maybe you've been hearing about this debt ceiling crisis that's been gummin' up the works in DC. i don't really feel like explaining it (read a newspaper), but basically we've got to pass a bill to prevent the US from defaulting on its debt, an occurrence that most economists agree would have catastrophic effects on the american and world economies.
as happens with pretty much every issue in washington these days, this bill is being held up by a reluctance of both parties to compromise. on friday, before heading off to camp david for the weekend, obama sat down with boehner and they hammered out a deal where both sides gave a little. the republicans would relent on their refusal to allow any tax increases whatsoever, and the democrats would let them put their filthy pawz all over our social security and medicare.
now, both constituencies were p'd-o when they heard what their leaders had offered up, but only one party leader reneged on the deal within 24 hours when his party threw a temper tantrum. i'll let you guess which.
obama's giving a p-conf aaannnny minute:
11 July 2011
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