Debt Ceilinged

[Teatownclown]

If the Teabaggers and GOP continue to play politics, down goes the market. GoldmanSacks must be licking their chops.....

[Conan71]

If the Teabaggers and GOP continue to play politics, down goes the market. GoldmanSacks must be licking their chops.....

Hope you are set up to short it all the way down.

Doesn't matter whether or not we raise the debt ceiling, sooner or later our debt will eventually be downgraded.  We are kicking the can down the block yet again with a bunch of artificial measures set to put off the inevitable, but hoping it will be one someone else's watch rather than the current admin or Congress.

[guido911]

If the Teabaggers and GOP continue to play politics, down goes the market. GoldmanSacks must be licking their chops.....

My gosh, are you STILL talking?

[Teatownclown]

More reading than talking.

Here, get educated. No more whining.

Financial Crisis Rooted In Politics of Creditworthiness, Study Contends

http://www.thewashingtoncurrent.com/2011/06/financial-crisis-rooted-in-politics-of.html

"A common reading of the recent subprime mortgage crisis pins the blame on bankers and loan brokers who extended mortgages to those who could not afford them, thereby inflating a housing bubble that was destined to burst. While technically correct, that reading ignores the "politics of creditworthiness" that undergirded the rise of subprime mortgages, as explained in a new article in the June issue of the American Sociological Review by Simone Polillo, an assistant professor of sociology in the University of Virginia's College of Arts & Sciences."

[guido911]

More reading than talking.

Here, get educated. No more whining.

Saw that the author is a contributor to the Democratic Daily. No thanks.
http://thedemocraticdaily.com/

[Townsend]

Speaker Boehner: American people will not tolerate an increase in the debt limit without spending cuts and reforms.

Looks like our credit rating's about to take another slap upside.

[Conan71]

Looks like our credit rating's about to take another slap upside.

No one in Washington gives a fat smile about it.  They just keep on greasing the people who keep them in power with free money from the treasury.

[Gaspar]

No one in Washington gives a fat smile about it.  They just keep on greasing the people who keep them in power with free money from the treasury.

[DolfanBob]

Did I hear something about a Million Dollar coin?

[Townsend]

Did I hear something about a Million Dollar coin?

Trillion.  It'll be super huge.

[Teatownclown]

Do you think your teabaggers will let us go belly up?

I have no problem with the platinum $1 trill coin.

Anybody take notice of the FED paying back the Treasury $90 billion this week?

Or, is that above everybody's ceiling here?

[nathanm]

I dislike the trillion dollar coin option, but because of politics, not economics. Economically it doesn't matter except that it can assure the markets that the Tea Partyists can no longer hold the economy hostage in the way they have been. What I'd prefer to see is an elimination of the debt ceiling in exchange for removing the (accidental) power of the executive to mint trillion dollar coins.

If the Tea Partyists were serious, they wouldn't try to hide the fact that we've already done over $4 trillion in deficit reduction since Obama took office. They wouldn't constantly harp about ACA without a way to replace its net cost savings to the federal budget. They wouldn't claim we need to increase our military budget at a time when the joint chiefs aren't asking for it. They wouldn't claim we need to cut taxes today. I don't know about you guys, but when I'm facing a gap in my finances, I cut expenses, not income.