Showing posts with label Default. Show all posts
Showing posts with label Default. Show all posts

Wednesday, October 16, 2013

Senate & House Vote: Debt Ceiling Lifted, Shutdown Over

"We had to do this" was a refrain often uttered in response to why this ridiculous, self-inflicted dual crisis has overtaken everything in the last three weeks. It's a shitty answer. Because, beyond the desire to shut down the government, and the desire to refuse to raise the debt ceiling, I've yet to hear a coherent envisioned end-game to all of this from the GOP.


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We know that a) they despise the President, in a white-hot, irrational way; b) Democrats are a proxy for the President, and thus compromise with them is tantamount to making a deal with the Devil; and c) because of a and b, they despise "ObamaCare." That's just a taste of their motivations of course, and already there are multiple problems with their so-called reasoning. Chief among them was the fact that the Affordable Care Act is already law, passed by Congress, affirmed by the Supreme Court and vindicated by Obama's re-election. It doesn't have a blessed thing to do with the continuing budget resolution or the debt ceiling. It was also a non-starter, non-negotiable to both the President and the Senate.

So, the reasoning for why the government was shut down, and the debt ceiling default imminent, kept shifting. The demands kept changing, and like Bette Midler in Ruthless People the ransom kept going down. All along, the votes have been there in the House for a clean budget bill and debt ceiling raise. John Boner Boehner was just unwilling to do so. I have to wonder what he's worried about. Who would want to lead these people?

[Excerpt]

ALL ABOARD: CONGRESS PASSES BILL TO REOPEN GOVERNMENT

After weeks of stalemate that shuttered the government for 16 days and brought the nation within hours of a key deadline to renew its borrowing authority, the standoff is finally over.
The House passed a bill 285-144 late Wednesday night to re-open the government and extend the debt ceiling until Feb. 7.  That vote came hours after the Senate approved the measure 81-18. . .

Read more at: NBC News
 

Why The GOP Followed Ted Cruz to the Cliff

He can't be the Anti-Christ, he's not likable enough. But good LORD
this man takes a creepy picture. Image from ThinkProgress
Oh Papa Tooney. We've got a Looney. Ted Cruz and his followers are apocalyptic nuts. I mean, that's not entirely a surprise, but to see it all laid out like this. . .

[Excerpt]

Read This One Document If You Want To Understand Why Republicans Followed Ted Cruz Off A Cliff

“These are extraordinary times,” Sen. Ted Cruz (R-TX) told the Values Voters Summit on Friday morning, and “the challenges facing this country are unlike any we have every seen.” He was speaking to a relatively small group of religious conservatives, but he might as well have been speaking for the two dominant wings of the Republican Party base. Indeed, understanding the siege mentality that’s captured both of these wings of the GOP is the key to understanding Cruz’s success in shutting down the government. . .

Read more at: Think Progress

Tuesday, October 15, 2013

Louie Gohmert Wants to Impeach Obama for Congress Defaulting

The face of a Republican hero. Mindboggling.
Image from DailyKos
This is just so idiotic. Of course, if Louie Gohmert is involved it is--by definition--idiotic. But I mean, come on.

[Excerpt]

Louie Gohmert: A Debt Default Is 'An Impeachable Offense By The President'

Rep. Louie Gohmert (R-Texas) isn't sure whether he'll support a debt limit deal, but he is sure of one thing: a debt default would be President Barack Obama's fault. A reporter for The Young Turks asked Gohmert whether he'd support a bill that would raise the debt ceiling at the Values Voter Summit on Friday. "The word 'deal' concerns me," he said. "If it's good for America. . ."
 
Read more at: Huffington Post

Saturday, July 12, 2008

Indy Mac: Never Heard of it, but This Sounds Bad


Photo from source, LA Times

Runs on banks were taught to us back in social studies classes, along with trust busting, robber barrons and such. More and more, current American news resembles my old elementary and junior high school history lessons.

Republicans are currently still holding onto deregulation and corporate allegiences. The economy gets worse and worse. Mergers and corporate conglomerations are of no concern, and in the interest of a "free market." But does anyone else see parallels to early 20th century capitalism run amok? This is starting to look like a case of "history repeating."

[Excerpt]

IndyMac Bank seized by federal regulators

The federal government took control of Pasadena-based IndyMac Bank on Friday in what regulators called the second-largest bank failure in U.S. history.Citing a massive run on deposits, regulators shut its main branch three hours early, leaving customers stunned and upset. One woman leaned on the locked doors, pleading with an employee inside: "Please, please, I want to take out a portion." All she could do was read a two-page notice taped to the door. . .

Read more at: Los Angeles Times
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