Both sides agree Senate budget deal

Looks like you're back in business guys

Senate leaders on both sides of the US political divide have reached a deal to avoid financial default and end the government shutdown.

Democratic leader Harry Reid made the announcement at the start of the Senate session.

The deal would reopen the government until January 15 and increase the nation's borrowing authority until February 7.

Mr Reid thanked Republican leader Mitch McConnell for working out an agreement.

Earlier both had been optimistic of reaching a deal that worked.

Linky

Well done and good luck

Cody

And on Feb 7 we will start this over again.

The kicking of the can down the road goes on, another Failure of american politics to deal with the Debit the likes of which the world has never seen.

How morally bankrupt have we become that the choice to hand this problem to later generations is the better option than shouldering this burden and refusing to pass the cost of our greed onto our children?

ETA:

This is what happens when we capitulate and raise the ceiling

This is coming from the Senate.

The House has to vote later.

Any comments from the House members yet ?

reply to post by xuenchen


So Obama has another 3 years right? so how many times a year can we expect this again?

When I clicked on this thread, you had posted it 5 minutes ago. When I clicked on the link to the story, it had been posted 51 seconds ago. I don't have a clue as to how this is possible.

Anyway, "we" always knew this circus would end...before the deadline. Both parties nauseate me!

Edit: Geez, Louise, I was so concerned about that '51 seconds' thing, that I did not allow the full story to enter my brain. It still has to go to the House, right? And get passed there, right? May the circus continue! LOL

Senduko
reply to post by xuenchen

 

So Obama has another 3 years right? so how many times a year can we expect this again?

Look at the graph in my post I added, Look how often we already have gone through this debacle, each time they promised to cut spending.

Each time they did the opposite.

7 trillion in 5 years, thats a level of irresponsibility that is down right criminal negligence.

An 11th hour deal that pulls the country back from the brink of destruction? Who woulda thought....

Oh wait... anyone who realizes this is all just a big #ing show, a play, a theater performance for the proles to be entertained and pacified by.

Two things will never (willingly) happen: a taking away of entertainment, and a taking away of food.

Bread and circus keep the proles inline. Theyll tolerate anything as long they have those two things.

Here's a weird thought I had.

"I hope the House votes it down."

Not really, but it would just go to show at what lengths the Tea Party is willing to disrupt the average American's lives for a pissing match of ideology.

~Tenth

Senduko
reply to post by xuenchen

 

So Obama has another 3 years right? so how many times a year can we expect this again?

'How Many Times' is not the problem.

The problem is what will happen when demand for U.S. Treasury securities falls off further.

Then interest rates will have to go up.

The long term solution is to limit borrowing and limit government spending.

The only way to do that is to limit imports and increase manufacturing and production.

The big resistance on that plan is coming from the foreign banking interests.

The U.S. needs to think about just *WHO* are friends and *WHO* are the economic enemies.

The 14th Amendment talks about *Insurrection*. Maybe we are under economic attack and don't know it ?

Think about that.

Then think about how to reverse that attack.

The continuing deficit spending is not benefiting American citizens.

The whole thing is complicated by design.

tothetenthpower
Here's a weird thought I had.

"I hope the House votes it down."

Not really, but it would just go to show at what lengths the Tea Party is willing to disrupt the average American's lives for a pissing match of ideology.

~Tenth

Or principles?

?????????????????????????????????

Please tell me that Americans haven't fallen for this whole YAH WE MADE A DEAL AT THE LAST MINUTE, LOOK HOW CARING WE ARE ABOUT YOU GUYS, rubbish?

I mean seriously do they think that people dont see this coming? they will always claim its done at the last minute, in fact i will make the prediction now. when this deal comes to an end, there will be a stand off, Obama's people will go on tv and say Oh those evil Republicans, they wanna hold you all down, they dont want to have a strong AMERICAN future, they're breaking the greatest country on the planet. and Republicans will go on tv and say the exact same thing about the democrats.

Its all BULLSPIT and a ridiculous game show and if people cant see it then i think they should go and lock themselves back in their little world where clouds are made of candy floss and the world is full of happy and loving people.

Oh and one last thing, can we get off this whole AMERICA is the greatest nation on the planet, please. im not gonna attack the country and list their failings but there are dozens of other countries that do better in the world than they do and being from the UK (A nation that i am proud of and love, just hate the current government) is not on the top of my list.

Sorry about the last paragraph, it just get on my nerves lol.

A last minute deal? Who could possibly have seen this coming? I'm shocked I tell you. Shocked.

reply to post by beezzer


If you think the 'principles' of the tea party are in line with the ones of the middle class average American, than then I don't really know what to say.

The GOP need to remove these folks from their ranks lest they continue to be the laughing stock of the political world.

You can't play chicken with a country's economy. Regardless of 'principles'.

~Tenth

reply to post by xuenchen


You can only increase manufacturing if the corporations that make stuff agree to ramp up production.

The only way they will agree do to so is if there is profit in it for their shareholders.

The only way there will be profit in it for the company is if Americans have money to spend on their products.

I suppose the government could impose insanely high tariffs and taxes on imports, making it virtually unprofitable to import cheap goods from overseas...but I'm not sure that would cause companies to re-open factories or build new ones.

reply to post by MystikMushroom


Well this is awkward, you have Tenth's old avatar xD

Wow a last minute solution was reached, just like every other time... Man call me stunned... Now the American public can forget about all this until February and we can go through all this excitement again. What fun!

tothetenthpower


You can't play chicken with a country's economy. Regardless of 'principles'.

~Tenth

Isn't that what the dems (and republicans) are doing by raising the debt ceiling and spending into a 17 trillion dollar deficit?

reply to post by tothetenthpower


I agree that the rest of the GOP needs to "police" their Tea Party faction a little bit more. I mean, there has to be some leverage they can use over these guys...drugs, prostitutes, DUI's, money laundering, campaign finance fraud....all these guys are crooked to some degree.

Washington DC is run on blackmail and backroom deals.

reply to post by Senduko


I've had it for quite a long time, and when I took a break from ATS and came back, I notice Tenth's was changed.

reply to post by xuenchen


yea, really ... Ain't that a chapter in The Art of War?