the committee's work with an open mind -- instead of hardliners who have already ruled out the balanced approach that the markets and rating agencies like S&P are demanding." Reid was referring to the special bipartisan congressional committee -- made up of six Democrats...
  • U.S. loses AAA credit rating from S&P [copy 2]

    08/05/2011 5:51:56 PM PDT · by NormsRevenge · 70 replies
    Yahoo ^ | 8/5/11 | Walter Brandimarte - Reuters
    NEW YORK (Reuters) - The United States lost its top-notch AAA credit rating from Standard & Poor's on Friday, in a dramatic reversal of fortune for the world's largest economy. S&P cut the long-term U.S. credit rating by one notch to AA-plus on concerns about growing budget deficits. U.S. Treasuries, once undisputedly seen as the safest investment in the world, are now rated lower than bonds issued by countries such as the UK, Germany, France or Canada.
  • S&P Downgrades U.S. Debt Rating — Press Release (Boehner-McConnell FAILURE)

    08/05/2011 5:58:18 PM PDT · by jimbo123 · 55 replies
    Wall Street Journal ^ | 8/5/11 | S&P
    Standard & Poor’s took the unprecedented step of downgrading the U.S. government’s “AAA” sovereign credit rating Friday in a move that could send shock waves through global. The following is a press release from Standard & Poor’s: – We have lowered our long-term sovereign credit rating on the United States of America to ‘AA+’ from ‘AAA’ and affirmed the ‘A-1+’ short-term rating. – We have also removed both the short- and long-term ratings from CreditWatch negative. – The downgrade reflects our opinion that the fiscal consolidation plan that Congress and the Administration recently agreed to falls short of what, in...
  • US government loses triple-A credit rating [downgraded sans a credible reduction package ]

    08/05/2011 6:08:51 PM PDT · by NoLibZone · 30 replies
    MSNBC ^ | August 5 2011 | MSNBC
    S&P cut the long-term U.S. credit rating by one notch to AA-plus. The credit agency said late Friday that it was making the move because the deficit reduction plan passed by Congress on Tuesday did not go far enough to stabilize the country's debt situation. U.S. Treasuries, once undisputedly seen as the safest investment in the world, are now rated lower than bonds issued by countries such as the United Kingdom, Germany, France or Canada. The outlook on the new U.S. credit rating is negative, S&P said in a statement, a sign that another downgrade is possible in the next...
  • United States loses AAA credit rating from S&P

    08/05/2011 6:16:35 PM PDT · by Iam1ru1-2 · 29 replies · 1+ views
    BuenosAiresHerald.com ^ | August 5, 2011 | BuenosAiresHerald.com
    The United States lost its top-notch AAA credit rating from Standard & Poor's on Friday in an unprecedented reversal of fortune for the world's largest economy. S&P cut the long-term US credit rating by one notch to AA-plus on concerns about the government's budget deficits and rising debt burden. The move is likely to raise borrowing costs eventually for the US government, companies and consumers. "The downgrade reflects our opinion that the fiscal consolidation plan that Congress and the Administration recently agreed to falls short of what, in our view, would be necessary to stabilize the government's medium-term debt dynamics,"...
  • The price of Compromise AR join Boehner in throwing Cap, Cut, and Balance overboard

    08/05/2011 8:58:53 PM PDT · by pulaskibush · 15 replies
    080511 | me
    S & P has downgraded the United States Credit Rating to AA+ from the AAA rating we had since 1917. It's no suprise since massive spending is still being done on things like green projects, illegal aliens, and useless bureaucrat organizations like the EPA. Decades of foolish Democrat Spending, a few years of foolish Republican Spending, and the spending by Soros Puppet Obama (soon to be more than all other Presidents combined) has harmed the nation that the world depends on. Who will the lazy corrupt Mexican "government" dump their people on without the United States of America? Republicans could...
  • U.S. loses AAA credit rating from S&P

    08/05/2011 5:51:21 PM PDT · by GQuagmire · 409 replies
    Yahoo.com via Reuters ^ | 8/5/11 | Walter Brandimarte
    NEW YORK (Reuters) - The United States lost its top-notch AAA credit rating from Standard & Poor's on Friday, in a dramatic reversal of fortune for the world's largest economy. S&P cut the long-term U.S. credit rating by one notch to AA-plus on concerns about growing budget deficits. U.S. Treasuries, once undisputedly seen as the safest investment in the world, are now rated lower than bonds issued by countries such as the UK, Germany, France or Canada
  • Govt officials: US expecting S&P downgrade -- based on "serious mistake" in analysis*

