The blog article More Debt Talks... No Decision by Ashley Sorvillo on how there's no progress on the debt talks with the deadline nearing is similar to my own argument in many ways.
Ashley Sorvillo's article provided me with some interesting information on how the debt talks are going as of late. The posting made by Ashley Sorvillo discuses on how with the debt talks stalling and time running out. President Obama would be able to raise the nations debt limit without the consent of Congress. This is some intriguing news to me and it concerns me a great deal as it does to Ashley Sorvillo.
Ashley Sorvillo's in her article says that for President Obama to be able to raise our national debt ceiling he would need to just submit a proposal of suggested cuts. Though that may lead to a plan later on the future it doesn't help with the situation we face now because like Ashley Sorvillo discussed we wouldn't know where the money will be coming from. The money may be coming from new taxes or cuts to federal programs we don't know; it may be just the government printing more money which would lead to a lower exchange rate between the other major currencies in the world.
Ashley Sorvillo suggests that this is just a delay tactic because we're running out of time now and both parties see no compromise in sight. I agree that it's true that its a delay tactic but a necessary one at that because if we fail to do a least something about our debt limit then we're going to be in worst trouble than we're in now.
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