Nothing new here. The fact it took so long to "resolve" something of this proportion, well, the president is certainly losing his Midas touch! Fact of the matter is that nothing is quite resolved, the way I read it. In less than a week, the stock market plunges again and we'll see more drops to come, I'm sure. Be it the currency or the stock market, we are in for rough times!
I'm sorry to say this, folks. As with some economists, I agree with them on the note that "we ain't see the worst" yet! Run for cover! The BIG question is, where to?!?!
ItIt makes me wonder, is this a show of hands or is it simply a camouflage to the world? This tussle about the debt ceiling looks to me (possibly just me since I don't hear anyone talk about this "idea") like a signal to the world that should United States one day has to answer to its many debtors, it's a case of "we had tried our best to resolve the issue" rather than having to swallow the bitter pill wIt makes me wonder, is this a show of hands or is it simply a camouflage … more
I'm downgrading the rating from -3 to -5. In an unfortunate turn of event, the S&P still downgrade the US AAA to an AA-plus rating and more downgradings expected in future... The Congress appeared to have work for nothing over the debt deal! How unfortunate! More trouble ahead for the rest of the world too! See review for more details!
On July 31, 2011, President Barack Obama announces that leaders of both parties have reached an agreement to lift the debt ceiling and reduce the federal deficit, and separately, House Speaker John Boehner told Republicans that they have reached the framework for an agreement. Boehner reveals details of the agreement in a presentation to the House Republicans.