    08/05/2011 5:04:57 PM PDT · by mandaladon · 77 replies
    ABC News ^ | 5 Aug 2011
    Two government officials tell ABC News that the federal government is expecting and preparing for bond rating agency Standard & Poor’s to downgrade the rating of US debt from its current AAA value. Official reasons given, one official says, will be the political confusion surrounding the process of raising the debt ceiling, and lack of confidence that the political system will be able to agree to more deficit reduction. A source says Republicans saying that they refuse to accept any tax increases as part of a larger deal will be part of the reason cited. The official was unsure if...
  • Uncle Sugar Overextended

    08/05/2011 1:28:46 PM PDT · by Sybeck1 · 3 replies
    Youtube
    http://www.youtube.com/watch?v=ZBy0NWJsKz4
  • A debt deal The Founders could love

    08/05/2011 12:14:16 PM PDT · by IndePundit · 3 replies
    The Wall Street Journal, DavidRivkin.com ^ | August 2, 2011 | David B. Rivkin Jr. and Lee A. Casey
    The debt-ceiling crisis has prompted predictable media laments about how partisan and dysfunctional our political system has become. But if the process leading to the current deal was a "spectacle" and a "three-ring circus," as Obama adviser David Plouffe put it, the show's impresarios are none other than James Madison and Alexander Hamilton. Our messy political system is working exactly the way our Founders intended it to. To the extent House members were the most intransigent during the process—a matter of opinion, in any case—they were meant to be. The House of Representatives is the "popular branch," as described in...
  • How About Some Real Cuts? (The grass was trimmed but alas, the landscaping postponed)

    08/05/2011 8:31:03 AM PDT · by SeekAndFind · 5 replies
    National Review ^ | 08/05/2011 | Jonah Goldberg
    Uncle Sam now owes more on his credit cards than he makes in a year. The national debt passed the total U.S. GDP this week. Mull that over for a bit. Now mull this over: Until the budget deal this week, the federal government borrowed 40 cents for every dollar it spent. And the budget deal didn’t do very much to change that. It “cut” $2 trillion over ten years, which means Uncle Sam will overspend slightly less. If we hold to the deal — and who among us doubts that Congress won’t keep its word? — spending will “only”...
  • Editorial: An Unwelcome Debt Milestone

    08/04/2011 6:58:48 PM PDT · by Kaslin · 10 replies
    IBD Editorials ^ | August 4, 2011 | Staff
    Debt: Quietly, with the debt-ceiling imbroglio behind us, we've entered a new era. And, no, that's not a good thing. Our debt now exceeds the size of our entire economy. Our economy won't be the same. With this correction, the markets have issued a stinging rebuke to those who believed that with the debt-ceiling impasse resolved we can return to business as usual. We can't. Those who carefully watch what the government does are no doubt alarmed it took just one day to raise the debt an additional $238 billion — or nearly 60% of that authorized by the debt-ceiling...
  • Abandoned on the Field as the ‘Nobles’ Surrender (...the 'Tea Party' to the enemy)

    08/04/2011 6:41:14 PM PDT · by LibFreeUSA · 9 replies
    Mark America ^ | August 4, 2011 | Mark America
    The talking points prevailing in the wake of the debt ceiling debacle would have you believe that this deal had been a compromise, and the best for which conservatives and Tea Party ought to have hoped possible. At the end of the debates lies a truth concealed by all the fluff: There was no compromise in this debate; one side prevailed, but it wasn’t the Tea Party. In a betrayal reminiscent of the movie Braveheart, when the Scottish nobility deserted the field, abandoning William Wallace to defeat, Republican leaders likewise abandoned the Tea Party, not for compromise, but in infamy...
  • White House says it ‘forced Republicans to back down’ in debt fight

    08/04/2011 4:26:02 PM PDT · by Nachum · 30 replies
    The Hill ^ | 8/4/11 | Michael O'Brien
    The White House shot back Thursday at Rep. Paul Ryan’s (R-Wis.) claim that Republicans had called the president’s bluff in debt-ceiling negotiations. The administration issued a point-by-point rebuttal to Ryan’s op-ed yesterday in The Wall Street Journal, in which he characterized Republicans as having successfully stared down President Obama in the protracted fight over spending and the nation’s borrowing authority. Maybe the most bombastic claim Ryan made was that Republican leaders called Obama’s bluff by forcing him to accept legislation that included no revenue-raisers and raised the debt limit
  • Sorting Through Debt Deal Fallout (The ramifications of this thing are now becoming known.)

