Jobs | Daniel McAndrew

Huffin And Puffin Then Leavin The Debt Talks

Judge for yourselves. Apparently, the debt talks haven’t gone too well today.

“Eric, don’t call my bluff,” the president said, warning Cantor that he would take his case “to the American people.” He told Cantor that no other president — not Ronald Reagan, the president said — would put up with the treatment he was getting from the House majority leader.

Democratic sources dispute Cantor’s version of Obama’s walk out, but all sides agree that the two had a blow up. The sources described Obama as “impassioned” but said he didn’t exactly storm out of the room.

But then, here’s the scoop on just how, exactly, the Treasury has to operate should the debt ceiling NOT be raised.

Yeah. Pass that around.

Financial Future For Who?

Us? China?

There is way too much in the way of articles, essays, opinions to opine about here.

Instead, here are a few links to whet your whistle, or increase your angst:

“China has dropped 97 percent of its holdings in U.S. Treasury bills, decreasing its ownership of the short-term U.S. government securities from a peak of $210.4 billion in May 2009 to $5.69 billion in March 2011, the most recent month reported by the U.S. Treasury. . . .”

29 Months into the most Left Wing U.S. Presidency and we are heading into an economic disaster.

More bad economic news.

I have one question:

How can one man, such as our President, solve this crisis when it is Congress that has helped him more than triple our indebtedness (and waants to spend even more) and our primary lender is separating itself from our poor financial dealings?

New Book Explains A Lot

A brief description of Reckless Endangerment: How Outsized Ambition, Greed, and Corruption Led to Economic Armageddon:

In Reckless Endangerment, Gretchen Morgenson, the star business columnist of The New York Times, exposes how the watchdogs who were supposed to protect the country from financial harm were actually complicit in the actions that finally blew up the American economy.

Drawing on previously untapped sources and building on original research from coauthor Joshua Rosner—who himself raised early warnings with the public and investors, and kept detailed records—Morgenson connects the dots that led to this fiasco.

Get it at Amazon.

Time for Self Education

Ballooning deficit spending and projected insurmountable national debt was known waaaaay back in 1986.

Don’t believe it? Watch the videos in this article. One was refused by all the national TV news networks at the time.

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