New York (CNNMoney) - The congressional debt committee's failure likely won't be a disaster for the markets or the economy. But it is a warning signal to both.
"The failure does illustrate yet again the inability of Congress to take the tough decisions to put the federal finances on a sustainable path over the medium term," Capital Economics said in a research note.
Debt committee failure red flag for investors NO
Investors won’t stop lobbying they will continue they want committee fail
Why are the markets reacting badly? Because the markets know that the government spending cuts will mean significant less spending. They know that less spending means reduced demand for goods and services, which spells trouble and higher unemployment.
This is exactly whywe need Term Limits on these guys. They do not feel accountable to anyone but themselves. This is what we get when we have lawyers running the show for the past 200 years. Lawyers do not understand the priciples of leadership, sacrifice to a bigger goal than themselves and, most of all, ACCOUNTABILITY. Make their healthcare, social security just like ours; make their retirement like the private sector; prosecute them for all laws that apply to us (put them in jail if they don't pay their taxes or do insider trading); and I even like Rick Perry's restriction on the number of days Congress is in session. 100 days per should be the most. This is the time to clean up this house of ours. I would vote for a Term Limit Amendment in a heart beat.
Don't forget to report on the FACT that the GOP members of the Stupid Committee were adamantly insisting on cuts to the ACA and privatizing Medicare and SS during negotiations. Wouldn't want them to be able to pretend they weren't demanding all sorts of exrtemist nonsense, like Ryan's CouponCare Crapshoot, would we? Oh wait...you WOULD? Hmmm...how much advertising revenue has CNN accepted from Crossroads anyway?
Is it just me, or does the kippah (Jewish head covering) look like it was photoshopped on?
Ari Fleischer is a hack. He won't let facts keep him from singing the party line though What they should have done is put 50 of each party on the super group and let each party take off 44 of the other parties people. The 12 remaning might be less party and more country loyal! The oath is to the country not the party!
Rudy, Govt spending does not drive our economy....the private sector does. We cannot continue to demand more govt spending to spur the demand side of the economy. The govt spending more and more only convinces the private sector that taxes will have to go up astronomically to pay for it.
I love how everyone is talking nonstop about Congress now. Where is the presidents leadership on this. He keeps calling for something to be done then just sits back and watches. What was the Democrat controlled congress doing for 4 years?
President Obama is the worst leader in the history of our country and deserves to be voted out of office.
The GOP entered the super committee with an agenda to fail at all cost, in order to hold the economy down. Their agenda since the 2010 elections is to stifle the economy until the 2012 election, no matter how many American families suffer for it. "Politics Over People" remains their hidden motto.
I m respecet first presdient george washington than presdient obama are real problems for 4 years
Party politics again! The oath is to the country not the party! Take 100, 50 of each party and let each remove 44 names and the 12 remaining wiil hopefully do what is right for the country not the party.
Presdient obama are keep lots blame on repulbican for 4 years
Presdient obamas wild crazy lot spending alright ???????????