So in other words, y’all want to put a band-aid on this problem instead of giving it the surgery it needs and putting our economy on the path of rehabilitation? Make sense. SMH. Source“The sad truth is that the president wanted a blank check six months ago, and he wants a blank check today. That is just not going to happen.” Directly challenging the president, Boehner said there “is no stalemate in Congress.” He said the Republicans’ newest legislation would clear the House, could clear the Senate and then would be sent to Obama for his signature. The back-to-back televised speeches did little to suggest that a compromise was in the offing, and the next steps appeared to be votes in the House and Senate on the rival plans by mid-week. Despite warnings to the contrary, U.S. financial markets have appeared to take the political maneuvering in stride – so far. Wall Street posted losses Monday but with no indication of panic among investors. Without signed legislation by day’s end on Aug. 2, the Treasury will be unable to pay all its bills, possibly triggering an unprecedented default that officials warn could badly harm a national economy struggling to recover from the worst recession in decades. Obama wants legislation that will raise the nation’s debt limit by at least $2.4 trillion in one vote, enough to avoid a recurrence of the acrimonious current struggle until after the 2012 elections. Republicans want a two-step process that would require a second vote in the midst of a campaign for control of the White House and both houses of Congress.
Put On Blast: President Obama Urges The American People To Convince Republicans To Get It Together And Work This Debt Situation Out [Full Video]
Posted on July 26th, 2011 - By Bossip Staff