It's a deal: Obama, Congress will avert default
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27 / M / in a world where...
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Posted 7/31/11 , edited 7/31/11
http://www.stltoday.com/news/local/govt-and-politics/article_001773b4-b40f-56b6-bada-e484e4f271e6.html

http://news.yahoo.com/deal-obama-congress-avert-default-012714959.html


Ending a perilous stalemate, President Barack Obama and congressional leaders announced historic agreement Sunday night on emergency legislation to avert the nation's first-ever financial default.




The agreement would slice at least $2.4 trillion from federal spending over a decade, a steep price for many Democrats, too little for many Republicans. The Treasury's authority to borrow would be extended beyond the 2012 elections, a key objective for Obama, though the president had to give up his insistence on raising taxes on wealthy Americans to reduce deficits.


well isnt this a nice surprise
Posted 7/31/11
Great.
Posted 7/31/11

"Someone has to say no. I will," said Rep. Michele Bachmann, R-Minn., a contender for the 2012 Republican presidential nomination.


Yup, the Republicans are already on stage making asses of themselves again. Who would've thought.

I don't care anymore, honestly. America isn't going to get out of it's debt because the party system only really serve to cockblock each other while the bureacrats lay in the lap of luxury. I l;iked one of the responses, "A deal, not a solution."

I'm also worried about my Social Security Insurance, since it is the only income I'll be getting for awhile.
Posted 7/31/11
Isn't that peachy... Yay we get to shave off 2.4 trillion dollars of the 14.5 trillion dollar debt in over a decade
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23 / M / Toronto, Ontario
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Posted 7/31/11
Be Honest, who thinks im cute?
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34 / M
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Posted 7/31/11
The damage has been done thanks to both parties.
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M / Anime convention
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Posted 7/31/11
Note to U.S. Politicians: You can't borrow yourself out of debt... no one can... it's like you're trying to drink yourself sober.
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104 / F / Indianapolis, Ind...
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Posted 7/31/11
Repeat after me: Another way to screw the American citizens and make them think we're helping them.
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27 / M / Louisville, KY
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Posted 7/31/11

TheModernDayZombie wrote:

Isn't that peachy... Yay we get to shave off 2.4 trillion dollars of the 14.5 trillion dollar debt in over a decade


I believe it shaves 2.4 trillion off of what we would of had in a decade. Meaning instead of say 20 trillion debt we will see a 17.6 trillion debt. I could be wrong though.
Posted 8/1/11
America is still doomed.
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33 / M / Tardis
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Posted 8/1/11
Basically this deal is a big FU and you're screwed to the States government, as they have to pick up the slack and cant afford to do so. In fact, this deal pretty much kills off any recovery from the recession. Ah well........
Posted 8/1/11
Congress will still have to vote for this. America is not out of the danger of default, yet.
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