After wasting everyone’s time and money for 16 days, Speaker Boehner and the House Republicans caved in and reopened the government and raised the debt ceiling. Now we return to the brutal austerity of the Budget Control Act of 2010, in losing the Republicans have won. Although part of the deal to reopen the government included allowing special interests to tailor the sequester cuts to the poor and powerless as part of a joint committee between the House and Senate. So things are actually going to get worse for most people.
|By: Elliott Wednesday October 16, 2013 5:22 pm|
As the Senate passes the measure to reopen the government and raise the debt ceiling, the president will address the press.
|By: letsgetitdone Wednesday October 16, 2013 4:25 pm|
If the President is obligated to obey the 14th amendment, then he should be doing whatever he can to use the other options to end the debt ceiling crisis. He should not be playing chicken with the Republicans over the debt ceiling and the shutdown. Both are dangerous to the economy, and there is a real risk of default in allowing the Treasury’s daily available balance to fall to the level it will be at as of October 17th.
|By: DSWright Wednesday October 16, 2013 12:25 pm|
In a cheerful press conference today Senator Ted Cruz said he would not try to stop a bill reopening the government and raising the debt ceiling from passing the Senate. It would seem that Senator Cruz should be in a more sour mood given that his plan to stop Obamacare is set to be thwarted. Things really seem to be going poorly for Cruz as the Houston Chronicle, one of his home state’s most prominent papers, took back its endorsement of him.
|By: DSWright Wednesday October 16, 2013 6:44 am|
Yesterday, in stunning display of incompetence, Speaker Boehner was unable to find enough Republican votes to pass the Senate negotiated compromise to end the shutdown and raise the debt ceiling. Rather than simply letting the House vote on the bill where it likely would have passed due to Democratic votes, Boehner pulled the bill.
|By: DSWright Tuesday October 15, 2013 11:59 am|
The truth is the US government has already defaulted on promises it has made to its own employees and the damage to America’s reputation or credit from even flirting with a default are severe. The rest of the world has taken notice of the incredible political instability in Washington and faithfully begun planning to create a new world financial order that does not grant the US such privileges.
|By: DSWright Tuesday October 15, 2013 6:59 am|
As we enter day 15 of the government shutdown and Republican poll numbers are dropping out of the sky a deal is reportedly developing in the Senate to end the shutdown and raise the debt ceiling. The deal funds the government until January 15th and raises the debt ceiling until some time in February – the 7th or possibly the 15th.
|By: DSWright Monday October 14, 2013 10:03 am|
Over the weekend there were right-wing protests outside the White House over the closing of war monuments and other national landmarks called the “Million Vets March On The Memorials.” This is particularly ironic given that the closings were a result of the Tea Party faction of the House GOP shutting down the government. Nevertheless, some of the actions and claims made by the protesters were truly odd including the claim by one of the speakers that President Obama “put the Quran down.”
|By: DSWright Monday October 14, 2013 6:40 am|
As we enter day 14 of the federal government shutdown the Republicans have moved the goal posts from delaying Obamacare to getting a deal on spending and entitlement cuts. The debt ceiling is expected to be breached in a few days (October 17th) which could cause some serious pain in the financial markets if not outright collapse pending on how long it lasted. Current negotiations to end the shutdown and raise the debt ceiling are reported to be including a discussion on ending sequestration and restoring former spending levels to federal programs.
|By: letsgetitdone Sunday October 13, 2013 1:00 pm|
But what happens if the assets are sold to one or more of the regional Fed Banks. These are agents of the Federal Government, but they privately owned.