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Urgency and Common Sense on Debt Ceiling Don't Penetrate the House - NYTimes.com

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House Republican leaders announced that they would waste precious days next week on spending caps and a balanced budget amendment. "The measure they propose would make a radical cut of $111 billion in 2012, then limit federal spending to 19.9 percent of the gross domestic product by 2017, far less than the current 25 percent and not nearly enough for Americans' needs" ..."At this late stage, this plan is a dangerous delusion suggesting that the House leadership regards the gravity of a default as seriously as it does global warming. Perhaps it didn't notice that Standard & Poor's, the rating agency, said on Thursday that the failure to raise the debt ceiling would most likely have "detrimental and long-lasting" effects on economic growth." President Obama pleaded for his "overly generous offer to the Republicans to cut up to $3 trillion in federal spending over the next decade"
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I began teaching in 1963,; Ba and BS in Education -Brooklyn College. I have the equivalent of 2 additional Master's, mainly in Literacy Studies and Graphic Design. I was the only seventh grade teacher of English from 1990 -1999 at East Side (more...)
 

Related Topic(s): Debt GOP; Default; Economic; Republican, Add Tags
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