On 6/2/2011 4:12 AM, Ed Huntress wrote:
wrote in message
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wrote in message
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wrote:

Last night the republicans defeated a "clean" bill to raise the debt
ceiling. Today the stock market took a 250 point drop. Last time the
republicans failed to act on a similar bill the market dropped 500
points before they changed their minds and passed the bill.


40% of the democrats voted with the republicans. What's wrong with that.
That shows a
bit of bipartisanism.

Wes
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More likely it is politically expedient for them, they know it will be
used against them in the next election if they vote to raise the debt
limit.

That's what it was all about. The Republicans are trying to force a vote in
favor of Ryan's plan by way of budget posturing, just like the Democrats did
with the forced vote for the plan itself.

It's pure gamesmanship on both sides.



That's true, but it doesn't change the fact that if the debt ceiling
doesn't get raised it has the potential to damage the economy and our
financial situation in a big way.

We're the world's reserve currency. Think the rest of the world will
want to continue that if we stop paying our debts? Interest rates will
go up if we don't raise the debt ceiling. That will cost everyone and it
will probably slow the economy, which we can't take at this time. The
point is the results of not raising the debt ceiling will be very bad.

The republicans are willing to do it. That's their judgment. The
Democrats say we have to raise it. That's their judgment. I've seen what
happens when we do what the republicans want. It is a disaster. Listen
to the republicans' advice all you want. You'll be sorry.

Hawke