Debt Ceiling Deadline - August 2nd

Sorry for my initial response. I apologize.

Geaux Tigers

 

Just two more days left!! Has everyone fully stocked their fallout shelters yet? I got a twelve pack that I plan on cracking open at 12 am Tuesday morning if there's no deal. Party time!!!

 

Funny, I feel the same way about you being a USNA grad. I really thought better of that place.

 

Republicans and the White House have struck a tenative deal to raise the debt ceiling before the Aug. 2 deadline. It's not done yet, but here is the framework of the tentative deal*they have worked out,*according to a source familiar with the negotiations:*

Debt ceiling increase of up to $2.8 trillion*
Spending cuts of roughly $1 trillion
Special committee to recommend cuts of $1.8 trillion (or whatever it takes to add up to the total of the debt ceiling increase)*
Committee must make recommendations before Thanksgiving recess*
If Congress does not approve those cuts by late December, automatic across-the-board cuts go into effect, including cuts to Defense and Medicare.

 

That's encouraging in a way, but I am not sure that $2.8 trillion will be enough to salvage our AAA rating. Still, it's worth a shot.

 

From my ex love Michelle malkin she puts it best:

Remember: Fast-forward past the sound and fury…The debt ceiling is going up. Government is getting bigger. Real spending cuts are getting kicked down the can. Entitlement reform is going nowhere. Reid and McConnell will dilute Boehner’s already diluted plan behind closed doors. And everyone in Washington will rush to take credit for nothing much.

 

The rating will drop regardless of what Washington does, as it should. The entire lot of misfits we have there have failed to prove that we warrant a AAA rating.

 

Sorry for my initial response. I apologize.

geaux tigers

 

Well, I certainly agree with you on that. Misfits is a good word.