GOP doing the job Dems refused to do for 3 years and forces U.S. into debt default (or something)


Spinning top, bough in Prague
Spin spin spin

 

 

You following this?    

Text of Dem’s rebuke of plan they didn’t bother to write themselves:

 

 

 

Dear Speaker Boehner,

With five days until our nation faces an unprecedented financial crisis, we need to work together to ensure that our nation does not default on our obligations for the first time in our history. We heard that in your caucus you said the Senate will support your bill. We are writing to tell you that we will not support it, and give you the reasons why.

A short-term extension like the one in your bill would put America at risk, along with every family and business in it. Your approach would force us once again to face the threat of default in five or six short months. Every day, another expert warns us that your short-term approach could be nearly as disastrous as a default and would lead to a downgrade in our credit rating. If our credit is downgraded, it would cost us billions of dollars more in interest payments on our existing debt and drive up our deficit. Even more worrisome, a downgrade would spike interest rates, making everything from mortgages, car loans and credit cards more expensive for families and businesses nationwide.

In addition to risking a downgrade and catastrophic default, we are concerned that in five or six months, the House will once again hold the economy captive and refuse to avoid another default unless we accept unbalanced, deep cuts to programs like Medicare and Social Security, without asking anything of the wealthiest Americans.

Read the whole mess here:

http://hotair.com/archives/2011/07/27/all-53-senate-dems-sign-letter-to-boehner-your-bill-will-never-pass/

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