Monday, April 11, 2011
Debt Ceiling battle in May will make the shutdown threat look like "kids' stuff" (as in "Social Network")
With the brawl over “shutting down the government” now made to look like child’s play, the next battle will be extending the debt ceiling.
And Speaker Boehner has told the president, no, the ceiling won’t be raised without other big cuts. Compassion make be reduced by fear, but not sacrifice.
MSNBC has the basic story here (by John Schoen).
Like the weather before severe storms, bond prices may slip and interest rates may slip up as the idea that a default is even thinkable by mid May circulates.
Here’s the Gospel according to ABC.