US '13 days from financial disaster'

[Illuminate]

AMERICA is 13 business days from an unprecedented default on its national debt that could tip the country back into recession and set off a new financial crisis if not averted with increased borrowing, President Obama believes.

Backed by Wall Street but facing deadlock in Washington, a visibly angry Mr Obama walked out of a fourth day of debt crisis talks this week after saying he would risk his presidency rather than accept Republican demands.

http://www.theaustralian.com.au/news/world/us-13-days-from-financial-disaster/story-e6frg6so-1226095186195

Ratcheting higher the pressure on Washington to strike a deal, Standard & Poor's for the first time said there was a 50% chance it would downgrade its rating of long-term U.S. debt within three months because the chances of default were "increasing" and the political debate about deficit reduction and the debt ceiling had "only become more entangled." The U.S. has had a AAA bond-rating from S&P for 70 years.

http://online.wsj.com/article/SB10001424052702304911104576445731595487202.html?mod=WSJAsia_hpp_LEFTTopStories

I love the AAA bullshit everyone is concerned about. Means jack shit.

So any thought's American MS'ers?

[res0nat0r]

Re: US '13 days from financial disaster'

The Republicans are going to drag this out to the wire and say they were trying their best against the Democrats...whatever they do they seem like they'd rather see the country go into default so they can see Obama fail than anything else. The whole mess is fucking retarded. Everyone needs to quit being bitches and give shit up. Everyone in the country is going to have to pay up if this is ever going to subside.

Yes taxes need to be raised to pay for this, yes gov't spending needs on bullshit needs to be cut. If these idiots can't get anything done it would be great to shitcan them all.

[floridaorange]

Re: US '13 days from financial disaster'

I hate to put it like this because of recent events on here but the Republicans are most assuredly trolling the American people and the Obama admin.

[res0nat0r]

Re: US '13 days from financial disaster'



yeah they will go down to the wire and say that Obama wouldn't compromise at all, it is all about making him fail at whatever cost. If really it comes to that and the US gets into the shit, then it just shows how totally screwed up Washington is...and it's never going to change honestly...

[Garrick]

Re: US '13 days from financial disaster'

maybe something like this needs to happen... fuck our govt. i'm sick of both parties.

[res0nat0r]

Re: US '13 days from financial disaster'

^i'd say the same, but it will prob just be everyone who is fucked by the downturn of the economy, and those idiots will keep on doing what they are doing. nothing...

[res0nat0r]

Re: US '13 days from financial disaster'

^i'd say the same, but it will prob just be everyone who is fucked by the downturn of the economy, and those idiots will keep on doing what they are doing. nothing...

[Illuminate]

Re: US '13 days from financial disaster'

This sounds like an official Obama scare campaign?

[res0nat0r]

Re: US '13 days from financial disaster'

eh? uh this is is a real problem for everyone...

[Illuminate]

Re: US '13 days from financial disaster'

Governments.
The problem of every solution.

Would like to know how much they're going to raise the taxes up by.

[stephen028]

Re: US '13 days from financial disaster'

To me it is ludicrous that we can push for cuts in medicare and social security, while the richest 2% continue to receive their tax breaks. Anyone that supports the old and sick to pay for the problems that business created is morally bankrupt. Government is the problem insofar as they allow the wealthy to line their pockets at the middle-class expense. The only recourse to business doing these things is government. I agree that there needs to be less wasteful spending in Washington, but know that wasteful spending is not a product of short-sightedness or stupidity. It is a sign of corruption in your government. When business interests inflitrate your goverment it is always corruption to a greater or lesser degree. This is the most glaring conflict of interest to any politician that claims to serve the country. There needs to be a seperation between business and governemnt much like church and state. I wonder how people feel knowing that the gap between the classes is wider than its been since.....um 1929. Record unemployment, record profit margins, think there might be a connection?
While the democrats hands are by no means clean, the republicans have revealed themselves as the advocates for big business. Throughout the entire debt talks the republicans have not shyed away from making the middle-class and poor as well as the sick and elderly from being entirely responsible to clean-up this economic mess while defending the richest in this country from paying the taxes that they are SUPPOSED to?
This should be tantamount to political suicide imo, but the american public has been sold that gov. is the problem(once again, insofar as they have allowed business to create the mess they have, through corruption)
Guess what republicans? If you're rich and support this party, you are morally (not finacially) bankrupt, if you're not rich, you've been duped. You are accepting responsibilty for their mistakes. You pay while they profit, but thats ok cause u can still pick on the blacks and mexicans.
When presentation wins over content, you get exactly the politicians you deserve.

[stephen028]

Re: US '13 days from financial disaster'

According to Mitch McConnell, the number one priority for the republican party is making sure Obama does not get a 2nd term.. Obamas second term rests entirely on the progress he makes with the economy. Connect the dots. The success of the republicans is the failure of our economy. Plus their constituents get richer in the mean-time. Win-win.

[res0nat0r]

Re: US '13 days from financial disaster'

^yup

[stephen028]

Re: US '13 days from financial disaster'

Hi, Res0nator.

[res0nat0r]

Re: US '13 days from financial disaster'

wuttup