Tuesday, July 26, 2011
Dancing with Default
This past weekend President Obama called for a mandatory meeting to try to come to a resolve to raising the debt ceiling. Top lawmakers met with the president, but was anything settled upon? Are we any closer to a solution? Dr. Paul Craig Roberts, former Reagan Administration Official, sheds some light on the situation.
House Speaker Says Obama Won't Get 'blank Check'
House Speaker John Boehner says Pres. Barack Obama wants a blank check from Congress to raise the debt ceiling, but that he's not going to get one. In his response to Obama's televised address, Boehner gave no indication of compromise.
Obama: Default Would Be Reckless, Irresponsible
President Barack Obama says the only ones standing in the way of a balanced compromise to the nation's debt crisis are those Republicans in Congress who are insisting only on spending cuts.
'Germany will turn out light on euro'
While the EU struggles to keep the euro afloat with bailouts for Portugal and Greece, and Spain looks to be next in line for a rescue package, financial journalist Johan Van Overtveldt believes the limit of what the EU can do for the euro is close. Johan Van Overtveldt believes that the EU will keep throwing cash into the failing economies until the Germany reaches its limits.
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