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US Congress

Not raising the debt ceiling: Fed Bernanke calls it a “self-inflicted wound” to the American economy

by an Unemployed White Male on July 18, 2011

in Business & Economy,Politics & Government,Recession

A gun shot to the head: America will be seriously injured by a self-inflicted wound from our president, Comrade Obama, and our inept, money loving, and power hungry Congress.

No one knows what will happen to the economy if lawmakers fail to reach a debt ceiling deal by Aug. 2.

Except this: It won’t be good.

For starters, interest rates could shoot up and stock prices could plummet — leaving Americans less well off and less willing to spend, to say nothing of having less economic confidence going forward. The same goes for business owners and investors.

Read the happy news at CNNMoney.com …

Tagged as: Comrade Obama, Debt ceiling crisis, economic crisis, Economic recovery, Fed chairman Ben Bernanke, perils of debt ceiling crisis, President Barack Obama, Recession, Unemployment, US Congress, US economy

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With debt crisis, Obama and Congress on track to strengthen recession, and screw America

by an Unemployed White Male on July 13, 2011

in Business & Economy,Politics & Government,Recession

NEW YORK (CNNMoney) — President Obama has put the country on notice that he can’t guarantee Social Security and other government checks will go out if the debt ceiling isn’t raised by Aug. 2.

So it’s worth reviewing just what the fallout could be if lawmakers fail to act on time — either in early August or sooner if markets start to lose confidence that Congress will get its act together.

Read the CNNMoney.com article.

Tagged as: debt ceiling, debt crisis, Economic recovery, Mitch McConnell, Obama, President Obama, Recession, Tim Geithner, US Congress, US economy

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