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Keyword: debtceilingdeal

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  • US debt ceiling was not raised it was removed

    10/20/2013 7:07:58 PM PDT · by 2ndDivisionVet · 19 replies
    Digital Journal ^ | October 20, 2013 | Ken Hanly
    The recent bipartisan deal to end the government shutdown and avoid government default, did not raise the debt ceiling but in effect removed any ceiling until February 7 next year. With no new ceiling to bump against the debt went up a record $328 billion just a day after the deal passed. This far surpassed the $238 billion record set two years ago. The huge leap is largely blamed on the government replenishing its supply of extraordinary measures by repaying Federal Funds it borrowed to prevent hitting the debt ceiling earlier. It will now be prepared if there is no...
  • The Frog Pot Hypothesis

    10/20/2013 11:40:55 AM PDT · by neverdem · 14 replies
    Real Clear Politics ^ | October 17, 2013 | Robert Tracinski
    So what was accomplished by the government shutdown? Peter Beinart declares that, contrary to conventional wisdom, the resolution of the shutdown was a Republican victory because their "surrender" consisted of perpetuating federal spending at sequester levels. But I think what was accomplished was bigger. What was accomplished was that the conservative base communicated how serious it really is about reducing the size of government. The usual game in which the Democrats try to grab for as much as they can get, and Republicans fight back by giving them only half of it—and the result is that government still keeps growing,...
  • GOP Sanity Caucus: “Never again”

    10/17/2013 5:08:35 AM PDT · by Oldeconomybuyer · 117 replies
    San Francisco Chronicle ^ | October 16, 2013 | By: Carolyn Lochhead
    <p>Senate Republicans emerged Wednesday from the Capitol meeting that ended the shutdown and debt ceiling crisis at least for a couple of months, saying, “Never again,” followed by, “I told you so.</p>
  • Right-wing nuts nab new way to sabotage Obamacare

    10/17/2013 5:07:52 AM PDT · by 11th_VA · 59 replies
    Salon ^ | 17 Oct 2013 | By David Dayen
    The final deal to avert a breach of the debt limit and end the government shutdown included what has been described as a “small concession” to Republicans: tightening the income verification measures for customers on the Obamacare insurance exchanges to qualify for subsidies. But considering the hurdles associated with this step – and the enormous IT problems we’ve already seen with the exchanges – the concession may not be small at all. As one prominent health care expert tells Salon, the impact could contribute to an attempted sabotage of the law by those who want to see it repealed. Rather...
  • Obama to speak on Thursday about path ahead on fiscal issues [Live Thread for Clown, 10:35]

    10/17/2013 4:29:05 AM PDT · by SoFloFreeper · 23 replies
    Reuters ^ | 10/17/13
    ... Obama will deliver a statement on Thursday at 10:35 a.m. about the need for Democrats and Republicans to work together on fiscal issues following the 11th hour deal in Congress that ended a 16-day government shutdown and averted a debt default. "I'll have more to say about this tomorrow...
  • Minutes After Debt Ceiling Is Raised, Obama Shows Up With List Of Things To Spend Money On

    10/16/2013 7:45:11 PM PDT · by smoothsailing · 60 replies
    PJ Media ^ | Stephen Kruiser
    October 16, 2013 Minutes After Debt Ceiling Is Raised, Obama Shows Up With List Of Things To Spend Money On Stephen Kruiser Start learning Mandarin, kids. “In fact, there are things that we know will help strengthen our economy that we could get done before this year is out,” said Obama from the White House briefing room. “We still need to pass a law to fix our broken immigration system. We still need to pass a farm bill. And with the shutdown behind us and budget committees forming, we now have an opportunity to focus on a sensible budget that...
  • Sen. Graham follows own path on shutdown deal to open government

    10/17/2013 4:35:50 PM PDT · by Oldeconomybuyer · 11 replies
    Sacramento Bee ^ | October 17, 2013 | By James Rosen
    Sen. Lindsey Graham was the only Republican in South Carolina’s GOP-dominated congressional delegation who voted for the deal that reopened the federal government. “This agreement is far from great news, but it brings to an end, at least temporarily, a disaster,” Graham said. “It stops the bleeding and gives us a chance to regroup. On the positive side, the agreement preserves the spending caps and makes modest changes to protect taxpayers from what will be rampant fraud in Obamacare income-verification procedures.”
  • Relief over U.S. debt deal short-lived as dollar slides

    10/17/2013 4:19:28 AM PDT · by Oldeconomybuyer · 16 replies
    Reuters ^ | October 17, 2013 | By Richard Hubbard
    The dollar and European shares fell on Thursday as market relief at a last-ditch U.S. budget deal gave way to worries over the economic impact of the 16-day government shutdown and prospects of a re-run early next year. Chinese credit agency Dagong, downgraded the U.S. sovereign rating to A- from A with a negative outlook, driving further dollar losses.
  • Senate Debt Deal Includes Provision Lessening Congress' Power On Debt Ceiling

    10/16/2013 4:49:51 PM PDT · by Perdogg · 188 replies
    Capitol Hill talk regarding the Senate deal apparently includes a provision that would take away the Congress’ power to increase the debt ceiling. According to Politico, it looks like the buzz appears to be true.: The plan includes a proposal offered by McConnell in the 2011 debt ceiling crisis that allows Congress to disapprove of the debt ceiling increase, which means lawmakers will formally vote on whether to reject a debt ceiling increase until Feb. 7. Obama can veto that legislation if it passes. If Congress fails as expected to gather a two-thirds majority to override the veto, the debt...
  • Liberal senators warn Obama over Social Security cuts in any debt deal

    07/08/2011 2:38:11 PM PDT · by Evil Slayer · 17 replies
    The Hill ^ | 7/8/11 | Erik Wasson
    Sens. Bernie Sanders (I-Vt.) and Sheldon Whitehouse (D-R.I.) warned Friday that President Obama faces turmoil in the Senate and in his reelection campaign if he includes Social Security cuts in any debt-ceiling deal. The senators said the White House has not communicated effectively to Senate Democrats and they and their rank-and-file colleagues are being frozen out of the process. “I have talked to some of my colleagues, including some that you might not expect, who say if [White House officials] bring to the Senate a piece of crap that comes down heavy on working families and children and the elderly...