No deal on debt ceiling
July 24th, 2011
09:16 PM ET
7 years ago

No deal on debt ceiling

NEW YORK (CNNMoney) - The day started with congressional leaders trying to resolve the dangerous impasse over the debt ceiling - and calm any anxiety markets may have when they reopened Monday.

It ended in a continuing impasse, with each party sketching out their own plans and showing little common ground.


Filed under: Congress • Debt • Deficit
soundoff (14 Responses)
  1. Annie, Atlanta

    Mitch McConnell said the #1 goal of the Republicans was to make sure Obama was a one term president. It has now become as plain as the nose on my face that these people will absolutely destroy our economy to make sure that happens. I don't know what we call this, terrorism, treason, sedition, or a combination of both, but they should be put on trial as enemies of the state.

    July 24, 2011 09:23 pm at 9:23 pm |
  2. Alex

    If the U.S. defaults, I really hope Obama decides to use congresses paychecks to fund something useful, because obviously congress is a government program that can be cut significantly. Obama needs to enoke the 14th ammendment, and I mean soon. I am sick of the Tea party holding my government hostage, the President of the United States responsibility is to look out for America.

    July 24, 2011 09:38 pm at 9:38 pm |
  3. SA in OO

    "Ship of fools"

    For more than a decade we have funded an unsustainable increases in every aspect of our lifestyle (at least for the upper half of the economic ladder), through debt. Now the population thinks these gains are an entitlement that we earned, and are unwilling to give anything up. Hello – you didn't pay for the boom years. China owns your markers.

    We deserve to go into serious and sustained decline. It won't be pretty and unfortunately the poorest will be hurt the most, but as a nation we deserve the fait we are about to be subjected to as the world finally figures out that they really don't have to continue to fund our excesses.

    July 24, 2011 09:41 pm at 9:41 pm |
  4. fayse

    Both Party's need to stop this Political bickering and get it done. I truly believe that the majority of Americans would agree that we do need to end the loopholes for the very rich and we need to curb the spending. The economy of the USA is too fragile to be put at risk like this. Does the Congress and the Senate not understand that for all of their political pandering, if the USA goes into default, each and every one of them will be voted out in 2012? The USA is divided, the House is divided and we all know what that means. United we stand, divided we fall. This issue is too big and the stakes are too high. Get it done already. And for all of those GOP candidates are so stupid that they have vowed to vote against raising the debt ceiling, they do not deserve to be considered to run the Country. I am tired of all of the sniping and posturing. We the American people are the ones that have the most to lose.

    July 24, 2011 09:50 pm at 9:50 pm |
  5. SecedingfromTexas

    I look at these pictures (CNN has great ones) of our buildings in Washington, DC. They are so beautiful, magnificent,
    and they make me so proud of America. I also look at these buidings and think, how could our "elected"
    Congress not walk up the steps of each and every one, and know how priviledged they are to be a part of the
    workings of this Government, and why they don't thank God, and then do everything they can to save this Union,
    is beyond me. They don't seem to consider who has hired them, and who pays for their beloved perks.
    Their "pledges" to others, who are not elected officials makes my skin crawl. America the Beautiful has become
    an ugly display of greed, selfishness, idiocy like I have never seen. All of this manipulation and filibustering,
    without one word about our military still putting their lives on the line so these pissants can stuff their pockets and
    egos makes me ashamed of them. I

    July 24, 2011 09:53 pm at 9:53 pm |
  6. TEW

    The GOP driven by those fanatical T-Party maniacs are driving the country over a cliff. The speaker of the house is NOT the leader of the GOP instead its Norquist and Cantor driven by some misguided pledge. America is fast becoming the joke of the world as the elected officials on the GOP side would rather ruin the country and the middle class then see a minority president succeed at anything. I used to tell my kids that if you studied hard and focused on your goals they could be anything including President of the US. I now have to amend it to exclude President unless you are not a minority and prescribe to the wacked out ridiculous right wing agenda. So much for being a proud American

    July 24, 2011 10:06 pm at 10:06 pm |
  7. Mikey

    It is impossible to compromise when one side simply refuses to do so. The only good thing is that the voting public, by a wide margin, knows who is primarily responsible for this mess. If they take us over a cliff, we the people can vote them out of office in droves. The GOTP is a scurge on America.

    The President is offering a compromise more generous than anyone could have predicted and Boehner, Cantor and the Tea Party idiots are too wrapped up in their estreme ideology to recognize it. I hope they will have the class to take responsibility for the consequences of their actions, but I know better. They behave like irresponsible children.

    July 24, 2011 10:22 pm at 10:22 pm |
  8. Marn7271

    The republicans have to go !

    July 24, 2011 10:27 pm at 10:27 pm |
  9. Rev Mkell,

    Let me guess the GOP/Tea Party say it's all the black guys fault and the Dem. say it's all the Tea Party's fault! Maybe it's our fault for electing these clowns! BUT WE CAN FIX THAT!!

    July 24, 2011 10:32 pm at 10:32 pm |
  10. Charlie in Maine

    The Tea Party is to blame. 20% of a party that is about 35% of registered voters is holding our ecommnomy hostage. Wake up America. If the GOP won't stand up to this minority un-American bunch of idiots then we must vote them out of office.

    July 24, 2011 10:42 pm at 10:42 pm |
  11. Russell Brown

    The operative assumption is that someone
    somewhere has a better idea and the operative
    compulsion is to find out who has that better idea
    learn it and put it into action fast;
    patience and perseverance have a magical effect
    before which difficulties disappear and obstacles vanish.
    The greatest thing in this world is not so much where
    we are but in which direction we are moving .

    July 24, 2011 11:50 pm at 11:50 pm |
  12. rs

    Send McConnell and Boehner to Gitmo for a few days for un-American activities and terrorist acts. They"l quickly come around to negotiate.

    Republicans- God's own joke on politics

    July 24, 2011 11:56 pm at 11:56 pm |
  13. Russell Brown

    In tribute to the founding fathers of this blessed republice;
    may we strive to keep these united states forever righteous
    and just.
    may ours be a land where none shall prey upon or exploit
    his fellowman where bigotry and violence shall not be tolerated,
    where poverty shall be abolished and all men live amicably
    as brothers.

    July 25, 2011 12:03 am at 12:03 am |
  14. Rob R

    I know this may sound harsh, but I think President Obama should let the country go into default if the Republicans won't move toward the middle on this. Here's why: if the only deal the Republicans are willing to offer are short term increases with ONLY spending cuts, then Obama loses because 1) the Dems will be (rightly) furious that only middle/working class people will be required to suffer even more while the super rich get off scot free again. 2) the debt ceiling issue will continue to loom over the election forcing Obama to deal more with that, then on unemployment which will play into the Republicans hands.

    Now, if Obama holds steady and refuses to sign anything that doesn't extend the debt ceiling into 2013 then the Republicans are FORCED to take significant ownership of the issue. Yes, Obama will take some flak over it by virtue of him being the president, BUT the American people have demonstrated over and over again that they FAVOR a balanced approach of cuts AND tax increases on higher incomes.

    As long as Obama continues to embrace that middle of the road approach, he will continue to appear above the fray, while the Republicans can easily be assigned most of the blame for being intransigent and too stubborn to compromise. It's a losing argument for Republicans because most people in this country cannot sympathize with billionaires while they are forced to give up what little they have left of their middle class lifestyles.

    I don't want to see us default, but the president should not be forced to accept 100% of Republicans demands while getting 0% of his own in return. Democrats control more of the government that Republicans do – so Republicans are in no position to demand that they get everything and Dems get nothing.

    July 25, 2011 07:55 am at 7:55 am |