The Debt Ceiling Approacheth

[Direckshun]

Now that the fiscal cliff has been turned into various cliffs over the entirety of 2013 (should be a fun year, gang...), we can turn our attention the the next one coming up.

In February, we face the sequester cliff, followed shortly by the debt ceiling.

For all intents and purposes, this thread will be used as a repository for both cliffs.

The debt ceiling, of course, has far graver consequences for both the country and the planet. Treasury adopted emergency funding measures about two weeks ago.

[Direckshun]

This is classic.

[Direckshun]

This just in: 97% of economists disagree with mlyonsd.

[Comrade Crapski]

What happened to that promise Barry made about cutting the deficit in half?

[mlyonsd]

Originally Posted by Direckshun

This just in: 97% of economists disagree with mlyonsd.

The only thing that tells me is Obama has things so ****ed up only 3% of the economists know what they're talking about.

[Direckshun]

Originally Posted by mlyonsd

The only thing that tells me is Obama has things so ****ed up only 3% of the economists know what they're talking about.

Obama has made economists dumber.

Just, genius.

[Comrade Crapski]

97% of economists work for the federal government or in academia.

Moonbats all.

[BucEyedPea]

Originally Posted by Comrade Crapski

97% of economists work for the federal government or in academia.

Moonbats all.

That's true. So they have a statist pov as they work for the people who pay them.

[Direckshun]

The GOP is now buckling.

Paul Ryan is saying the GOP is weighing a short-term increase of the debt limit.

Stay tuned, kiddies.

[Comrade Crapski]

Originally Posted by Direckshun

The GOP is now buckling.

Paul Ryan is saying the GOP is weighing a short-term increase of the debt limit.

Stay tuned, kiddies.

sure thing mister slave.

[mlyonsd]

Originally Posted by Direckshun

Obama has made economists dumber.

Just, genius.

You're just no fun anymore. Well, ever really.

[Direckshun]

Originally Posted by mlyonsd

You're just no fun anymore. Well, ever really.

That literally was going to be what I'd post. I'm literally never fun.

[FD]

Originally Posted by FD

Failing to raise the debt ceiling wouldn't cause a government shutdown, at least not how we traditionally use that term. It would cause a catastrophic default and massive recession. While most Republicans in the House do seem to find this option acceptable, there is no way Boehner does. In the end, I think he will blink.

As expected, the House blinked first and basically surrendered unconditionally on the debt ceiling. I must admit I thought it would take a lot longer but the result was inevitable.

[BucEyedPea]

Originally Posted by Comrade Crapski

sure thing mister slave.

I read the same thing yesterday. No spines.
This is what would have happened under Mitt too

[Direckshun]

Originally Posted by FD

As expected, the House blinked first and basically surrendered unconditionally on the debt ceiling. I must admit I thought it would take a lot longer but the result was inevitable.

Not unconditionally -- not yet.

They're saying they're willing to raise it for three months.

Just awful stuff, as it continues to fester another cliff over the year.

This is just dousing the economy in uncertainty. This needs to get done for at least the Obama presidency, if not forever.

[Direckshun]

It will probably get raised, by the way, without hard right and Tea Party Republicans.

The new majority of moderate Republicans and all Democrats is the new majority.