Thursday, July 28, 2011

In Obama-Boehner Debt Ceiling Standoff, Who Will Blink First?-July-28-2011-



Crunchtime for real debt
Debt is money.
-July-28-2011--
And most of us could not buy a car -
Without debt, nobody could buy a home
two of the largest purchases made by individuals.
Gonzalez on debt ceiling "Boehner" bill vote
A balanced-budget amendment would eliminate the possibility of planning for the national defense, for infrastructure, for emergency relief and for a host of other governmental functions we depend on.
Congressman Dave Reichert incurred our national debt on behalf of the American people, and now he is obliged to raise the funds to pay for it. It’s not like the president is asking him to spend money he did not approve — for two wars, for tax cuts, for a Medicare drug benefit and for Social Security and Medicare/Medicaid.
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Leader of Rebel Military in Libya Is Reported Killed -July-28-2011

Leader of Rebel Military
in Libya Is Reported Killed
-July-28-2011--BENGHAZI, Libya - The top rebel military commander was killed Thursday, and members of his tribe greeted the announcement with gunfire and angry threats.
 The violent outburst stirred fears that a tribal feud could divide the forces struggling to topple the Libyan dictator, Col. Muammar el-Qaddafi. The leader of the rebels’ provisional government, Mustapha Abdul Jalil, announced Thursday evening without providing details that unnamed assassins had killed the commander, Gen. Abdul Fattah Younes, and two other officers.




 















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The House delays vote on Boehner debt-limit plan - July-28-2011-


The House delays vote on
Boehner debt-limit plan 
July-28-2011-- The US House is in recess and has delayed a vote on Speaker John Boehner's plan to raise the nation's
$14.3 trillion debt ceiling, as the GOP leadership struggles to get votes for passage.
Fears that the partisan deadlock in Washington won't be broken by an Aug. 2 deadline caused the stock market to tumble this week. The impasse on raising the debt ceiling also has raised the possibility that America's AAA credit rating -- and that of five states such as Virginia and Maryland -- will be downgraded.
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Wednesday, July 27, 2011

US stocks fall, politicians remain at odds -July-27-2011--


US stocks fall, politicians remain at odds
July-27-2011--US stocks plunged overnight as the country edged closer to defaulting on its debt and the economy showed more signs of deteriorating. Major indexes gave up all of their gains for the month.
The Dow Jones industrial average fell 198.75 points, or 1.7 per cent, to 12,302.55, its biggest one-day drop since early June. It has fallen for four days straight. The Dow is headed for its worst weekly decline in nearly a year and is now 4 per cent below the 2011 high it reached on April 29.
The S&P, which serves as a benchmark for most mutual funds, is also down 4 per cent from its recent peak.
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Tuesday, July 26, 2011

President Obama Addresses the Nation on Dangers of Default -July-26-2011--


President Obama Addresses the Nation on Dangers of Default
July-26-2011--With eight days until our nation faces an unprecedented financial crisis, the President addressed the nation on the consequences the stalemate in Congress could have on the stability of our economy
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President Obama Addresses the Nation on Dangers of Default- JULY-26-2011-

President Obama Addresses the Nation on Dangers of Default

July-26-2011--With eight days until our nation faces an unprecedented financial crisis, the President addressed the nation on the consequences the stalemate in Congress could have on the stability of our economy
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Monday, July 25, 2011

Markets show nerves over US debt impasse -July-25-2011--


Markets show nerves over
US debt impasse
July-25-2011--WASHINGTON - US stock markets sank and gold soared Monday as there was still no sign of a plan to raise the US debt cap, eight days before the country could be forced into default. Dow blue chips fell 0.7 percent and the S&P 500 lost 0.6 percent as Democratic and Republican lawmakers remained far apart on a deficit-cutting plan that would allow the country to keep borrowing and honor its commitments.
Gold and the Swiss franc -- popular safe-havens when both the dollar and the euro are looking risky -- both jumped.
Gold pushed up to a record $1,624 an ounce before falling back slightly to $1,614, and the greenback lost 1.6 percent to the Swiss franc, buying 0.8058 francs compared to 0.8185 francs late Friday.

















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Senate and House Still Far Apart On Debt in 2 New Plans- -July-25-2011--


Senate and House Still Far Apart
On Debt in 2 New Plans-
-July-25-2011--WASHINGTON – 
The Democratic Senate and Republican House put themselves on a legislative collision course Monday as they moved forward with significantly different plans on how to raise the debt limit and avert a possible federal default next week. House Republican leaders pushed for a vote Wednesday on a two-step plan that would allow the federal debt limit to immediately be raised by about $1 trillion and tie a second increase next year to the ability of a new joint Congressional committee to produce more deficit reduction. 
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