Will the US default on 2nd August??

Some news reports from around the web, the last is rather interesting I have posted the relavent bit

Will the U.S. Face Crisis If Debt Ceiling Is Not Raised?

Will the U.S. Face Crisis If Debt Ceiling Is Not Raised?, Christian News

Boehner Plan Would Increase Debt To $23.7 Trillion In 10 Years

Boehner Plan Would Increase Debt To $23.7 Trillion In 10 Years | Politicons

IMF chief warns on US default’s far-reaching impact

IMF chief warns on US default’s far-reaching impact | euronews, economy

Companies Bracing for U.S. Default .

Companies Bracing for U.S. Default - WSJ.com

U.S. debt default would harm nation, individuals

U.S. debt default would harm nation, individuals

FTSE down as financials suffer on U.S. debt fears

FTSE down as financials suffer on U.S. debt fears | Reuters

Oil prices to surge if US defaults on debt

Oil prices to surge if US defaults on debt - Arab News

NZ faces collateral damage from debt crises

NZ faces collateral damage from debt crises | Stuff.co.nz

China’s hands tied on U.S. debt threat
Beijing worried about downgrade, but can do little for now

China

This bit from the last link also makes for interesting reading

In the past, China has sometimes managed to get its way with Washington. In 2008, for instance, Beijing reportedly pressured the then-Treasury secretary Henry Paulson to make sure Freddie Mac and Fannie Mae bondholders — of which China was a major one — wouldn’t take a bath on the paper


What are your thoughts on it?

 

What not a single one of you cares to comment on the largest finacial and political story sweeping the world at the moment?

 

Barring an executive order intervening, it will default. The question is whether or not Obama will do so. The right wing is perfectly fine with default. It insures future cheap labor.

 

Yet the Dow is down for the fourth straight session, the Nasdaq was down most European markets were down about the only real winner at the moment is the parent group of Dunkin' Donuts up 51% Even the Euro jumped against the US $!! and the £ is up against it as well heck even the NZ $ is

 

This entire manufactured crisis comes down to two words....Tea Party. 87 House Republicans that will can John Boehner if he even looks like he'll compromise. The debt ceiling has never been an issue in the past and raising the debt ceiling doesn't create one new government program, doesn't spend any additional money, and doesn't raise our taxes. It only allocates money for things that we have already bought like wars, Medicare Part D, and tax cuts. This was never a crisis until all the political agendas were attached to the bill raising the debt ceiling. You could pass a debt ceiling increase in 10 minutes if you didn't attach any conditions nor any political platform goals. 87 House Republicans simply refuse to do their jobs and meet this country's financial obligations. This is what happens when extreme ideology meets reality.

 

Barack Obama

 

I do not think we will default. If we do, what comes out on the other side may not be recognizable and we will have done it to ourselves for no reason. But, I also do not think our politicians have the backbone to take the meaningful steps to solve our problems. So we will probably get a weak deal, get our rating downgraded and be worse off than we were to begin with.

 

Riiiiiight! Another post with zero critical thinking involved. It seems to be your forte. If this crisis is manufactured by the president, explain the war in the GOP ranks.

House Republicans on Wednesday morning were calling for the firing of Republican Study Committee staffers after they were caught sending e-mails to conservative groups urging them to pressure GOP lawmakers to vote against a debt proposal from Speaker John Boehner (R-Ohio).
Infuriated by the e-mails from Paul Teller, the executive director of the RSC, and other staffers, members started chanting “Fire him, fire him!” while Teller stood silently at a closed-door meetings of House Republicans.
“It was an unbelievable moment,” said one GOP insider. “I’ve never seen anything like it.”
An RSC aide sent a Tuesday e-mail to outside conservatives seeking to “kill the Boehner deal.” The RSC emails were sent to a listserv with conservative activists.
“We need statements coming up to the Hill every hour of the day in mounting opposition to the plan,” RSC staffer Wesley Goodman wrote to a Google email group called “CutCapBalance.” That group included Teller.
RSC Chairman Jim Jordan (Ohio), who opposes the Boehner plan, apologized for the incident.
Teller did not respond to a request for comment following the GOP Conference meeting.
In a brief interview with POLITICO on Wednesday, House Majority Leader Eric Cantor (R-Va.) said he’s “an RSC member and I don’t like to see Republicans attacking other Republicans.”
Read more: GOPers chant 'fire him' at RSC staffer - John Bresnahan and Jake Sherman - POLITICO.com

 

What else do you expect from people that believe that government is the problem then get elected to prove it.

 

And then there is this....

Speaking on the Senate floor on Wednesday, Sen. John McCain (R-Ariz.) had some harsh words for lawmakers on Capitol Hill insisting their demands be met before supporting any potential agreement to raise the debt ceiling.

A plan put forth by House Speaker John Boehner to lift the deficit limit has left some congressional Republicans at odds with members of their party. In the upper congressional chamber, Tea Party-affiliated members such as Sens. Jim DeMint (R-S.C.) and Mike Lee (R-Utah) have come out against the proposal. In the House, GOP lawmakers such as Rep. Michele Bachmann (R-Minn.) have vowed to cast a vote against any measure to raise the debt ceiling. All three Republicans stand behind a "Cut, Cap, and Balance" pledge, which entails opposing any debt limit increase without significant spending cuts, enforceable spending caps and congressional approval of a balanced budget amendment.

