Members of the U.S. Congress reported Wednesday they were continuing to carefully debate the issue of whether or not they should allow the country to descend into a roiling economic meltdown of historically dire proportions. "It is a question that, I think, is worthy of serious consideration: Should we take steps to avoid a crippling, decades-long depression that would lead to disastrous consequences on a worldwide scale? Or should we not do that?" asked House Majority Leader Eric Cantor (R-VA), adding that arguments could be made for both sides, and that the debate over ensuring America’s financial solvency versus allowing the nation to default on its debt—which would torpedo stock markets, cause mortgage and interests rates to skyrocket, and decimate the value of the U.S. dollar—is “certainly a conversation worth having.” "Obviously, we don't want to rush to consensus on whether it is or isn't a good idea to save the American economy and all our respective livelihoods from certain peril until we've examined this thorny dilemma from every angle. And if we’re still discussing this matter on Aug. 2, well, then, so be it.” At press time, President Obama said he personally believed the country should not be economically ruined.
This is just an amazing insult to the U.S. middle class and tax payer. While our social security is being decimated under the Congressional and Administration made debt ceiling crisis, a new report shows the United States is losing billions in Afghanistan. Literally the money disappears.
efforts to safeguard U.S. cash entering the Afghan economy and to develop the Afghan financial sector have been hampered by limited interagency coordination, inconsistent Afghan cooperation and insufficient cash controls.
SIGAR found that U.S. agencies have limited visibility over U.S. cash that enters the Afghan economy -- leaving it vulnerable to fraud and diversion to the insurgency. SIGAR also found that poor cooperation by the Afghan government has impeded U.S. efforts to help develop the Afghan financial sector.
Is Gold money? Apparently not according to Ben. While technically correct, all of those gold bugs hording their physical gold for the impending Global Economic Armageddon, round 3, are jumping at the ready.
As you know by now, the jobs crisis reality exploded Friday with only 18,000 jobs created for June and an even lower labor participation rate implying more people are falling out of the labor force count entirely.
The latest is Obama, as part of some debt ceiling negotiation offered to raise the age for Medicare. I kid you not.
According to five separate sources with knowledge of negotiations -- including both Republicans and Democrats -- the president offered an increase in the eligibility age for Medicare, from 65 to 67, in exchange for Republican movement on increasing tax revenues.
It's Friday Night! Party Time! Time to relax, put your feet up on the couch, lay back, and watch some detailed videos on economic policy!
Is Gold money? Apparently not according to Ben. While technically correct, all of those gold bugs hording their physical gold for the impending Global Economic Armageddon, round 3, are jumping at the ready.
As you know by now, the jobs crisis reality exploded Friday with
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