    08/04/2011 3:16:34 PM PDT · by Evil Slayer · 3 replies
    RushLimbaugh.com ^ | 8/4/11 | Rush Limbaugh
    BEGIN TRANSCRIPT RUSH: Here's a story from The Politico -- and I'm suspicious. I think every story from The Politico comes from the White House. No, I really do. You may interpret that as old Rush trying to be funny -- and I know, I know; I'm a funny guy -- but I'm saying this with all sincerity. I think most everything on the Politico comes from the White House. I think it's a steno pool. "The debt ceiling..." Well, here's the headline: "Debt Deal Could Endanger the Health Care Law," and, by the way, folks, I have a whole...
  • Gold & Silver Are Moving Higher… Much Higher! Says Analyst

    08/04/2011 8:57:51 AM PDT · by SeekAndFind · 62 replies
    Yahoo Finance ^ | 08/04/2011 | Jeff Macke
    Every day is a good day to buy gold of late. It's an intoxicating state of affairs for those of us who already own the barbaric metal, which is exactly the problem. Being inordinately giddy over an investment, what Tony Montana called "getting high on your own supply", generally ends quite poorly. The question isn't so much whether or not gold has worked. It has. The question is if it's too late to enter or if this is a prudent time to take some profits. With the fundamentals widely understood, Breakout turned to technical analyst Peter Lee of UBS to...
  • 87 Was a good start, but not good enough!

    08/04/2011 8:16:59 AM PDT · by jmaroneps37 · 1 replies
    coachisright.com ^ | August 4, 2011 | Ron Reale,staff writer
    The only thing we won in the Debt Debate is a clear list of those we need to replace in Congress…... Face it, our country has been working with a fraudulent credit rating for years. All of the rating companies ignored the unrelenting growth of our government, and even helped perpetrate the fraud by keeping the rating up while they knew we were packaging worthless bank loans into “derivatives,” giving their stamp of approval to Barney Frank and Chris Dodd expediting the collapse of the real estate market. “….but certain Republicans have got to be removed to make further progress....
  • Business owners doubt value of debt ceiling deal

    08/04/2011 7:54:31 AM PDT · by freedombiz · 2 replies
    Orange County Register ^ | 8-4-2011 | Jan Norman
    “My congressman went to the mat over the debt ceiling and all I got was this lousy economy.” That T-shirt slogan seems to sum up the reaction of local business people to the recently completed increase in the U.S. debt limit.
  • Government Amateurs Vs Government Professionals (Octopus won't commit suicide)[Read this!]

    08/03/2011 11:13:22 PM PDT · by 2ndDivisionVet · 33 replies · 1+ views
    Eurasia Review ^ | August 3, 2011 | Daniel Greenfield
    In the budget debate, government amateurs took on government professionals. And the professionals won. This is only to be expected. Professionals usually have the inside track in whatever field they’re in. Not only do they hold the higher ground, but they know all the loopholes and how to shape the dialogue. In most fields, the only way that amateurs can beat professionals is by undercutting them. Which is why professionals create guilds which set certain standards of training and apprenticeship for anyone who wants to enter the field. And they also set prices to avoid being undercut. In the budget...
  • America is being held hostage by right-wing purists (Ultra Barf Alert)

    08/03/2011 10:27:28 PM PDT · by 2ndDivisionVet · 31 replies
    The National Post ^ | August 3, 2011 | John Moore
    Six years ago, I was shopping a book idea to publishers. The concept was a guide to how the Internet and radio and television gabbers were creating a self-contained parallel universe for American conservatism complete with its own system of economics, a fanciful version of U.S. history and even its own science. That this loopy world view required the rejection of matters established in fact and history posed no impediment to its adherents: They merely asserted that the record and the facts were wrong. My central thesis was that a portion of the American conservative movement had quite simply gone...
  • Huffington Post Forced to Issue Retraction, Apology After Falsely Accusing Andrew Breitbart,,,

