7/13/2011

The Debt Ceiling Wednesday July 13, 2011

Carney july 13 2011

Pittsburgh, Pennsylvania – July 13 –

I have been looking at articles concerning the debt ceiling during the day.

Some Democrats like the proposal by Mitch McConnell, which proposed allowing the president to raise the debt limit before August 2, again in the fall and in the summer of 2012. The White House said that the plan was not the preferred option.

Newt Gingrich came up with a proposal to increase the debt limit $100 billion each month, with corresponding spending cuts, consecutively.

President Obama held his daily meeting again today. Still photographers were allowed to take pictures, but video cameras and other types of reporters weren't allowed. I didn't see any reports of progress.

Many people think a default by the US government would be similar in some respects to the shutdown in Minnesota. It was reported today that some beer distributors in Minnesota may be shut down.

President Obama’s idea that any short term proposals are off the table may earn him a reputation of being unreasonable. The acceptance of Mitch McConnell’s proposal by Reid, Pelosi, and other Democrats sheds a light upon President Obama. Insistence on tax or revenue increases led to the shutdown of Minnesota by Democrat Mark Dayton. Insistence on tax or revenue increases by President Obama could lead to catastrophe August 2, if Geithner is correct.

Government is not the solution to problems, it is the problem. Ronald Reagan