White House Rejecting Part of Debt Ceiling Proposal

Doesn't want to tie it to budget negotiations

Comments

[Bob Straub]

Sounds like the Prez thinks there should be no end in sight. Hmmph!

Many say that the debt ceiling needs to be raised just so that the govt. can pay for the things it has already passed into law. But so far, there's been a steady pattern of: pass more spending bills; raise the debt ceiling to pay for them; rinse; repeat. Maybe there's a squabble or two along the way. But there are no disincentives to spend and then increase the debt. Everybody probably knows this can't go on forever, but the temptation to kick the can down the road, time after time, is apparently insurmountable. We've got to make it stop.

[Gman]

This will eventually, and inevitably lead to a currency collapse, thats a given at this point.

Hyperinflationary currency implosions are a local event; they do not affect foreign currencies, and will have minimal effects on economies which keep a safe distance from the USA. The people in Saintago don't care if Wall St and Washington DC fall into the ocean tomorrow, they will still pay their utility bills and an electric company down there will not be affected.

There are many ways of protecting your assets, no matter how small, from an implosion in the USA, but good luck doing so with a US financial institution - even if you can find a broker with access to foreign currency or investments, he likely will go thru a US exchange, and, where will that brokerage firm or bank be when the currency collapses and brings the banking industry and system down with it??

You need to move the $ offshore - safely place it in a foreign bank or firm ASAP or lose it: http://swisssolution.webs.com

[herbisonmatilde]

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[BigT]

If true, Obama is saving the R's from themselves. They have gotten as much grief as they will, so no reason to cave.