25
Jul
11

the view from abroad

The Guardian: Vince Cable (UK Government Business Secretary) has launched an extraordinary attack on “rightwing nutters” in America who are trying to block the raising of the US government’s debt ceiling and who are, he said, a bigger threat to the world economy than problems in the eurozone.

… He said: “The irony of the situation at the moment, with markets opening tomorrow morning, is that the biggest threat to the world financial system comes from a few rightwing nutters in the American Congress rather than the eurozone.”

Negotiations on raising the US government’s debt limit above its current level of $14.3tn (£8.7tn) collapsed in acrimony late on Friday over details of a package of spending cuts and tax rises that would help to pay for such a move.

A visibly angry Barack Obama attacked the Republican speaker of the house, John Boehner, for refusing to return his phone calls and said he had been “left at the altar” in trying to reach an agreement. Most experts agree that if the US were to default on its debt payments, stock and bond markets worldwide would plunge, threatening a new great recession. The deadline for agreement is just over a week away, on 2 August……

****

Thanks Titti


25 Responses to “the view from abroad”


  1. 1 globalcitizenlinda
    July 25, 2011 at 9:12 am

    well, you know you have gone to the extreme when people who are in a fellow conservative movement call you “rightwing nutters”. these rightwingers have lsot their minds!!!!

  2. July 25, 2011 at 9:16 am

    I’m posting this here because I want you to see it Chipsticks. Its a post from Balloon Juice written by Dennis G.

    Compromise: http://www.balloon-juice.com/2011/07/24/compromise/

    Its so excellent and the quote in there from Obama’s town hall is also excellent. how anyone can argue with it I don’t know but it has over 100 comments so I’m sure someone came up with something (absurd).

  3. 4 mtmarilyn
    July 25, 2011 at 9:17 am

    ood morning Chips and TOD family. I have returned from the camping in the beautiful mountains of MT praying that the tearepubs had a brain. Wasn’t to surprised that they don’t. I have lots of caching up to do but I do have great faith in our President. It’s all these other stupid people that bug up the system. This article from the Guardian is spot on. These tearepubs are going to bring down the whole world economy. I wonder if any of the PL understand their part in this, by not voting in Nov.

    Thanks to all of you wonderful people here for having this President’s back.

  4. 5 ChristiMtl
    July 25, 2011 at 9:18 am

    Right-wing nutters, far-right extremists……….damn right.

    But according to the media, both sides are equal. It’s appalling.

    So one side wants to destroy social programs, crash the economy on purpose to hurt a duly elected President, remove all regulations on Corporations, view government as evil, But both side are equal.

    Corporate owned media is a disaster and the biggest treat to the US and the world.

    Instead of focusing on the extremists in power, people should focus on corporate owned media who legitimize them as just ”deficit hawks” and not what they truly are. Dangerous psychopaths who have no place in government.

    • 6 utaustinliberal
      July 25, 2011 at 9:53 am

      Exactly. It has to take an outsider to point out to our media that both sides are not to blame. One side has compromised, has acted like adults, has put its citizens at the forefront of negotiatons. The other side is willing and happy to push every single one of us over the cliff and into the abyss. The media thinks they’re fooling most of us when they try to spread the blame to both sides, but that false narrative will always fall short.

  5. July 25, 2011 at 9:19 am

    Mark Knoller is reporting that PBO’s fundraising events are being put on hold, including the huge Aug 3rd birthday bash in Chicago, Harvey Weinstein event in NYC postponed until next month, swing through California and Seattle put on hold.

    • July 25, 2011 at 9:40 am

      He’s preparing for the worst. yikes

    • 9 isonprize
      July 25, 2011 at 9:47 am

      Is Mark Knoller a reliable source? I’ve got two hosts for the Obama Birthday House party on Aug 3rd. I hope that they don’t postpone them. I’m going to wait for official word from the campaign.

      • July 25, 2011 at 9:53 am

        He’s pretty reliable when it comes to straight reporting. He’s a CBS WH correspondent and pretty well-connected.

        I think this is a day-to-day, hour-to-hour judgement call at the moment.

        • July 25, 2011 at 9:55 am

          It’s wise to hold the house party no matter what because we need to organize around this issue. I’m sure OFA will keep us posted.

  6. July 25, 2011 at 9:21 am

    The worst part is the rightwing nutter are sitting in congress making decisions that affects our lives. If they want all these cuts then start with their pay and benefits and see how senior feel.

