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> Budget Talks Break Down
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Patch 
Posted: 23-Jun-2011, 07:49 PM
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Budget talks between the parties have broken down and a number of elected officials have left the talks as the D's have refused to offer any compromise.

I am told that S&P and Moodys have been watching the talks with great interest.

Many economists anticipate they will act to lower our credit rating. Depending upon the interest we have to pay on our debt (most now short term) our economy could survive as little as "months" before default.

Slainte

Patch
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Robert Phoenix 
Posted: 23-Jun-2011, 09:35 PM
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Looks like the Post Office is going to be the next bailout.

http://www.statesman.com/news/nation/post-...ns-1554997.html


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MacEoghainn 
Posted: 24-Jun-2011, 02:08 PM
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QUOTE (Robert Phoenix @ 23-Jun-2011, 10:35 PM)
Looks like the Post Office is going to be the next bailout.

http://www.statesman.com/news/nation/post-...ns-1554997.html

The Post Office, being a Constitutionally mandated duty of the Federal Government (Article 1, Section 8), is low on my list of problems the Feds have (though the fact the Federal Government appears to be incapable of running it is highly illustrative of the problems in, and with, Washington DC).


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MacEoghainn 
Posted: 24-Jun-2011, 02:17 PM
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QUOTE (Patch @ 23-Jun-2011, 08:49 PM)
Budget talks between the parties have broken down and a number of elected officials have left the talks as the D's have refused to offer any compromise.

I am told that S&P and Moodys have been watching the talks with great interest.

Many economists anticipate they will act to lower our credit rating. Depending upon the interest we have to pay on our debt (most now short term) our economy could survive as little as "months" before default.

Slainte

Patch

The Dims are 'Hell Bent' on raising taxes (something they couldn't or wouldn't do when they controlled both Houses of Congress and the White House just last year) and the Republicans (at least most of them) aren't going down that GHW Bush road to destruction in the midst of a major Recession/Depression. Even Keynesian economic theory (which most Dim are so enamored with) doesn't suggest that raising taxes in the midst of a recession/depression is a good idea.
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Patch 
Posted: 25-Jun-2011, 07:59 PM
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From information I received last night. the walk out on the talks came about because the D's attempted a back door effort to raise taxes on the middle class along with the "wealthy."

As for the post office, any thing of importance that I have to mail goes certified mail with signature required. So far since they changed our sorting center, they misplaced a Christmas card to friends in Scotland, a quarterly tax payment to the IRS and at least two releases on asbestos claims. This took place in less than a year. I am paying $6.00 to send a piece of mail that should only cost 60 cents or less.

I am ready for them to be privatized.

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Patch 
Posted: 29-Jun-2011, 08:22 AM
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Talks have again broken down, this time over obama's demand for tax increases.

There is no will in either the house or the senate to do this as the economy wavers on the brink of another and possibly worse round of economic downturns. By holding the bush tax rates, unemployment improved a bit but more is needed.

I just received poll numbers indicating that obama is experiencing a 58% disapproval rating re: the economy I will try to find others that follow the same trend later today.

Slainte

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