What happens on Thursday and what are the risks? The Treasury Department and Wall Street gird for the worst.
October 16th, 2013
08:33 AM ET
7 years ago
Debt ceiling countdown: What happens next
New York (CNNMoney) - Thursday, October 17, is now just hours away.
And Congress still has not raised the country's debt ceiling.
At this point, there's a very good chance it won't make the Thursday deadline.
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The Tea Party will do everything they can to make sure that we catapult over the financial cliff. They campaigned on never raising the debt limit, folks.
The country faces the reality it should have faced 5 yrs. ago.
Rick McDaniel
The country faces the reality it should have faced 5 yrs. ago.
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Let's see, now. Five years ago the Bush administration was giving away at least $700 billion to banks with no conditions attached. Word of honor system. Conclusion. Republicans are the real big spenders and ignore The People.
Every economic disaster in the last 85 years has been caused by the republicans. I can't help but wonder if right wing nut jobs will realize that this economic disaster could have been avoided if the congressional drunk would have allowed the CR to be voted on. Boehner and the baggers own this one!
Your right Rick, 5 years ago we should have paid more attention to the far right so we could have stopped them in 2010, before they did all this damage.
Rick – Is it safe to presume you are one of those RWNJs who would rather see America destroyed than recover from republican crazieness.
Wire Palladin, S. F.
I've been meaning to welcome you back Wire!!
You've been missed!
Dominican – Thanks. I really appreciate your kindness. Its usually late when I get to read the posts, and I enjoy your efforts along with Rudy, Sniffit, Lynda and the others.
What has been taking up my time is the 2014 midterms. We have a crazy wing nut representing Lee County, FL. His name is Trey Radel, and he is like the cancer that King, Bachmann, Gomert, and Cruz represent. We had an opportunity to elect a combat veteran in 2012, but instead, we got this imbecile.
Thursday marks the day the Treasury Department will run out of special accounting maneuvers to keep the nation under the legal borrowing limit.
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I've done "special accouting maneuvers" at my desk to see who's going to get paid during certain tight months.
I gotta tell you it is really, really comforting to know that one of the world's leading economies and industrialized nation implements the same "borrow from Paul to pay Peter" economic principles that us regular Joes have to resort to from time to time.
NOT.
Put the clean CR up for a vote John Boehner and let's stop embarrassing ourselves in front of the whole world.
What will it take to to reach any agreement in government without hurting the American way of life? Do we still have the freedom to live the American Dream ?
What has been taking up my time is the 2014 midterms. We have a crazy wing nut representing Lee County, FL. His name is Trey Radel, and he is like the cancer that King, Bachmann, Gomert, and Cruz represent. We had an opportunity to elect a combat veteran in 2012, but instead, we got this imbecile
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Time well spent then. I wish you the very best of luck in your efforts. It is commendable that you not only talk a good game but are willing to do the ground work necessary to effect the change you seek.
Bravo and again good luck to you and the state of Florida.
Rich
What will it take to to reach any agreement in government without hurting the American way of life? Do we still have the freedom to live the American Dream ?
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Sorry, but the American dream is no longer what it used to be. It is now on life support. Reaganomics marks a new strategy in the right wing's war on the middle class. If losing 8 million manufacturing jobs during the 2000s, the ongoing mortgage crisis, and the Great Recession didn't kill the American Dream, then the Tea Party's obstructionism during the economic recovery will be the final nails in the coffin.
Insuring the economic stagnation of the poor also insures that fewer and fewer people will climb the economic ladder, while also making sure that those who slip a few rungs can never make it back up.