Mission Accomplished!

[Ian David]

Boehner: I got ’98 percent’ of what I wanted in debt deal

House Speaker John Boehner (R-Ohio) said he got "98 percent" of what he wanted in the final deal to raise the debt ceiling.

"When you look at this final agreement that we came to with the White House, I got 98 percent of what I wanted. I'm pretty happy," Boehner said in an interview with CBS News on Monday evening.

More:
http://thehill.com/blogs/blog-briefing-room/news/174925-boehner-i-got-98-percent-of-what-i-wanted-in-debt-deal


Tea Party Gets Its Way; Dow Drops Like a Rock

<snip>

It's almost like there's some sort of relationship here. The Tea Party holds America hostage until it extracts dangerous spending cuts as ransom, and the markets react by dropping — hard— for nine out of ten days.

<snip>

In early to mid July, it appeared that President Obama had the upper hand in the debt ceiling deal. Republican Senate Leader McConnell indicated a willingness to get a deal done and let the President sort out the specifics, including proposing a bill that would give the President the authority to just raise the debt ceiling as needed.

At the same time, the market went on a three day, 300 point rally, culminating in a high of 12,724 on July 21.

Then, the Gang of Six senators announces its plan, which would raise the debt ceiling, deal a little with the deficit, and essentially provide political cover for both Democrats and Republicans. It would have ended the crisis and saved the day. Republican Tea Baggers in the House said no and walked away from the table. John Boehner stopped returning the President's phone calls, an incredible breach of etiquette, and more importantly, prolonging the crisis.

More:
http://www.benzinga.com/news/11/08/1834428/tea-party-gets-its-way-dow-drops-like-a-rock


-512. Going DOWn!

<snip>

As @allanbrocka tweeted:
As markets crash and the pink slips fly, remember John Boehner got 98% of what he wanted.

David Shuster:
4 months of deficit talks instead of doing anything about jobs/anemic economy. Market view is clear. WH/Congress, take note.

@CNNValencia:
BREAKING- Stocks suffer the worst sell-off since the 2008 financial crisis.

And who was in charge in 2008? That’s right. Not Obama.

More:
http://thepoliticalcarnival.net/2011/08/04/512-going-down/



Dow Drops More Than 500 Points
http://www.wgrz.com/news/article/129896/1/Dow-Drops-More-Than-500-Points

Dow drops more than 500 points, erasing 2011 gains
http://www.mydesert.com/article/20110804/BUSINESS/110804003/Dow-drops-513-points-erasing-2011-gains

See prior threads:

Stock markets have terrible day; Dow drops 500 points
Topic started by Kennah on Aug-04-11 04:06 PM (4 replies)
Last modified by OHdem10 on Aug-04-11 04:32 PM
http://www.democraticunderground.com/discuss/duboard.php?az=show_topic&forum=102&topic_id=4947697

Dow plunges 350 points on fears about global economy
Topic started by Kennah on Aug-04-11 12:41 PM (18 replies)
Last modified by okieinpain on Aug-04-11 04:02 PM
http://www.democraticunderground.com/discuss/duboard.php?az=show_topic&forum=102&topic_id=4947303

U.S. stocks fall hard as economy weighs
Topic started by onehandle on Aug-04-11 11:49 AM (16 replies)
Last modified by fasttense on Aug-04-11 01:35 PM
http://www.democraticunderground.com/discuss/duboard.php?az=show_topic&forum=102&topic_id=4947215

Relief Rally Disappears After Fresh Economic Data
Topic started by alp227 on Aug-01-11 04:19 PM (5 replies)
Last modified by Po_d Mainiac on Aug-01-11 09:00 PM
http://www.democraticunderground.com/discuss/duboard.php?az=show_topic&forum=102&topic_id=4943920

Stocks pricing in a new recession
Topic started by villager on Aug-04-11 12:30 PM (4 replies)
Last modified by obxhead on Aug-04-11 02:50 PM
http://www.democraticunderground.com/discuss/duboard.php?az=show_topic&forum=103&topic_id=618487

What's behind stocks' slide?
Topic started by xchrom on Aug-04-11 06:55 AM (4 replies)
Last modified by Fuddnik on Aug-04-11 02:25 PM
http://www.democraticunderground.com/discuss/duboard.php?az=show_topic&forum=103&topic_id=618416

Guardian UK: Are we heading for a second global financial crisis?
Topic started by marmar on Aug-03-11 01:00 PM (9 replies)
Last modified by Doctor_J on Aug-03-11 03:38 PM
http://www.democraticunderground.com/discuss/duboard.php?az=show_topic&forum=103&topic_id=618211

The reason the markets are diving By Ezra Klein
Topic started by sasha031 on Aug-04-11 04:26 PM (2 replies)
Last modified by gkhouston on Aug-04-11 04:33 PM
http://www.democraticunderground.com/discuss/duboard.php?az=show_topic&forum=439&topic_id=1663798

Fear And Trembling On Wall Street- DOW Closes Down Over Five Hundred Points
Topic started by DemocratSinceBirth on Aug-04-11 04:00 PM (10 replies)
Last modified by RegieRocker on Aug-04-11 04:17 PM
http://www.democraticunderground.com/discuss/duboard.php?az=show_topic&forum=439&topic_id=1663485

Dow Jones at -511 nt
Topic started by napoleon_in_rags on Aug-04-11 03:53 PM (18 replies)
Last modified by Broderick on Aug-04-11 04:10 PM
http://www.democraticunderground.com/discuss/duboard.php?az=show_topic&forum=439&topic_id=1663414


"Buying nice, expensive things is back in vogue..."
Topic started by Zenlitened on Aug-04-11 12:04 AM (26 replies)
Last modified by hifiguy on Aug-04-11 02:54 PM
http://www.democraticunderground.com/discuss/duboard.php?az=show_topic&forum=439&topic_id=1658945

[TheBigotBasher]

1. Same cost to the US and world economy as well,

he looks somewhat off, possibly down to no whisky glass.

[MrTriumph]

2. Are you saying Biden will be elected Pres. in 2012? Well, it might be an improvement.

However, I'd prefer Senator Kerry.

[Ian David]

3. Conservative Republican Rep. Lankford Admits The Economy Is ‘Doomed’ Without Government Spending

Conservative Republican Rep. Lankford Admits The Economy Is ‘Doomed’ Without Government Spending

One of the tenets of right-wing rhetoric in the United States is to reject the idea that the government should spend money in a down economy to kickstart growth and create jobs. But during an appearance on Dylan Ratigan’s MSNBC show last week, conservative Republican Rep. James Lankford (OK) appeared to deviate from this ideology.

Lankford informed Ratigan of a list of things he believes grow the economy, and one of the elements for growth he listed was government spending, even going as far as to say that if “we’re hammered” in that area — meaning we don’t have enough government spending — we’re “doomed”:

LANKFORD: An economy grows based on its own consumption, based on investment, based on government spending, and based on trade. And if we’re hammered on all of those, we’re doomed.


More:
http://thinkprogress.org/economy/2011/08/04/287905/james-lankford-government-spending/