"As former treasury secretary Timothy Geithner explained during the last debt-limit standoff, the effects of default would be “catastrophic,” resulting in the “loss of millions of American jobs,” and would have an economic impact “potentially much more harmful than the effects of the financial crisis of 2008 and 2009.” Obama will not permit an economic crisis worse than 2008-09 and the “loss of millions of American jobs” on his watch. He has no choice but to negotiate with GOP leaders and cut a deal to avoid a government default. So what’s the smart move here, Republicans? Simple: Pass a clean, short-term continuing resolution to keep the government operating at current levels and then attach your demands to legislation raising the debt limit. "
Posted on: Sat, 05 Oct 2013 20:13:50 +0000
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