 

And just what has BO proposed? OH! I remember, "a balanced approach". (My interpretation, they pay for what BO wants.) Great specifics there.

 

BTW, I am glad to see you finally got my quote correct in your signature, but now you have to work on that link. Presently that takes me to post #6 07-23-2011 01:01 PM. Not everyone has the same page configuration as you. Let's see if the doctor can figure that one out.

 

Well if you want to see how President Obama was going to divide his budget up that was easy to find simply click on the following link (took me all of 2 mins to find)

The President's Budget for Fiscal Year 2012 | The White House

 

Just curious, is that the budget that the Senate rejected 97-0?

Alphabetical by Senator Name
Akaka (D-HI), Nay
Alexander (R-TN), Nay
Ayotte (R-NH), Nay
Barrasso (R-WY), Nay
Baucus (D-MT), Nay
Begich (D-AK), Nay
Bennet (D-CO), Nay
Bingaman (D-NM), Nay
Blumenthal (D-CT), Nay
Blunt (R-MO), Nay
Boozman (R-AR), Nay
Boxer (D-CA), Nay
Brown (D-OH), Nay
Brown (R-MA), Nay
Burr (R-NC), Nay
Cantwell (D-WA), Nay
Cardin (D-MD), Nay
Carper (D-DE), Nay
Casey (D-PA), Nay
Chambliss (R-GA), Nay
Coats (R-IN), Nay
Coburn (R-OK), Nay
Cochran (R-MS), Nay
Collins (R-ME), Nay
Conrad (D-ND), Nay
Coons (D-DE), Nay
Corker (R-TN), Nay
Cornyn (R-TX), Nay
Crapo (R-ID), Nay
DeMint (R-SC), Nay
Durbin (D-IL), Nay
Enzi (R-WY), Nay
Feinstein (D-CA), Nay
Franken (D-MN), Nay
Gillibrand (D-NY), Nay
Graham (R-SC), Nay
Grassley (R-IA), Nay
Hagan (D-NC), Nay
Harkin (D-IA), Nay
Hatch (R-UT), Nay
Heller (R-NV), Nay
Hoeven (R-ND), Nay
Hutchison (R-TX), Not Voting
Inhofe (R-OK), Nay
Inouye (D-HI), Nay
Isakson (R-GA), Nay
Johanns (R-NE), Nay
Johnson (D-SD), Nay
Johnson (R-WI), Nay
Kerry (D-MA), Nay
Kirk (R-IL), Nay
Klobuchar (D-MN), Nay
Kohl (D-WI), Nay
Kyl (R-AZ), Nay
Landrieu (D-LA), Nay
Lautenberg (D-NJ), Nay
Leahy (D-VT), Nay
Lee (R-UT), Nay
Levin (D-MI), Nay
Lieberman (ID-CT), Nay
Lugar (R-IN), Nay
Manchin (D-WV), Nay
McCain (R-AZ), Nay
McCaskill (D-MO), Nay
McConnell (R-KY), Nay
Menendez (D-NJ), Nay
Merkley (D-OR), Nay
Mikulski (D-MD), Nay
Moran (R-KS), Nay
Murkowski (R-AK), Nay
Murray (D-WA), Nay
Nelson (D-FL), Nay
Nelson (D-NE), Nay
Paul (R-KY), Nay
Portman (R-OH), Nay
Pryor (D-AR), Nay
Reed (D-RI), Nay
Reid (D-NV), Nay
Risch (R-ID), Nay
Roberts (R-KS), Not Voting
Rockefeller (D-WV), Nay
Rubio (R-FL), Nay
Sanders (I-VT), Nay
Schumer (D-NY), Not Voting
Sessions (R-AL), Nay
Shaheen (D-NH), Nay
Shelby (R-AL), Nay
Snowe (R-ME), Nay
Stabenow (D-MI), Nay
Tester (D-MT), Nay
Thune (R-SD), Nay
Toomey (R-PA), Nay
Udall (D-CO), Nay
Udall (D-NM), Nay
Vitter (R-LA), Nay
Warner (D-VA), Nay
Webb (D-VA), Nay
Whitehouse (D-RI), Nay
Wicker (R-MS), Nay
Wyden (D-OR), Nay

U.S. Senate: Legislation & Records Home > Votes > Roll Call Vote

 

Possibly I honestly dont know but this is what he has put foreward now and as a member said they did not know any of the specifics of his budget I simply provided them for him. You would possibly need to check the records to see if the same budget was poposed previously

 

I'd like to know exactly what the Republicans have given up, compromised on, or even been willing to put on the table? Please feel free to list everything.

The Democrats: Social Security, Medicare, Medicaid. Their standing with their own base.

Republicans: 0

 

You got it! And I love the first line of it

He really thinks we have emerged?

 

He gets to spend more money. Then he gets to borrow more money. Then he gets to spend that money. That is what happens when you don't lead.

BTW, that is more than he brought to the meeting.

 

.....all of this debate & controversy boils down to one basic issue- BO's spending.

 

Seems to me and I am sure I am wrong - that failure to raise the debt limit effectively gives the President the power of line item veto. Since the US Gov't would not be able to pay all financial obligations the President could exercise his authority as CEO and pick and choose which obligations are not paid.