• 526 days Will The ECB Continue To Hike Rates?
  • 526 days Forbes: Aramco Remains Largest Company In The Middle East
  • 528 days Caltech Scientists Succesfully Beam Back Solar Power From Space
  • 928 days Could Crypto Overtake Traditional Investment?
  • 933 days Americans Still Quitting Jobs At Record Pace
  • 935 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 938 days Is The Dollar Too Strong?
  • 938 days Big Tech Disappoints Investors on Earnings Calls
  • 939 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 941 days China Is Quietly Trying To Distance Itself From Russia
  • 941 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 945 days Crypto Investors Won Big In 2021
  • 945 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 946 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 948 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 949 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 952 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 953 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 953 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 955 days Are NFTs About To Take Over Gaming?
What's Behind The Global EV Sales Slowdown?

What's Behind The Global EV Sales Slowdown?

An economic slowdown in many…

How The Ultra-Wealthy Are Using Art To Dodge Taxes

How The Ultra-Wealthy Are Using Art To Dodge Taxes

More freeports open around the…

  1. Home
  2. Markets
  3. Other

Maybe The Debt Ceiling Won't Be Raised Before August 2

I came across a very interesting quote today. Should the US economy either enter recession or fail to improve before the 2012 presidential election (both safe bets) the president "owns" this economy.

I'm not a fan of Obama, nor of Bush nor of any of these political "leaders." I throw that caveat out because my goal is not to get into any political discussion on this site. So here is the interesting quote from Republican Mitch McConnell

"The reason default is no better an idea today than it was when Newt Gingrich tried it in 1995 is that it destroys your brand and would give the president an opportunity to blame Republicans for a bad economy."

The president and the Democrats have an "opportunity" to go for big cuts and say they both fought for the future of America and the Republicans are to blame for the economic weakness. I honestly never thought the debt ceiling would not be hiked until today. Political gain at the expense of an "unforeseen emergency." The odds in my opinion have gone up significantly.

 

Back to homepage

Leave a comment

Leave a comment