[From article]
"Here's a quick rundown of what we know, or think we know, is going on in Washington this week: Democrats and Republicans have yet to reach a deal to raise the nation's $14.3 trillion debt limit.
[. . .]
Tim Geithner already used trick accounting a couple of months ago when he started borrowing from government workers' pension funds.
[. . .]
First, nothing that's being done in Washington right now will help the economy grow.
[. . .]
the ultimate result will be an economy growing slower than it currently is and more people unemployed.
[. . .]
If there is no agreement soon or Washington looks incompetent (a line that we've probably already passed) interest rates will likely rise, maybe swiftly, and stock prices are going to fall. Those are the market realities.
http://www.nypost.com/p/news/business/debt_limit_debate_congress_has_lost_Eclq0srgYJHRPVZozQH34O
Debt-limit debate: Congress has lost its mind!
John Crudele
New York Post
Last Updated: 3:30 AM, July 28, 2011
Posted: 11:26 PM, July 25, 2011
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