Alan Grayson's e-mail on Moody's warning that it might reduce the US's AAA rating, suggested that Moody's was either threatening a downgrade because it wants to get the Bush tax cuts for the rich extended, or, alternatively, that “Moody's is living in what Aristophanes called "Cloud Cuckoo Land."” He says this because Moody's is upset about the possibility that the US may go over the so-called more »
Today the MSM question of the morning for Congressional Progressive Caucus members is a variant of this:
“Which is worse, voting for a debt ceiling increase bill that doesn't raise any revenue and that will lead to major cuts in discretionary programs, and in entitlements including Social Security, Medicare, and Medicaid, or voting to defeat a bill that does that and causing the more »
(Thanks to DailyKos commenter 2laneIA for suggesting this post and the title)
It's only a few days now until August 2nd. Perhaps a compromise on lifting the debt ceiling will be reached before then. Perhaps none will be reached. Perhaps the President will veto a compromise if it doesn't extend the ceiling sufficiently to support deficit spending until after the 2012 elections. more »
Many people have been, deservedly, very quick to jump on John Boehner for the lies he told in answering the President's Address; but they have been a lot less anxious to lay out the lies or at least falsehoods told or implied by the President, himself. I don't intend to excuse the Speaker's lies or the Speaker, by showing that the President doesn't have clean hands. more »
I've been a lifelong Democrat. But now, I don't know anymore. I'm still registered alright; but when I look at your behavior, I think I'm a freely floating voter resource now, and I'd probably respond to a poll as one in that amorphous blob of independents that stands for “the two parties suck; but we don't agree on much else.” I'm sorry about that. more »
, in legislation passed in 1996, for the US Mint to create platinum bullion or proof platinum coins with arbitrary fiat face value having no relationship to the value of the platinum used in these coins. These coins are legal tender. more »
(Author's Note; Many thanks to lambert strether, beowulf, and Yves Smith for their reviews of this post)
Well, the debt limit crisis is upon us. Treasury Secretary Geithner says the US Government will not be able to meet all its obligations on August 3, unless the debt ceiling is increased by Congress. The Secretary says he is out of moves to extend this date. I don't think that's true. more »
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