A ONE HOUR MEETING TODAY IN THE WHITE HOUSE !!!!!!

"SOMETHING BIG" ~ This is Interesting ~ One Hour Meeting .. Obama and lawmakers aim for "big" things in debt talks ...
July 07, 2011

Obama and lawmakers aim for "big" things in debt talks

Washington, After weeks of impasse, President Barack Obama and top congressional leaders are aiming for "something big" as they resume budget talks on Thursday to avert an imminent default.

With Republicans showing new flexibility on taxes, Democrats say Obama will push negotiators to double their target to $4 trillion in budget savings over 10 years.

That would be an ambitious goal, but there have been a few hints of progress since talks hit a brick wall two weeks ago.

The meeting, which takes place at the White House, is due to start at 11 a.m. EDT and last about an hour.

Negotiators are trying to craft a deal that would allow lawmakers to say they are taking steps to keep the national debt under control even as they sign off on further borrowing.

Failure to raise the $14.3 trillion debt ceiling by August 2 could force the country to default on debt service and other obligations, a move that could push the country back into recession and send shock waves through financial markets across the globe.

A small team of Treasury officials are discussing options to stave off default if Congress fails to raise the debt limit by the August 2 deadline, sources familiar with the matter told Reuters.

Senior officials, including Treasury Secretary Timothy Geithner, have repeatedly said there are no contingency plans if lawmakers do not give the U.S. government the authority to borrow more money.

But the sources said the Treasury was looking at a number of options, including whether the administration can delay payments to try and manage cash flows after August 2.

We need a $4+ Trillion reduction in spending over ONE year, NOT ten years.

Make sure to write your leaders in Congress and let them know we will be following how they cut the deficit as well as steward the Dinars the USA holds. It should all go to pay off our debt and not go toward the over inflated budget!

GreyWolfe

You are so right, TheBeav. If only more Americans understood this charade! Not only will the taxes from our investment enrich their coffers, but the U.S. Government holdings in the Iraqi Dinar will be more than enough to pay off ALL the debts of the government, but all future commitments in Social Security and Medicare for several decades -- that is, just until the NEXT planned RI/RV comes into play from Libya!

And, ALL THE SENATORS AND CONGRESSMEN KNOW THIS!!! :queen:

First, the default will never happen. If it would, there would be a Worldwide call for an immediate impeachment of Barack Obama as the first President to lead his country into a default. He has not allowed the Democrats and the Republicans to barter this out. He has had to be the negotiator for the democrats which has never been seen before in History. Why would he do this? What is his agenda?

I predict that if they cannot reach common ground by Thursday that he will sign an executive order for a rise in the debt ceiling and then argue it out in court with the Legislature later. If he doesn't, then he has intentionally let this go in default and should be impeached.

With trillions of dollars coming that he knows about, there would be no reason to take such a hard stand.

We will have to wait and see what happens!!!

GOD BLESS THE USA

MR OBAMA I THINK IS TRYING TO RUIN THIS COUNTRY SINGLE HANDED ,AND HE JUST MIGHT DO IT ,THERE IS NO REASON FOR THIS ,IF THIS DOESNT GO THRU ,WE WOULD HAVE TO PAY HIGHER INTREST RATES ON MORTG AND CARS ETC,NOW IF I HAVE GOOD CREDIT WHY SHOULD I HAVE TO PAY ,JUST NOT FAIR ,WE NEED A NEW LEADER ,IMO,