Friday, July 15, 2011

Obama sounds (relatively) upbeat on network news conference on debt extension impasse

President Obama held a news conference on major networks at 11 AM EDT Friday morning on the debt extension crisis, which I have covered in detail on my “issues” and “retires” blogs. 

The president’s tone was optimistic, and sounded reasonable. He did sound like he was trying to get the GOP hardliners to become more specific as to exactly what cuts they wanted.

One development that has surfaced today is that “Tea Party” Republicans have promised constituents that they would not vote to raise the debt ceiling under any circumstances.

However, if the receipts of the federal government after Aug 2 are 40% short of the bills that come due, there simply is no way to avoid a catastrophe. It is irresponsible for any politician to make such promises.

Picture: Yale, not Harvard.  But I'll get to Barack's and Mark's stomping grounds in due course. 

No comments: