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Tuesday, 15 Oct 2013 | 12:14 PM (afternoon in U.S.)
US could be downgraded as soon as tonight
(S'pore time - tomorrow morning head line news???.)
teeth53 ( Date: 16-Oct-2013 00:05) Posted:
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Just For Politics stake. World biggest economy set for deep trouble
teeth53 ( Date: 14-Oct-2013 13:16) Posted:
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The day after tomorrow n the next morning. Mr President maybe out of job too.
'Cordial', talks under way in Senate (for - shutdown??? - All Jokers)
teeth53 ( Date: 14-Oct-2013 13:23) Posted:
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Is a deal near on shutdown, debt ceiling?
http://edition.cnn.com/2013/10/15/politics/shutdown-showdown/index.html?iid=HP_LN
teeth53 thot - Latest to avoid breakdown, Oct 18, n not on Oct 17.
teeth53 ( Date: 14-Oct-2013 13:07) Posted:
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Washington (CNN) -- [Breaking news update 11:50 a.m.]
House Majority Leader John Boehner is " struggling" to come up with enough votes to pass a GOP counterproposal to a possible Senate agreement to reopen the government and avoid a U.S. default, a House Republican leadership aide and other sources told CNN's Dana Bash and Deirdre Walsh.
teeth53 ( Date: 14-Oct-2013 12:55) Posted:
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?Sounds like everything the president asked for,? Representative Blake Farenthold, a Texas Republican aligned with the Tea Party movement, said yesterday.
Obama has insisted that Congress raise the $16.7 trillion U.S. debt limit without add-ons and that stopgap spending bills be free of policy conditions.
Boehner Options
A Senate agreement would put pressure on Hse Speaker John Boehner, who has a 232-200 Republican majority. He may have to decide whether to side with hardliners insistent on changes to Obamacare or rely on Democratic votes to pass a bipartisan Senate plan through the Hse.
Hse Republicans also may consider making changes and sending the plan back to the Senate.
Reid and McConnell may release the plan?s details as early as today. Any one senator could push a final vote until at least Oct. 18, after the debt ceiling is breached though before U.S. runs out of cash and begins missing payments between Oct. 22 and Oct. 31.
Hse Republicans were meeting at 9 a.m. in the Capitol and may consider separate debt-limit legislation on the floor. Senators will meet in party caucuses.
?We?ve made tremendous progress,? Senate Majority Leader Harry Reid, a Nevada Democrat, said yesterday on the Senate floor with his Republican counterpart, Mitch McConnell of Kentucky. ?We are not there yet.?
Senate leaders are poised to bring a halt to the fiscal standoff, and now must race the clock to sell the plan to lawmakers before U.S. borrowing authority runs out this week.
Lawmakers would be required to hold budget talks by Dec. 13, fund the government through Jan. 15, 2014, and extend the nation?s borrowing authority until Feb. 7, 2014, according to a person familiar with the Senate talks who spoke on condition of anonymity to discuss the concept.
U.S. lawmakers, who have governed from fiscal crisis to fiscal crisis for more than two years, may be setting up more crises in the near future. The agreement would delay the next major deadline -- the Jan. 15 lapse in government funding -- until after the holiday shopping season.
Tuesday, 15 Oct 2013 | 11:28 http://www.cnbc.com/id/101087385
CNBC's John Harwood says the lack of a specific proposal from House Speaker John Boehner's brief appearance before reporters indicates continued divisions within the GOP, strengthening the hand of the Senate.
President Barack Obama will meet with House Democratic leaders at 3:15 p.m. EDT, including Minority Leader Nancy Pelosi and Rep. Steny Hoyer.
The back-and-forth came as the partial shutdown entered its third week and less than two days away, said Treasury Department.
President Barack Obama will meet with House Democratic leaders at 3:15 p.m. EDT, including Minority Leader Nancy Pelosi and Rep. Steny Hoyer.
The back-and-forth came as the partial shutdown entered its third week and less than two days away, said Treasury Department.
