Posts Tagged ‘debt ceiling deal’
Friday Round Up: The Good, the Bad and the Ugly
It’s been quite a week between the lawmakers in Washington taking the debt-ceiling deal to the 11th hour and yesterday being one of the worst days in the financial markets since 2008. Yet despite all the chaos, this Friday’s Round Up is going deploy Power Tool #5 ‘Carpe the Chaos’ and keep marching forward to highlight some of the good, not just the bad and the ugly – we’ve had quite enough of that…
Debt ceiling agreement a fair compromise?
Answering today’s question, I realized there are two distinctly different kinds of deals: those that produce new ideas and those that reduce all ideas to the lowest common denominator.
Arena Asks:Facing the imminent prospect of default, the White House and Senate Republicans worked through Sunday to close a debt ceiling deal that gives President Barack Obama greater certainty in managing the Treasury’s borrowing needs while making a joint commitment to major deficit reduction without any explicit concessions by the GOP on new tax revenues. Is this a good deal? Which side came out ahead?
My Answer: Unlike Franklin Roosevelt’s New Deal, which created an expansive new vision for America, this Obama–Boehner–Tea Party Deal lowers our sights as a nation. It’s a deal in the negative, narrow, horse trading sense of the word. It is a leadership fail all around…
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