The TeaBaggers/GOP got 98% of their Debt Ceiling Demands, The DJIA drops and GLD hits new highs.

The TeaBaggers/GOP got 98% of their Debt Ceiling Demands,
The DJIA drops and GLD hits new highs.

Sean Lewis
August 03.2011

Why are the Markets reacting negatively to the 'deal'
America was blackmailed to support by the GOP?
Because it once again kicks the Can down the road
and does not solve the real problem. The Debt is still
growing!

A truly comprehensive approach would be a combined
three part approach.

Cut Spending so the Budget is balanced in 5 years.
Reinstate Pay/Go to cap additional spending.
Increase Federal Revenues.

The GOP demanded only ONE of these things occurred
and it was NOT a true cut in actual Deficit, just a reduction
of Deficit growth!

This is what the Country came to the brink of economic collapse for!

A political showdown with no real consequential remedy to a problem that WILL bring about REAL economic collapse.

The Markets which look at bottom line analysis, give this plan a strong thumbs down!

The Bottom line: The Debt will still be over 10 trillion ten years from now! It will still be over 11 Trillion dollars!

The budget office affirmed what Obama and congressional leaders in both parties have been saying since the deal was struck last night: There would be upfront savings of $917 billion from 2012 to 2021 -- the same amount as contained in a plan by House Speaker John Boehner.

The independent budget analysts say deficits would be reduced by an additional $1.2 trillion over the 10-year period, contingent upon the work done by a new, special committee of Congress or the automatic spending cuts that would take effect if the committee couldn't get its recommendations passed by Congress.

This was NO SOLUTION!

The Country was held hostage so the rich would stay rich, because the GOP/TeaBaggers put Party before Country once again!