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Limbaugh To G0P Congress: Make Obama "Cave" On Debt Talks, Or You'll Be In "Big Trouble" For Re-Election. Why?
9 Answers
- ☼Solar☼Lv 710 years agoFavorite Answer
Meanwhile this will occur should the GOP and Democrats fail to increase the Debt Ceiling
Ordinarily, the government would sell new bonds to pay off the old ones. But in these circumstances, finding buyers might not be that easy. Treasury bonds would have lost their key selling point: a rock-solid reputation for safety.
"They're the Volvos of investment," says Jim Kessler of the Washington think tank Third Way. "To get people back into Treasury bonds, you're going to have to give them some sort of deal. And that deal is bad for taxpayers. It's bad for the economy."
To attract new buyers, the government would have to pay higher interest rates. And those higher rates would ricochet throughout the economy.
"That will affect credit card interest rates, mortgage interest rates. Every kind of consumer debt and business debt is priced off of Treasuries," says Powell. "That's not going to help the economy; it's going to hurt the economy. It's going to hurt the housing market."
The stock market would drop and so would the value of the dollar, resulting in higher gasoline prices.
- ?Lv 45 years ago
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- ForkLv 510 years ago
We are really tired of limp-wristed cowardly Republicans who are afraid of offending someone. We NEED a strong willed uber conservative to bring America back from the brink of ruin that Obama has brought us to.
Source(s): Progressives care more about the "feelings" of Al Qaeda members than the well being of U.S. citizens. - 10 years ago
The American people rejected left-wing spending.
See 2010 election results
(laughs)
VOTE GOP in 2012
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- KevinLv 610 years ago
Citizens to Democrats in Congress: Do not cave to Republicans and watch as the economy will fall when both sides do not come to an agreement.
- Anonymous10 years ago
If the Republicans in Congress fall in line with the Democrats, then they are not doing what they were sent to do. Screw Limbaugh, the electorate has spoken.
- ?Lv 410 years ago
Because that was the clear message they were sent there with in 2010. Try to keep up.
- ?Lv 510 years ago
Because we'll vote out any Republican who gives in to Obama and doesn't get SERIOUS spending cuts.