Breaking News: House Republicans Voting Tonight to force a Government Shutdown

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    Breaking News: House Republicans Voting Tonight to force a Government Shutdown


    With 2 days until the government runs out of money, House Republicans have made their choice. They’re voting TONIGHT to force a government shutdown unless they get a one-year delay of Obamacare.

    President Obama has made it clear. He will not stand for an one, two or three year delay of Obamacare just to satisfy Ted Cruz and the Tea Party Republicans.

    The GOP are acting exactly like extortionists right now. The party of supposed fiscal conservatism is quite willing to wreck our economy to get what they want.

     
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    Re: Breaking News: House Republicans Voting Tonight to force a Government Shutdown

     

    The best guides to what might happen are the government shutdowns of 1995-1996, said Chad Stone, chief economist of the Center on Budget and Policy Priorities.

    The 1995-1996 government shutdowns, a five-day hiatus in November 1995, followed by a 28-day gap in December and January 1996, did interrupt the strong expansion that was then developing.

    The economy grew at an annual pace of 3.5% in the third quarter of 1995, but dropped to 2.9% in late 1995 and 2.6% in the first quarter of 1996. Once the shutdown ended, growth rebounded to 7.2% in the second quarter of 1996, and the economy grew at a 4% clip in the second half of the year.

    During the crisis, interest rates on 10-year Treasury bonds dropped, and the Standard & Poor's 500-stock index rose 5.5%. Unemployment stayed stable, 5.5% or 5.6% from September through January.

    The impact of a failure to raise the debt ceiling could be much greater, because of the way it would rock credit markets, said Doug Holtz-Eakin, a former head of the Congressional Budget Office.

    It would also force much more sudden spending cuts than a partial shutdown if the Treasury is forced to go from a $600 billion annual deficit to balancing income and payments immediately, Stone said.

    "It's sequestration on steroids, a balanced budget amendment enforced on an hourly basis,'' he said.

                                                                

     
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    Re: Breaking News: House Republicans Voting Tonight to force a Government Shutdown

    In response to andiejen's comment:


    With 2 days until the government runs out of money, House Republicans have made their choice. They’re voting TONIGHT to force a government shutdown unless they get a one-year delay of Obamacare.

    President Obama has made it clear. He will not stand for an one, two or three year delay of Obamacare just to satisfy Ted Cruz and the Tea Party Republicans.

    The GOP are acting exactly like extortionists right now. The party of supposed fiscal conservatism is quite willing to wreck our economy to get what they want.



    Is this your example of Obama working with the republicans?

     
  5. You have chosen to ignore posts from RSF4Life234. Show RSF4Life234's posts

    Re: Breaking News: House Republicans Voting Tonight to force a Government Shutdown

    In response to skeeter20's comment:

    In response to andiejen's comment:

     


    With 2 days until the government runs out of money, House Republicans have made their choice. They’re voting TONIGHT to force a government shutdown unless they get a one-year delay of Obamacare.

    President Obama has made it clear. He will not stand for an one, two or three year delay of Obamacare just to satisfy Ted Cruz and the Tea Party Republicans.

    The GOP are acting exactly like extortionists right now. The party of supposed fiscal conservatism is quite willing to wreck our economy to get what they want.

     



    Is this your example of Obama working with the republicans?

     



    "The full consequences of a default by the United States — or even the serious prospect of a default — by the United States are impossible to predict and awesome to contemplate. Denigration of the full faith and credit of the United States would have substantial effects on the domestic financial markets and the value of the dollar in exchange markets."

    Do you know who the author of this letter was? 

     
  6. You have chosen to ignore posts from andiejen. Show andiejen's posts

    Re: Breaking News: House Republicans Voting Tonight to force a Government Shutdown

    In response to skeeter20's comment:

    In response to andiejen's comment:

     


    With 2 days until the government runs out of money, House Republicans have made their choice. They’re voting TONIGHT to force a government shutdown unless they get a one-year delay of Obamacare.

    President Obama has made it clear. He will not stand for an one, two or three year delay of Obamacare just to satisfy Ted Cruz and the Tea Party Republicans.

    The GOP are acting exactly like extortionists right now. The party of supposed fiscal conservatism is quite willing to wreck our economy to get what they want.

     



    Is this your example of Obama working with the republicans?

     



    skeeter,

    At this point, Obamacare is the law...not a bill. 

    And tonight, the GOP DID pass a bill to shutdown the government if a one year delay of Obamacare is not implemented.

    The GOP does not care if it wrecks our economy if it does not get its way on implementation of this bill.

    Btw, skeeter, for people with health insurance, very few will be affected by Obamacare. Only those who buy their own insurance...about 10-15% of us.

    The vast majority will see no change...except of course those who do not have insurance who will now be able to get health insurance.

     

     

     

     

     
  7. You have chosen to ignore posts from andiejen. Show andiejen's posts

    Re: Breaking News: House Republicans Voting Tonight to force a Government Shutdown

    In response to RSF4Life234's comment:

    In response to skeeter20's comment:

     

    In response to andiejen's comment:

     

     

     


    With 2 days until the government runs out of money, House Republicans have made their choice. They’re voting TONIGHT to force a government shutdown unless they get a one-year delay of Obamacare.

    President Obama has made it clear. He will not stand for an one, two or three year delay of Obamacare just to satisfy Ted Cruz and the Tea Party Republicans.

    The GOP are acting exactly like extortionists right now. The party of supposed fiscal conservatism is quite willing to wreck our economy to get what they want.

     

     



    Is this your example of Obama working with the republicans?

     

     

     



    "The full consequences of a default by the United States — or even the serious prospect of a default — by the United States are impossible to predict and awesome to contemplate. Denigration of the full faith and credit of the United States would have substantial effects on the domestic financial markets and the value of the dollar in exchange markets."

     

    Do you know who the author of this letter was? 



    Ronald Reagan.

     
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