Zero Hedge: Possible Debt Ceiling Deal in the Works

Zero Hedge: Possible Debt Ceiling Deal in the Works

www.zerohedge.com

The speculative headlines on the debt ceiling status are now coming in fast and furious. The latest is from Reuters according to which President Barack Obama and U.S. House Speaker John Boehner are discussing a possible deal that would include $3 trillion in spending cuts over 10 years to avert an unprecedented U.S. default, a senior Democratic congressional aide said on Thursday. Their potential agreement would include a promise of tax reform in 2012, the aide said. In other words, this is not a deal at all, but merely promises of cuts at some point in the future, coupled with tax reform...in

(visit the link for the full news article)

Durden's sources say $2.5 trillion deal with 'promise' of tax reform and funding cuts sometime in 2012. In other words, a non-deal deal. Remember the ratings agencies tied our AAA rating to an actual, real cuts/revenue deal, which we won't have with this.

This is an interesting turn of events....repubs cave, dems cave, and we lose.

www.zerohedge.com
(visit the link for the full news article)

CNN now reporting that spending cuts and entitlement cuts may occur with the ceiling increase, but tax reform would potentially come 'later.'

CNN Article

In other words, stick it to the little guy ONE MORE TIME, reduce infrastructure/agency spending AGAIN, and keep the top 1% insulated. If this happens, whatever Obama has left of his credibility on anything is gone.

And Con-gross do what they due best obfuscate make claims of cuts but put them off for another couple of years while they spend trillions more. Yeah we all know how that works. I know what these scum will do every time i am more curious how much the American people will let them get away with. From the looks of it so far complete subjugation and murder rape and slavery are not out of the question.

Originally posted by samcrow
In other words, stick it to the little guy ONE MORE TIME, reduce infrastructure/agency spending AGAIN, and keep the top 1% insulated. If this happens, whatever Obama has left of his credibility on anything is gone.

Pretty much. All tax rates will go down (something Obama has always been against in regards to the top 2%) but somehow through ending tax loopholes, etc. tax revenue will remain the same? I have a hard time believing that. I can't find any actual concrete information how this will actually be accomplished in articles I've read, it's been very vague.

Obama is making it pretty hard for me to vote for him again. Maybe I won't vote in 2012 or do a write in.

Anytime i try a link from this site or anywhere else that is for zerohedge it goes straight to the IANA site. its like they are blocking zerohedge. i cant seem to bring up zerohedge at all. im thinking there is something there TPTB dont want the people to know about. Or am i the only one.

Originally posted by darthlung1
Anytime i try a link from this site or anywhere else that is for zerohedge it goes straight to the IANA site. its like they are blocking zerohedge. i cant seem to bring up zerohedge at all. im thinking there is something there TPTB dont want the people to know about. Or am i the only one.

That's strange. My link seems to be working.

Oh man... we're now legislating promises.. and from politicians no less.

Should probably take a look at how the vast majority of promises made by politicians turn out.

I just can't fathom what planet these people are living on.

"Yeah raise the debt ceiling now, but uh... we promise, we'll make cuts next year, even though we can't afford to do so right now, and will be in a worse position next year."

Boehner ends debt talks with Obama and isn't returning his calls, says he is just going to discuss it with Senate leaders.

We're being lead by children in business suits.