In a nutshell
Quote of the day goes to Josh Marshall on Twitter:
Shorter GOP: Tank the economy (with huge budget cuts) or we'll crush the economy (with debt default).Adding, of course, and they will blame it on Obama either way. Who will probably deserve some of the blame because he insists on negotiating over their hostage demands instead of calling their bluff.
Labels: economy, President Obama, Republicans
posted by Libby Spencer at 2:10 PM
3 Comments:
The deficit / debt is not a partisan game Ms Spencer. The latest CBO report puts the Nations economy on a glide path similar to Greece
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"A new report says that the national debt is on pace to equal the annual size of the economy within a decade, levels that could provoke a European-style debt crisis unless policymakers in Washington can slam the brakes on spiraling deficits."
"CBO, the non-partisan agency that calculates the cost and economic impact of legislation and government policy, says the nation's rapidly growing debt burden increases the probability of a fiscal crisis in which investors lose faith in U.S. bonds and force policymakers to make drastic spending cuts or tax increases"
http://finance.yahoo.com/news/CBO-Debt-crisis-looms-absent-apf-3279337838.html?x=0
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This isn't a twitter"quote of the day", but rather a serious forecast of real fiscal crisis.
You don't like the GOP plan..fine. Where is the progressives/dems plan. "Taxing the rich" wont fix the deficit by itself
"Kicking the can" down the road until at least 2013 is not leadership.
Your post nails it.
Mad Kane
Well actually, Josh's tweet nails it, but don't mind TDC. He's the master of the straw man and the deliberately obtuse. But he's polite enough about it, so there's that...
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