  7. 13 Tanya
    July 25, 2011 at 9:30 am

    Yes, I’ve see the British Minister remarks are also in Reuters…
    http://www.reuters.com/article/2011/07/24/us-britain-cable-congress-idUSTRE76N16V20110724

    keep them coming!!!

  8. 14 SUE DUVALL SMITH
    July 25, 2011 at 9:47 am

    THIS IS TO BE EXPECTED BECAUSE ALL NATIONS ARE LINKED TOGETHER IN THE RATHER LARGER WHEEL OF ECONOMICS. TO PUT IT MILDLY…THE REPUBLICANS HAVE NO PLACE TO HIDE!

    • 15 isonprize
      July 25, 2011 at 9:49 am

      Yes, but cowards do very strange things when exposed to the light. These people are really crazy. Their only end goal is the downfall of President Obama. And it’s obvious that they don’t care who they take down with him, including their own supporters.

  9. 16 Fred
    July 25, 2011 at 9:53 am

    morning TOD family

    may God continue to bless and guide;protect and bless the President extra hard until he wins that battle against the Teahadists that are keeping our country hostage.

  10. 17 57andFemale
    July 25, 2011 at 10:01 am

    Some interesting thinking/framing developing today (or at least the first time it’s on my radar): There is a fundamental conflict between the laws Congress has passed that authorizes the spending already on the books, and the debt ceiling law. When we come up to the debt ceiling limit, the President must choose which law to abide by and can ‘ignore’ the debt ceiling. That by passing spending bills that put us in deficit, by nature (for lack of a better word) the artificial debt ceiling has no functional meaning.

    Shall we discuss?

    • 18 MTmarilyn
      July 25, 2011 at 10:06 am

      I guess I don’t quite understand what you are saying. That the congress by passing spending bills that surpass the debt ceiling they have already voted to raise it?

      • 19 57andFemale
        July 25, 2011 at 10:20 am

        Okay, I’ll try to explain: the monies due now are all a result of bills already passed. So Congress has passed bills knowing they would cause a deficit. The debt ceiling bill is completely artificial, requiring Congress to pass a bill to raise it. But they’ve already passed spending bills that make the debt ceiling virtually nonsensical — do we pay our bills or put an artificial ‘ceiling’ on what we already knew would put us in deficit?

        The two sets of bills come in direct conflict with each other: we either pay the bills we’ve already incurred by Acts of Congress, or we artificially renege on paying those bills because Congress won’t let us borrow money to pay for the spending they’ve already agreed to.

        • 20 57andFemale
          July 25, 2011 at 10:24 am

          One more ‘clarification’: If Congress does not pass a debt ceiling increase, he is faced with how to execute two sets of contradictory laws: does he honor the spending bills or does he honor the debt ceiling default?

          This seems to be a more interesting legal argument that the 14th Amendment can bolster and make the debt ceiling law virtually null and void because by obeying the debt ceiling law, the President cannot honor the paying of debts already incurred.

          Now, that only works until we get into fighting over the next fiscal year and that’s where Republicans come up with their balanced budget b.s. That being said, they still lose the increase in taxes argument. We’re back to Obama’s original assumption: you are not serious about the debt if you are not serious about revenue.

          • 21 MTmarilyn
            July 25, 2011 at 11:07 am

            Thank you. These teathugs do not know how to govern at all. They really want to take down this whole government. As long as it takes this President down they don’t care. This whole thing is go complicated it is hard to follow.

          • 22 prettyfoot58
            July 25, 2011 at 12:11 pm

            GREAT EXPLANATION….SOOOOOOOOOO ALLL THIS IS JUST JIVE//

    • 23 prettyfoot58
      July 25, 2011 at 11:46 am

      that surely was the case with the wars and with Medicare Part D…both were passed by the congress…during the Bush years in office

  11. 24 Ladyhawke
    July 25, 2011 at 10:17 am

    Asian bankers just scratch their heads……

    Tthe Eyes of the World

    The Financial Times’ James Crabtree added this morning that Asian central bankers, watching the American fiasco, have been reduced to “resigned incredulity.”

    http://www.washingtonmonthly.com/political-animal/2011_07/the_eyes_of_the_world031071.php

  12. 25 isonprize
    July 25, 2011 at 10:50 am

    Here’s a laugh for the morning, Courtesy of “the Onion” Only they could get away with this one….

    NEWS IN BRIEF: God Urges Rick Perry Not To Run For President
    http://www.theonion.com/articles/god-urges-rick-perry-not-to-run-for-president,20981/


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