The Real Reason The Debt Ceiling Fight Was Horrible News For Markets

Joe Weisenthal, how are you still employed? This article is garbage and you didn't even finish your research. Come to find out FEMA didn't need any money. They are so poorly managed that they misplaced or mis-accounted for 7 billion dollars. Please, the current democrats are using made up mis-truths to paint the other side as not wanting to help. That is 100% wrong. If you believe it I suggest you start school again from 9th grade and pay attention this time will you.

Be lucky you have a job. I never would have believed that this opinion piece would be peddled as journalism.

One term limits for all Congressmen. This way they'll focus on fixing the issues at hand without worrying about getting re-elected.

The only difference between the two parties now is who they give your money to.

National Debt : 14,804,140,730,022........

This is what is wrong with America today. Re-electing a party member is much more
important than the well-being of a whole nation.

Republican/Democrat...really, what's the difference any more?

Progressive Propoganda. Guess you can campaign for Demo/Socialist party without using your money.

Look at the excess spending that has been going on for over four years. Look at the excessive money poured into housing by federal housing rules and agencies (Fammie Mae). Its time to reduce the waste in Washington instead of using taxpayer money to buy votes. Tax reform and closing loopholes will help. (Lets see, Low Income Housing Credit, Green Energy Credit, Home Purchase Credit, Alternative Fuels Credit, Retirement Savings Credit, Additional Child Tax Credit, Low Suplpher Diesel Credit, Agricultural Security Chemical Credit, Additional Child Tax Credit..)

why hasnt our gov reduced its excessive pay and bonuses. you could save us some money by not having 500 lights on all day every day, or eating more regular foods not the grossly overpriced highest end (do a lil chuck roast), travel one less trip on your leased lear jet.

I thought massive debt was a bad thing for corporations or individuals. But then
the deregulation MBA finance "experts" took over and look at us now.

The GOP and Koch is specifically and directly responsible for the madness you cannot get your arms around right now. Sit there and pretend....go ahead.....Rome is burning around you....and all you have is that little bucket of water you are standing in...

Debt Ceiling Fight horrible for market ? - how about JOBS (and not Steven). How about a president who might actually LEAD (oh - Forgot - he has NEVER actually lead anything) not just bellyache. How about no more BlankCheck Obama - let's learn to pay our own way - all of us - each of us!

I am mad at the Republicians for caving into the Democrats manical drive to destroy our country. Cut the federal govt. in half, cut taxes. Restore the freedoms the Democrats have taken from us through the huge federal agencies that are waging war against us.

math: USGov collects 900 Billion per year in personal income tax. top 10% pay 70% - repeal bush tax cuts, tax revenue goes up b/w 60 and 100 billion, depends on how bad it affects jobs. deficit is 1.3 trillion. it will reduce deficit by about 6%. that's all folks. Obama knows this.

Republicans are worried about disaster relief when our wars are funded with borrowed money amounting to trillions to the national debt. The estimated 2 to 4 trillion for the wars in Iraq and Afganastan are a on going real problem for the deficit. Even during the Viet Nam War a sur tax was charged to help pay for it. The wealthy will leave when our country does default including members of congress with their special interest money buying a ski chalet in Swiitzerland along with most of the US corporations....

"All truth passes through three stages. First, it is ridiculed. Second, it is violently opposed. Third, it is accepted as being self-evident." - Arthur Schopenhauer (1788-1860)

one more thing- the very day Obama threatened Social Security was the beginning of the stock collapse-
Obama- someones hero- in reality a walking economic disaster

I did not vote for Obama. Having said that I will NEVER forgive a Republican congress that raised the debt limit with no comment while President Bush was pursuing his foreign adventures on behalf of the traitor neo-conservatives with their despicable divided loyalties.

This year I intend to vote Democratic, the Republicans (Tea Party inbreds) have proven they only care about elections and NOT the economy.

A very wise and truthful commentary by the author.

"The cuts next year aren't actually all that dramatic, although they're certainly very unhelpful at a time when the private sector is weak and deleveraging." Er, the private sector is overloaded with cash, and record breaking profits. None of this has been translated into hring because we American workers have become too efficient.

"The Republicans have even shown an unwillingness to deal with actual natural disasters." we just sent a tone of money to help Ethiopia with drought relief. We bailed out European banks. When will we put our citizens first?

