Now I understand the president is in a real dilemma. The speaker has left his office without making any kind of a deal. It seems Congress is just going to let the country default on the debt. In their minds, it's their way or no way. They are determined not to let the tax loopholes expire for the wealthy. They do not want the wealthy to have to pay their fair share. Most pay only a capitol gains tax of 15% with all the loopholes they enjoy.
House Speaker John Boehner has ended debt talks with President Barack Obama, telling fellow Republican House members in a letter that he will "begin conversations with the leaders of the Senate in an effort to find a path forward."
The president said his administration had offered "an extraordinarily fair deal" to cut expenditures and raise revenues, in return for Congress agreeing to hike the nation's debt ceiling. But he said that Boehner "left (him) at the altar."
Obama says he called congressional leaders from both parties to the White House on Saturday morning to "explain to me how we are going to avoid default" on the nation's debt.
"We have run out of time," Obama said.
So their conclusion is not to pay the armed forces, Medicare or Social Security after August 2nd? Is that so? If they default on the debt, our credit worldwide would be affected and it could cause a worldwide crash.
That would be a fine kettle of fish. I hope they are feeling willing to pay the consequences. There are a lot more men and women in the armed forces and social security recipients than rich people in America and THEY vote. But this is all based on the premise that there really IS a debt crisis.
We will see!
No, it is possible for President Obama to raise the debt limit himself without the "permission" of Congress. That's just what they want him to have to do. They will then use that as political ammunition.
This entire crisis is all about the 2012 presidential elections. It's all political posturing. The trouble is the bulk of the American people are not aware of that.
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The Republicans want him to raise the debt limit by himself so they can start impeachment hearings. They are out to get him any way they can. If I were the president, I be just disgusted enough to resign and say, "Here's President Biden. How do you like them applies?
He wants a second term. But he won't let the government go into default over that.
The stated aim of the Republicans was to assure that President Obama would have only one term.
That's probably one of the few times that they have told the truth.
It is so disgusting to see these people not doing what they were sent there to do - their job!
I hope they're wrong, Marlu. The Republicans don't have a viable candidate for whom I could vote.
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