    08/03/2011 9:25:03 AM PDT · by tobyhill · 24 replies
    fox news ^ | 8/3/2011 | fox news
    Arianna Huffington’s liberal-leaning Huffington Post was forced to write a retraction Tuesday after alleging that conservative blogger Andrew Breitbart doctored a video clip from a White House press briefing in order to make it look like CBS anchor Norah O’Donnell was unhappy about the recent debt compromise during an exchange with White House press secretary Jay Carney. In the clip, which Breitbart and other conservative media used to describe what they saw as O’Donnell’s liberal bias, the CBS anchor appears to claim about the debt compromise: “You gave them everything they wanted and we got nothing.”
  • McCain: GOP on 'Super Committee' Will Fight Tax Increases (Laff Riot!)

    08/03/2011 7:48:09 PM PDT · by 2ndDivisionVet · 30 replies
    NewsMax ^ | August 3, 2011 | Jim Meyers and Kathleen Walter
    Sen. John McCain tells Newsmax he can’t blame Americans for being disgusted by Congress and the president’s performance in the debt ceiling crisis, but insists that Republicans were determined not to “betray” voters’ 2010 election mandate to cut federal spending. The GOP’s 2008 presidential candidate vows he will be fighting “on the Senate floor” against deep cuts in military spending, states that he favors eliminating all agricultural subsidies, calls pork barrel spending “corruption,” and charges that President Obama was a “bystander” in the debt ceiling debate. The Arizona legislator also says he is “very concerned” about another four years under...
  • Don't Believe You Won, Tea Party

    08/03/2011 6:26:13 PM PDT · by Sola Veritas · 84 replies
    EIB Network ^ | August 3, 2011 | Rush Limbaugh
    RUSH: I'm still confused. If Republicans were the ones putting guns to everybody's heads, how come the Democrats got away with all the money? Two-point-four trillion is a pretty good haul even by the Democrat Party's high criminal standards. How can it be said that Obama lost? We got people on our side running around saying that. This was a big win. And you Tea Party people, I want you to beware, there are people trying to convince you that you won big, that you changed the game, that you changed the way things are going, and they are lying...
  • Just a Few Budgeting Lies that my President Told Me

    08/03/2011 4:12:46 PM PDT · by jfd1776 · 3 replies
    Illinois Review ^ | August 3, 2011 A.D. | John F. Di Leo
    For thousands of years, society subsisted on barter and gold coins. The vast majority of the population struggled to feed themselves. Farming, hunting, and self-defense were the great occupation of the human race. But there had always been trade, and shops, and towns…from Ancient times through the Middle Ages, and on through the Enlightenment. Eventually, there was enough data in place that wise people could study it, and could begin to grasp how commerce worked, so that public policy could be crafted, and societies developed, in manners that would foster something greater than subsistence, perhaps even something like prosperity. The...
  • The debt deal and Obama’s 2012 problem

    08/03/2011 1:28:39 PM PDT · by mojito · 4 replies
    WaPo ^ | 8/3/2011 | George Will
    The story is that as Mark Twain and novelist William Dean Howells stepped outside one morning, a downpour began and Howells asked Twain, “Do you think it will stop?” Twain answered, “It always has.” The debt-ceiling impasse has, as things generally do, ended, and a post-mortem validates conservatives’ portrayal of Barack Obama and their dismay about the dangers and incompetence of liberalism’s legacy, the regulatory state. For weeks, you could not fling a brick in Washington without hitting someone with a debt-reduction plan — unless you hit Obama, whose plan, which he intimated was terrifically brave, was never put on...
  • A Cure For Republicans-Caved-On-The-Debt-Ceiling Blues

    08/03/2011 8:59:08 AM PDT · by Lloyd Marcus · 9 replies
    LloydMarcus.com ^ | 08-03-2011 | Lloyd Marcus
    As I left the store, a blue shirted elderly woman sporting a warm smile said, “Thank you for shopping at Walmart.” For some reason, it struck me, “Wow, all this was started by one man, Sam Walton”. I caught a bit of the Walmart story while flipping through the channels a few days earlier. Walton's wife said, “We were finally out of debt and living comfortably. But, that was not enough for Sam. He had an idea for a new store”. A businessman on the TV program said, “I liked Sam. So, when he showed me his new store, I...