Only obvious solution is next year, namely to vote all incumbents out, regardless of party. And that starts with PRIMARIES, vote for the ones who are not incumbent there. That will allow you to be loyal to your party, just not to your senator/congressperson.

Hoover economics didn/t work in the thirties and won't work in the 21st century either.Sometimes you need to go into debt and spend your way out, but not on more government, but on private sector jobs that pay taxes. For one, you can't have a government you can't afford. What good is it when you pay fo things it cannot do. Example you have a state highway department that costs billions to run, but doesn't have money to build roads.
The debt ceiling is a great idea, but unless your private sector can catch up and get going you won't have the engine to support government . The problem with the fiirst stimulus was that the states took the money and balanced there budgets with it and the money wasn't spent on construction projects that put the private sector to work which pays taxes and turns over more times in the economy.
Another thing does anybody know what the two wars and homeland security are costing? That is the core problem and is what has sent our debt into orbit. Remember prior to 2001 we were not paying a dime on this stuff. Now after 18 guys and a rich Arab took contol of 4 airplanes this is what we got billions of new debt.So before we cut up uncle Sams credit card and wait for the private sector to cauch up like the Hoover people want (the teabagers) are you willing to wait years and watch people lose there homes and watch your children struggle and maybe live worse then you do today because of a debt ceiling. After WW2 we had more debt then we have today based on our GNP.

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Quiz: Which candidate gives us a clear plan as to how they would straighten out this economy and create jobs??? What is their plan? To really answer the question, please list the candidate and explain what they would do to create jobs and straighten out the economy.

Facts and Food for Thought Regarding our economy:

Obama did not cause this problem.....he inherited it. He inherited a $11 Trillion dollar debt, two unfunded wars, the Bush tax cuts, an economy on the verge of another Great Depression, the banks failing, the auto industry failing, the housing market crash, 750,000 monthly job losses, and the worse stock market crash since the Great Depression!!

Every major economic adviser has stated that a recession of this magnitude will take several rounds of stimulus and tax increases and 4-8 years to climb out of this mess. Did everyone think that Obama had a magic wand to fix the problem in 2 1/2 half years??? IT TOOK US 12 YEARS TO GET OUT OF THE GREAT DEPRESSION AND IT WILL TAKE US LONGER THAN 2 1/2 YEARS TO GET OUT OF THIS TERRIBLE RECESSION THAT BUSH CAUSED!!

Obama was on the right track....his first stimulus was working...it stopped the monthly 750,000 job loss bleeding and saved the auto industry from going belly up, which saved millions of jobs...it also created an additional 2 million jobs....but we need more stimulus and increased taxes. It takes so much more to get out of the worse recession since the Great Depression!

And the GOP majority House has been obstructing everything he tries to do to help the economy. They also have made things worse by their game playing and obstructionism regarding raising the national debt. Those games are was caused our country to be down-graded for the first time in history....per Standard and Poor!! Since the down-grading, our economy has been nose-diving again.....THANKS GOP CONGRESS!!

I do know that our national debt problem needs to be addressed.... but every major economic adviser states that trying to balance the budget during a recession will make it MUCH WORSE!! The REPUBLICANS are just trying to make it worse by playing their political games and obstructionism to make Obama look bad as bad as possible, so they can get a REPUBLICAN president!!! THAT IS MORE IMPORTANT TO THEM THAN HELPING OUR ECONOMY!!

Why were they not concerned about the National Debt under Bush?? When he became President, the national debt was $5Trillion, when he left it was $10.7 Trillion...he doubled it!!! And unemployment went from 4% to 8.7%...that doubled too!! He also raised the debt ceiling 7 times!!! WHY WAS THE NATIONAL DEBT NOT A CONCERN THEN?? WHY WAS RAISING THE DEBT CEILING NOT A CONCERN THEN?? YOU DON'T MAKE AN ISSUE OF IT DURING THE WORSE RECESSION SINCE THE GREAT DEPRESSION!!! MOST ECONOMIC ADVISERS STATE THAT DOING SO WILL DAMAGE THE ECONOMY EVEN FURTHER THAN IT ALREADY IS!!! MISSION ACCOMPLISHED GOP!!!