Big Business Tells Congress to Raise the Debt Ceiling

Discussion in 'Economy' started by Toro, May 13, 2011.

  1. Toro
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    Toro Diamond Member

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    Business to Congress: Raise debt ceiling now - Yahoo! Finance
     
  2. Toro
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    Toro Diamond Member

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    Banks, Hedge Funds Threaten A Repeat Of Lehman If Debt Ceiling Not Raised | zero hedge
     
  3. jillian
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    jillian Princess Supporting Member

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    that kind of leaves the repubs at a disadvantage. do they upset their teaparty, 'ihategovernment' types or do they upset their corporate clientele?

    seriously, it seems like there's not a lot of choice.
     
  4. Modbert
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    Modbert Daydream Believer Supporting Member

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    Are the Republicans willing to drive the economy off a cliff for their base? Guess we're going to find out.
     
  5. jillian
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    jillian Princess Supporting Member

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    if they have to choose between the base and their campaign contributors?? i'm going to be the base gets it in the neck.
     
  6. Toro
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    Toro Diamond Member

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    The Republicans will lift the debt ceiling. Much of the rhetoric is political posturing. They have to appease their base so they have to look like they are serious. But they have been told that not doing so would be catastrophic.

    Debt Ceiling May Come Crashing Down on Treasury | Capital Gains and Games
     
  7. waltky
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    waltky Wise ol' monkey Supporting Member

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    Granny says dem Chinese done stuck a corncob stuck up his butt...
    :redface:
    U.S. hits debt ceiling
    16 May`11 -- It's official: The U.S. government hit the debt ceiling on Monday, Treasury Secretary Timothy Geithner told Congress.
    See also:

    China Cuts Holdings of U.S. Treasurys for 5th Month
    Monday, May 16, 2011 Washington (AP) - China, the biggest buyer of U.S. securities, trimmed its holdings for a fifth straight month.
     
    Last edited: May 16, 2011
  8. waltky
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    waltky Wise ol' monkey Supporting Member

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    11 weeks an' it all gonna blow up in Obama's face...
    :eek:
    US government hits debt ceiling, lighting 11-week fuse
    Monday, 05.16.11 WASHINGTON -- Treasury Secretary Timothy Geithner informed Congress on Monday that the United States has reached its legal debt limit, setting off a ticking time bomb that could explode in less than three months if lawmakers can't bridge differences and allow more government borrowing.
     
  9. waltky
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    waltky Wise ol' monkey Supporting Member

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    No new spending cuts, no new debt ceiling...
    :confused:
    House Republicans reject US debt limit bill
    31 May 2011 - House Speaker John Boehner has said allowing more debt without spending cuts would be "irresponsible"
     
  10. Sallow
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    Sallow The Big Bad Wolf. Supporting Member

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    You gotta love these folks. They spend like crazy to get nuts into congress...and NOW seeing the "fruits of their labor" do every crazy thing they said they would do..they start dictating to them. And in a panic.

    :lol:
     

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