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Debt ceiling debate? Talk to the hand.
After weeks of contentious negotiations in Washington, Willard M. Romney managed to stay relatively quiet on the debt ceiling debate. (So much so that The Daily Caller, quite brilliantly, put him on the back of milk carton).
Now, just hours before the deadline, the GOP frontrunner finally gave a hint of what he would do in the debt ceiling debate, if he were in charge.
"As president, my plan would have produced a budget that was cut, capped and balanced — not one that opens the door to higher taxes and puts defense cuts on the table," said the former Massachusetts governor in a statement. "President Obama's leadership failure has pushed the economy to the brink at the eleventh hour and 59th minute. While I appreciate the extraordinarily difficult situation President Obama’s lack of leadership has placed Republican members of Congress in, I personally cannot support this deal."
Interesting Romney chose to weigh in the eleventh hour and 59th minute.
NBC's First Read points out, "Republicans tied raising the debt ceiling — a routine move by past presidential administrations — to spending cuts, not Obama."
As for other 2012 contenders, Jon Huntsman is for the plan while Michele Bachmann opposes this plan and raising the debt ceiling.
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hopefully this country will never have to experience romney's lack of leadership, due to his constant flip-flopping on every issue.
The US debt is currently about $14 trillion and is made up
of Treasury Bills, Treasury Notes, and Treasury Bonds. No doubt some of these financial
debt obligations mature on a daily basis. Most pension fund managers use short
term Treasuries to pay the monthly pensions due to former retired employees.
What happens if a pension plan purchases a $300 million note maturing August 3,
2011 and the Treasury pays only the interest? By most accounting and banking measures
this would be considered a default leading to insolvency.
absolutely.
chris matthews just had a bagger on his show who said that in HIS OPINION it would not be default to simply pay only the interest.
that sounds like bagger voo-doo economics.
the baggers are operating on their "feelings" and" opinions" about a gov't THEY HATE. yet they get paid by the gov't try to bring it down.
Love your show Lawrence. You need to be on more during the day!!! You know how everything works behind closed doors.
Too little too late from Romney. Again
spineless chicken-s*it
I could not believe my ears. I was just listening to Rev Al while waiting for The Last Word. Pat Buchanan had the audacity to referr to President Obama as "your boy". Disrespectful and disgraceful, that's where the republican's have gone.