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The Senate yesterday authorized a $500B spending bill that will finance the government for half...

The Senate yesterday authorized a $500B spending bill that will finance the government for half a year from October 1, adding to approval from the House. Congress has now broken up ahead of the elections on Nov. 6, leaving plenty of unfinished business. That includes measures to forestall the "fiscal cliff" and a renewal of the farm bill.
Comments (10)
  • So... uhhh.... debt ceiling is no longer an issue... and maybe never was... or am I misunderstanding what happened here.
    23 Sep 2012, 10:11 AM Reply Like
  • The debt ceiling is only a political one. There is no fundamental reason why it can't ever be raised except the fact that doing so may eventually lead to a collapse in the dollar if no one is willing or able to buy US Treasuries to finance it.
    23 Sep 2012, 11:31 AM Reply Like
  • Comment was meant to be tongue in cheek, to point out that the US suffered a debt rating downgrade for no other reason than political grandstanding.
    23 Sep 2012, 11:47 AM Reply Like
  • The fed is more than willing to provide all the financing the government wants so this is an non-issue.
    23 Sep 2012, 01:44 PM Reply Like
  • Think about what you just wrote. No fundamental reason except collapse in the dollar. Oh no big deal... what the heck moon.
    23 Sep 2012, 10:42 PM Reply Like
  • the S&P downgrade was NOT due to 'grandstanding' so much as the fact that the agreement made in aug 2011 failed to meet S&P's standard for sufficiency in closing fiscal gap. Remember, S&P downgrade was given after the agreement and was a response to it. For the other ratings agencies, they gave until 2013, so more downgrades if the path continues on status quo of trillion dollar deficits. The real solution is a serious path to balance (like the 'cut, cap and balance' proposal). that's the only way to avoid further downgrades. Had we done cut, cap and balance in 2011, S&P would NOT have done the downgrade.
    24 Sep 2012, 09:22 AM Reply Like
  • So can I send my guys from this war home early, since our leaders have set this precedence that we don't actually need to accomplish our assigned tasks?
    23 Sep 2012, 11:24 PM Reply Like
  • And all the liberals hate the Tea Party, does Jon Q public know the real reason why? Maybe our current "leaders" do not want their agenda stopped? Hmm.... What is so wrong with a smaller government that has a balanced budget?
    24 Sep 2012, 03:27 AM Reply Like
  • Congress has learned from Europe, and will continually 'kick the can' on the hard choices. they failed to do anything serious because Obama and the Democrats really didnt want any reductions in spending. The Republicans caved in aug 2011 and we got the typical phony-cut 'solution' that supposedly was a roadmap for bipartisan fiscal responsibility that has seen (1) both parties fail to agree on reasonable cuts, triggering automated cuts (2) President renege on legal commitments to put forward solution (3) politicians on both sides wanting to wriggle out of automatic cuts, eg Republicans whining about DoD cuts bludgeoning the military.
    24 Sep 2012, 09:21 AM Reply Like
  • The lack of leadership in Washington when it comes to fiscal responsibility is stunning. IMHO, the #1 clown in the circus is Obama, but he's far from alone in fiddling while our credit rating burns. Voting out all incumbents from the President on down is a step in the right direction.
    24 Sep 2012, 09:23 AM Reply Like
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