Obama, Congress reach a debt deal

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What kind of drug test doesn't involve taking a biological sample back to the lab? The most common ones a breath, blood, urine, hair, and stool is possible too.

Considering the very moderate drop in the DJIA last week in the face of unfavorable economic data, it doesn't look like the market was worried much. In the longer run, failure to raise the debt limit would probably have helped the US credit rating - it's the continued deficit that's the real threat.


Boehner's powerpoint slides lay it out pretty well, though you'll have to subtract the partisan spin:

http://www.powderhouse.com/~wdew/articl ... 110731.pdf

Short version: beyond the first $900 billion, the additional $1200 billion in cuts come half from defense, with the other half distributed between discretionary spending and medicare, unless the yet to be determined bipartisan committee's recommendations are passed instead.

So, when is the senate vote (if not already done) and will it be a 11th hour pass or still risk failure?

2012, Iraq has not asked us to stay. Under current agreements, we have to remove all troops, and all private contractors. This is being marketed as military cuts. In exchange, the debt limit goes up.

The savings from Medicaid come in ten years, from projections, which will be changed, in exchange, the debt limit goes up.

The $2,000,000,000,000, will be spent before the next election, raised by selling bonds. That is on top of some five trillion government income.

What was not said is Federal unemployment ends 2012, in five months, and then it is only 26 weeks from the States. No need for 99 weeks, the recession is over. Some four million people are now drawing extended benefits. It is by tiers, and no one qualifys for the next tier.

That was a lot being spent locally.

I think the end was when government ran up the debt to three times government income. That was back under Bush. We have been living in a Post End economy ever since.

Nothing on jobs, housing, local spending, go out and plant a garden.

Well, the entire episode does show again how serious a problem the deficit is. It's going to blow up in all our faces at some point in the future.

I guess you are correct in that failure to raise the debt limit would not be an immediate problem. It would not necessarily lead to a default, it would just lead to the US government completely bogging down.


Boehner's powerpoint slides lay it out pretty well, though you'll have to subtract the partisan spin:

http://www.powderhouse.com/~wdew/articl ... 110731.pdf

Short version: beyond the first $900 billion, the additional $1200 billion in cuts come half from defense, with the other half distributed between discretionary spending and medicare, unless the yet to be determined bipartisan committee's recommendations are passed instead.[/quote]

Hmm. Sad to see a complete exemption from tax raises. It's similar to the situation here, with political parties just outright claiming that taxes destroy the economy. Thank you for the link, though.

Well he signed it. for better or for worse, it is done.

I was kinda hoping that they couldn't get it together and Obama would enact the 14th amendment instead of them just ramming something through congress that is not totally in the best interests of americans.

I have learned one lesson though...if this is what is to come from the Tea party, I might have to leave the country if they get elected next year.

Did you know that bill they tried that failed in congress, it was going to do away with all social programs and privitize medicare.


@ John Browning, The drug testing I speak of is the Anthrax vacine which contains squaline and is an immune excellerant which causes debilitating auto-immune diseases. The drug has been tested on troops since desert storm. It is the cause of gulf war syndrome