US companies are hoarding some cash in preparation for the possibility that no debt limit deal is reached by next Tuesday, as well as lining up additional sources of financing in case the credit markets suffer. But executives are going way too far by blaming the debt limit crisis for things that were in place well before this was thought to be an issue.
Companies Lament Political Uncertainty; The Certainty of Austerity Should Worry Them, Too |
| By: David Dayen Wednesday July 27, 2011 6:25 pm |
Boehner’s Bill Gets Re-Score By CBO; Dems United Against It in the Senate |
| By: David Dayen Wednesday July 27, 2011 5:38 pm |
The Senate Dems are careful to lay out really the only objection, the only actual difference, between the Reid and Boehner bills: one raises the debt limit by $2.7 trillion up front, and the other only raises it by $1 trillion. That’s it. Boehner’s plan can’t pass the Senate and has drawn a veto threat. Reid’s plan can probably get a majority in the Senate, but might not be able to clear a filibuster. In the House, it would probably get a lot of Democratic support, but Boehner wouldn’t bring it to the floor in its current form.
9/11 Workers with Cancers Enter Kafkaesque Nightmare |
| By: Jon Walker Wednesday July 27, 2011 4:51 pm |
Now, the only scientific proof we will have that this exposure caused certain rare cancers is if we see very high rates of said cancers among the workers. The only way any 9/11 related cancers are going to be covered is if large numbers of workers, who are first denied help paying for their treatments, develop these cancers. Once enough workers suffer without, then we might have the scientific proof that they actually deserved help in the first place. Hello Kafka.
Rating Agencies, Catfood Commission II and the Next Stage of Shock Doctrine |
| By: Jon Walker Wednesday July 27, 2011 4:04 pm |
Just because our most popular social safety net programs escaped this current round of shock doctrine doesn’t mean the basic formula won’t be recycled in the near future to justify cutting these programs.
Iraqi Foreign Minister Hints at Continued US Presence |
| By: David Dayen Wednesday July 27, 2011 3:17 pm |
I think we’re reaching a semantic game with respect to the US military presence in Iraq. The political community just won’t ask for an extension of military troops. But the leadership appears to be falling back to allowing trainers to work with Iraqi security forces. That’s what Iraqi Foreign Minister Hoshyar Zebari seemed to be saying today.
Meet the Man Who Could Decide the 2012 Presidential Election: Standard and Poor’s David Beers |
| By: Jane Hamsher Wednesday July 27, 2011 2:30 pm |
Why is Standard and Poors out in front of all the other credit ratings agencies in pointing a gun at the US debt rating? Because a guy named David Beers says so.
Krugman on the Debt Debate: Cults, Centrism and Balance |
| By: Scarecrow Wednesday July 27, 2011 1:45 pm |
It’s not just the media’s cultish addiction to some perverted “centrist” view. It’s also the media’s unwillingness to explain that when the President and Congress use terms like “balanced” or “shared sacrifice,” they don’t mean what you think they mean.
Absence of Progressive Economic Opinion Puts Country in Straitjacket |
| By: David Dayen Wednesday July 27, 2011 1:00 pm |
To those who want to say that the President is making the best of a bad situation, THIS is the problem. It changes the entire dynamic of the realm of possible economic solutions for the next decade or more. And when the economy suffers from austerity, since a Democrat basically called for it, that’s who will be blamed.
A National Call-In Day for Bradley Manning |
| By: Kevin Gosztola Wednesday July 27, 2011 12:15 pm |
The Bradley Manning Support Network has put together a call-in day for those who wish to show their support for the accused whistleblower to WikiLeaks, Pfc. Bradley Manning. The Manning Support Network, an international grassroots organization that for months now has been organizing in support and for the legal defense of Manning, is urging supporters to call President Obama at the White House and also call the Secretary of the Army John McHugh.
Push for 14th Amendment Solution Grows Stronger |
| By: Jon Walker Wednesday July 27, 2011 11:30 am |
For weeks the White House has downplayed this as an option, but it is hard to believe Rep. Clyburn would make a public statement like this without the tacit approval of President Obama.


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