from cbsnews: President Obama signed a hard-fought, last-minute compromise bill to avert economic catastrophe Tuesday, saying the deal to cut spending and increase the nation's $14.3 trillion debt limit marked an "important first step to ensuring that as a nation we live within our means." The bill, he said, was the outcome of a "long and contentious debate" to avoid a man-made economic disaster that he described as creating "unsettling" economic uncertainty. He said that while voters chose divided government, "they sure didn't vote for dysfunctional government."previous: white house & congress critters close in on debt deal
related econocrash updates:
satire: drunken ben bernanke tells everyone at neighborhood bar how screwed the US economy really is*
the committee of 13 & the debt ceiling deal from hell*
US eats up most of debt limit in one day*
US borrowing tops 100% of gdp*
moody's confirms US aaa rating; meanwhile, food stamp use rises to record*
georgia & colorado bank failures cost US $2.5b*
howard stein, who helped teach public to invest, dies at 84*
US govt sues ubs for $900m, charging mortgage fraud*
reid announces deal to end faa shutdown*
dow plunges 512 points: here's what's bothering the stock market*
video: pelosi on house floor - 'novus ordo seclorum'*
2 comments:
How insane...he said "avoid a man made economic disaster"....how does expanding debt limit solve the debt problem in a financial system designed to be forever in debt?!!!
I think the voters did not vote for either a divided government or a dysfunctional government...
..they voted for a future..and got the past...again. Let's see....I predict the debt graph will rise to another astonishing level and no one will remember all this nonsense the next time around, and round and round we go...where it will stop...do you even know???
C'mon people...THINK!!! Sheesh!
sock puppet theatre strikes again!
Everyone go back to sleep!
Can they keep doing this until we have a quadrillion national debt? Stay tuned...
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