While market (DOW) Investors wait for Washington to get act together.
(Read more: Senators hint at possible deal on Tuesday)
CNNMoneyInvest October 15, 2013: 10:23
Even if the Senate gets a deal, it still needs to win support in the House of Representatives, which is far from certain, ass there were reports Tues morning that the House may push a separate bill.
thanks for the constant updates
Monday, 14 Oct 2013 | 10:47
Latest news - Read more: Senate debt deal 'very possible': Sen. Bob Corker
Senate leaders are closing in on a deal Monday, one Senate Democrat privy to ongoing negotiations told CNBC.
" I feel more hopeful now than I have since October 1," said Jon Tester, D-Mont. " I think both Harry (Reid) and Mitch (McConnell) are talking.
What does the House do," he added. " Is the speaker (John Boehner) willing to put something on the floor that probably has enough votes to pass but may not be the most popular thing in the world?"
Tester, a Senate Banking Committee member, said he is confident the Senate's Republican and Democrat leaders would " do the right thing" and produce a common-sense proposal.
14 Oct 2013 - 9:10. US senators hint at possible fiscal deal on Tuesday
http://www.cnbc.com/id/101102553
Plan under discussion would promptly end a partial govt shutdown about to enter its 3rd wk. To raise debt ceiling, enough to cover the nation's borrowing needs at least through mid-Feb 2014, according to a source familiar with the negotiations.
Govt operations would be funded through the middle of January, keeping in place the across-the-board " sequester" spending cuts that took effect in March, though govt agencies would have more latitude to ease their impact. Also set up a new round of budget talks that would try to strike a bargain by year's end.
(Read more: Senate leaders closing in on a deal: Senate Democrat)
teeth53 ( Date: 14-Oct-2013 23:46) Posted:
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" ..... perhaps it's a good time for the befuddled world to start considering building a de-Americanised world ....."
teeth53 ( Date: 15-Oct-2013 00:02) Posted:
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Americanized? world 
Beijing aired its frustrations with the shutdown, saying it was time to consider a " de-Americanized" world order.
Reneging on its debt obligations would make the U.S. the first major Western govt to default since Nazi Germany 80 years ago.
U.S. May Join 1933 Germany in Pantheon of Deadbeat Defaults
On a rainy 13th day of a govt shutdown with a possible debt default looming, Senate comes into session but the Hse is closed, on Capitol Hill on Oct 13, 2013.
Germany unilaterally ceased payments on long-term borrowings on May 6, 1933, three months after Adolf Hitler was installed as Chancellor. The default helped cement Hitler?s power base following years of political instability as the Weimar Republic struggled with its crushing debts.
?These are generally catastrophic economic events,? said Professor Eugene N. White, an economics historian at Rutgers University in New Brunswick, New Jersey. ?There is no happy ending.?
Debt reparations piled onto Germany, which in 1913 was world?s 3rd-biggest economy, sparked the hyperinflation, borrowings and political deadlock that brought the Nazis to power, and the default. It shows how excessive debt has capricious results, such as the civil war and despotism that ravaged Florence after England?s Edward III refused to pay his obligations from the city-state?s banks in 1339, and the Revolution of 1789 that followed the French Crown?s defaults in 1770 and 1788.
Failure by the world?s biggest economy to pay its debt in an interconnected, globalized world risks an array of devastating consequences that could lay waste to stock markets from Brazil to Zurich and bring the $5 trillion market in Treasury-backed loans to a halt. Borrowing costs would soar, the dollar?s role as the world?s reserve currency would be in doubt and the U.S. and world economies would risk plunging into recession -- and potentially depression.
If Not For Politics
- Fiscal Agreement Lacking as U.S. Borrowing Lapse Looms
- U.S. Risks Joining 1933 Germany in Pantheon of Deadbeats
- '13th Hour' Debt Scenario: Scared Straight by the Mkt this Friday
teeth53 ( Date: 14-Oct-2013 12:55) Posted:
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