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Subscribe to RSSThe Treasury Department will face growing pressure Friday to detail its emergency plans to operate the government next week after a House Republican revolt Thursday night complicated efforts for Congress to raise the debt ceiling by Aug. 2,” the Wall Street Journal says.
“To avoid defaulting on U.S. government debt, the Treasury plans to prioritize its payments by ensuring that it will make a $29 billion interest payment to bondholders on Aug. 15. That would leave about $101 billion in cuts to others owed government checks in August, including contractors and recipients of Social Security benefits or military pensions. Obama administration officials have warned that missing any bond payments would constitute a default on government obligations, which could shake financial markets and possibly trigger another crisis and recession.”
“The Obama administration accused Iran yesterday of entering into a ‘secret deal’’ with an Al Qaeda offshoot that provides money and recruits for attacks in Afghanistan and Pakistan,” the AP writes. “The Treasury Department designated six members of the unit as terrorists subject to US sanctions.”
Just asking, but how many Democrats shop at Home Depot? “Wall Street honcho Ken Langone took President Obama to the woodshed yesterday for acting ‘unpresidential’ and ‘petulant’ by pitting rich and poor Americans against one another during the bruising battle over the debt limit,” the New York Post writes. “‘He's not bringing us together. He's willfully dividing us. He's petulant,’ said Langone, a former director of the New York Stock Exchange and founder of Home Depot. ‘Ronald Reagan would never go into the Oval Office without his jacket on -- that's how much he revered the presidency,’ Langone said in a CNBC interview yesterday. ‘This guy [Obama] worked like hell to be president . . . Behave like a president. Let me look at you as a model to how we should behave. What does he say? Fat cats, jet airplanes. What is the purpose? Us versus them.’”
But Lagone also said… "People like me have to understand that it isn't business as usual. I think it's a travesty for a man of my success and my means to get anything from the federal government. I think I should pay more taxes."
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Pay the congress and their staffers last. This thing should have been a no brainer, we have to pay our bills.
Also, take out Joe Walsh's child support payments from his paycheck!!! Talk about a deadbeat.
Makes you wonder why they haven't gone after Joe Walsh's ass "Bobby Brown" Style; CONSIDERING the fact that we go after those that owe WAY LESS than he.
Pay congress last.
Amen
Tom:
Agreed.
But that won't solve the problem. Most of them are millionaires, and those who aren't can wine and dine 7 days a week with the lobbyist friends.
As I mentioned on another FR article this morning, it appears that the TParty objection to Boehner's bill last night was Pell Grants. It's hard to believe, but the TParty is not willing to compromise on ANYTHING.
They are ALL IN. They are betting the full faith and credit of the United States of America on their bone headed, selfish, radical agenda.
I agree; don't pay Congress when the default hits. But that's not going to solve this problem.
Bilweeler,
I don't believe most of their staff are millionaires, put some pressure on them to get their boss in line.
Also using Joe Walsh from IL as an example, he didn't have any real money before he got this cushy job in the last election by 271 votes (I'm sure IL is having buyers remorse now), let alone once they garnish his paycheck to pay off his past due child support, he'll need what's left to pay for his airfare back and forth to IL. Take that pay away and maybe he'll rethink his stand.
Tom:
As a general rule, staff does not "get their boss in line." At least not if they want to keep getting a paycheck.
I saw Walsh on TV last night. He's a tea drinking narrow minded shallow thinker. He can spout talking points, but has a feeble grasp on facts and reality.
I support taking away his pay. Better yet, garnish it for his kids.
Frankly, he's the worst kind of deadbeat. If you don't put your kids first and pay your child support, well, you are a deadbeat in my book.
Even if he would rethink his position (and I doubt it...he's not interested in facts), he will always be a deadbeat.
I heard on NPR this morning that representaives of the United Church of Christ, The United Methodists (Methodists!) and the Presbyterian Church were arrested at the Capitol for protesting cuts to social programs in Boehner's bill. Also, 70 Catholic clergy from Boehner's home state sent him a letter asking him to remember the poor.
So, the CEO of Home Depot thinks President Obama is pitting rich and poor against each other? Why might these clergy feel compelled to lobby on behalf of the poor, unless there is a war in this country over who will pay our debt, the wealthiest, or the poor and middleclass?
how much crap does the ceo of home depot import from china ?
"Just asking, but how many Democrats shop at Home Depot?"
Fewer now that Langone is criticizing the president. The president has merely pointed out that the tax code is full of special breaks for the rich and corporations. As long as the government keeps on favoring the rich over the middle class, the economy will be hurt. It is right for the president to point this out.
I, for the most part, agree with Mr. Langone in that President Obama is, and always has, used class warfare in his speeches, now that might be pandering to his base but it does nothing to bring this country together. Obama is in over his head and just cannot put his ego aside.
As for Mr. Langone saying he should pay more taxes, there is nothing stopping him, and Buffet and other fat cats", from writing a check to the Treasury Department for any amount they want over and above what is required by law. My challenge to Langone, Buffet, Gates & other millionaires and billionaires, Write those checks in excess of what you owe and lead the way or just STFU.
BTW, I do shop at Home Depot, mainly because they have a wide selection and they give a 10% discount to active duty and retired military.
Actually the Congress and its staffers shouldn't be getting paid at all since this whole mess started. The minute the Republicans decided to attach cuts to the ceiling debit limit their paychecks should have stopped. And furthermore, if we lose our credit rating, their paychecks should continue to be held until we regain our credit raiting again! Maybe that would give them some incentive to stop the "party line"! And passing bills in teh House that have no chance of passing in the Senate is just childish!