The federal government will hit the debt ceiling on December 31.


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The day of reckoning looms: The federal government will hit the debt ceiling on December 31.

The treasury will do things to stall the inevitable crash, but in the end, our elected leaders – backed by the voters — are doing nothing to solve this debt problem. (On this note, consider the absolute refusal of this Democrat to consider any spending cuts in negotiations with the Republicans.) The crash is coming.

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One comment

  • I’d take the $400,000 soak the rich deal Obama is offering in exchange for a cut in the corporate tax rate from 35% to 25% in order to simulate job growth. Obama promised such a cut months ago, so he might just go for it. If the House Republicans insist on no tax increase for anyone, Obama will just let the Bush tax cuts expire and blame the Republicans. The economy will tank and the Republicans will get killed in the 2014 mid-term elections–making Pelosi Speaker of the House once again. With the Dems in control of both houses of Congress, the Obamanistas will run wild. Think Obamacare is bad? God help us if this comes to pass. Sometimes its better to take a small piece of the loaf than dig in one’s heels and starve. To those Republicans who oppose Boehner’s attepts to get a compromise “on principle,” I suggest you look at the bigger picture. A guy named Hoover stood on principle and look what that led to.

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