Boehner quits debt talks
Out of context: Reply #29
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- ItTango0
@eieio (this will be ham-handed but...)
US economy heads off in the wrong direction as it allows a full 70% of manufacturing jobs to head of to so-called 3rd word countries. The effects of this take a while to manifest, so no one pays attention.Fast forward: George W. Bush gives a fat assed tax break to the wealthy, while diving head first into 2 wars. Simultaneously, there is rabid investment (including pensions, 401ks, and the likes) in a "Housing Bubble" which eventually popped, and created a catastrophic fiscal black-hole which gets filled up by the government with money they didn't really have to spend... 'cause of the wars and tax cuts.
General flow of loot comes to a stand still, businesses downsize, or disappear, unemployment skyrockets.
Usually, the government would jump in with a spending bill (jobs bill) to jump start things, but the unusual circumstances leading up to this have made that impossible. Government is nearly broke and has bills to pay, which means we must take on more debt (selling bonds and so on) to raise the scrilla and make the payments.
This brings us to the debt ceiling. Raising it has been, for the most part, a matter of course. But the political climate has turned this simple act into a the pawn from hell.
Children are at the table, and well...