Saturday, April 9, 2011

Next on the Agenda for Washington: Fight Over Debt

According to the New York Times, with the 2011 budget finally enacted, Congress would now move on to an even bigger fight – the fight over the debt ceiling. The Tea Party would refuse to raise the debt ceiling unless the Democrats agreed to reduce government spending. Unless both sides reached an agreement, the U.S. government would default on its debt. Financial markets would crumble. Depression would ensue. Etc., etc.

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