“NEW YORK -- With just over a week left before the federal government is set to exhaust its borrowing authority, financial markets are on edge.
U.S. stock market futures shuddered Monday, and Asian and European stocks dropped, as federal policymakers still had not come to an agreement to raise the nation's debt ceiling and avoid default. Investors shunned risky assets and moved money toward safety. The tremors, though relatively muted for now, suggest that anxiety about the ongoing stalemate in Washington has crept into markets worldwide, dampening economic prospects as the reliability of the world's most rock-solid credit has been called into doubt…”
That may get the attention of Republicans but I do not think it will get the attention of the Tea Party people. Some of them say they will not vote to increase the debt limit period.
I have made a couple of videos on the debt limit matter and I am getting Ron Paul people that say we should be on the gold standard and that it does not matter since we are not on the gold standard that everything is going to crash unless we elect Ron Paul.
I also got some people commenting that this is all fake that the United States has the money to pay everything on August 3rd if the debt limit is not increased.
All the experts Republican and Democrat say that we will only have 40% of the money we need on August 3rd. So we can pay the interest on the debt and either Social Security or the military. They all agree we will not have money to pay what needs to be paid unless the debt limit increased.
If they increase the debt limit I hope they do the $2.4 trillion dollar amount. That will put an end to this crap until after the elections in 2013. If they do an amount less than that then in a few months and before the election we will have this same shit going on.
We do not need this before an election. The GOP wants to defeat President Obama at all costs and they want to make sure the unemployment rate is high and that economic state of the United States is poor.
I think the Republicans may come up with some shitty small increase of the debt limit. The president might veto it. Then when I and millions of others do not get our check the Republicans can say it is all President Obama’s fault.
If I were President Obama I would veto any debt limit increase that does not put the debate on the next one until after the election. That might be hard for him to do. Just think of all the people like me with no money.
I get my SS at the end of each month so here in a couple of days I will get my SS check. So I will not expect my next check until the end of August. I feel sorry for those people that get a check that first week in August.
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