-
-
Re: Yo, Heads up.............Debt Deal, Debt celling up $2.7 Trillio, same in cuts..
sounds more like '3 card monte'Originally posted by Mega View Post
"...Sources familiar with the outlines of the deal say it would raise the debt limit by about $2.7 trillion and reduce the deficit by the same amount in two steps. It would cut about $1 trillion in spending up front and set up a select bicameral committee to put together a future deficit-reduction package worth $1.7 trillion to $1.8 trillion...."
and more in the 'hand is quicker than the aye' dept
Reid's announcement comes after the Senate voted largely along party lines Sunday afternoon to block a proposal he drafted that would have raised the debt limit by $2.4 trillion.
The vote to end a GOP filibuster failed 50-49. Only Sen. Scott Brown, a centrist Republican from Massachusetts, defied the GOP leadership.
Sen. Joe Manchin (D-W.Va.), Sen. Ben Nelson (D-Neb.) and Sen. Bernie Sanders (I-Vt.) voted against Reid's plan, as did Reid himself in a procedural move that would have allowed him to bring it back to the floor.
For a concise, readable summary of iTulip concepts developed over the past 16 years and a vision of a challenging next decade and how to navigate it, read Eric Janszen's book "Post Catastrophe Economy".
Join the discussion of today's events with a wide range of professionals with an interest in economics and finance. Register to join our 50,000 plus member registered community from 78 countries today.
Subscribe to iTulip Select for access to the longest running, deep, accurate, and unvarnished macro economic trends analysis and forecasting available, since 1998.
- If this is your first visit, be sure to check out the FAQ by clicking the link above. You may have to register before you can post: click the register link above to proceed. To start viewing messages, select the forum that you want to visit from the selection below.
Working...
Tweet
Comment