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| Great White North |
| Canadians ignore the U.S. debt-ceiling standoff at their own peril |
| 2013-01-15 |
| Commentators have cried wolf about debt ceilings and fiscal cliffs so often that Canadians can be forgiven for ignoring the latest confrontation brewing between President Barack Obama and Congress. But that would be a mistake. A perfect storm (to mix metaphors) of three separate fiscal and legislative crises is converging on Washington. Unless the administration and Congressional leaders can find a way to disperse that storm, the United States government could default on its debt, be forced to cut a trillion dollars from spending or simply shut down. The price of staving off any one of these disasters may be allowing one of the others to happen. And that would be very bad news for the Canadian economy. Over the past few years, the Americans have punted a series of debt and spending deadlines time and time again. Now all the deadlines are arriving at once. On March 1, “sequestration” kicks in, the first tranche of $1.2-trillion (U.S.) over nine years in mandatory spending cuts – half of them to Defence – unless Congress and the administration can find another way to rein in the U.S. government’s trillion-dollar annual deficits. |
| Posted by:tipper |
| #7 Weird, above post should be in texas thread. Wow the lag is horrid out here today. We've got a storm front moving out to where the ship is. 8-10 foot waves with occasional 14:) I love rough weather out here. |
| Posted by: Silentbrick - Schlumberger Squishy Mud Division 2013-01-15 19:38 |
| #6 You know, since I had to leave Wyoming, at least I got to move to Texas. |
| Posted by: Silentbrick - Schlumberger Squishy Mud Division 2013-01-15 19:18 |
| #5 A bit too late for the "Do Not Promote" entry eh Broadhead6 ? |
| Posted by: Besoeker 2013-01-15 09:18 |
| #4 yep, "Ductus Exemplo" for thee, and "duck the example" for me... |
| Posted by: Broadhead6 2013-01-15 09:12 |
| #3 Yes, strange how that happens isn't it P2k. Says a great deal about leadership and personal sacrifice does it not ? |
| Posted by: Besoeker 2013-01-15 08:32 |
| #2 Notice it's never the pay or perks of the elected officials who's income may be deferred for not doing their jobs. Something to be hardwired in the next Constitution (V.2). |
| Posted by: Procopius2k 2013-01-15 08:23 |
| #1 Yes, yes, yes were told yesterday in the presidential news conference that Social Security and military pensioner checks may be "delayed". No intent to frighten or issue a threat to anyone mind you, but we must ensure that those who have invested in the old America, shoulder the burden of government failure. As we all know, in brave new world of fairness and 'needs based entitlements', they can afford to.... |
| Posted by: Besoeker 2013-01-15 07:58 |