Will a debt ceiling deal be reached by August 2nd

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The real deadline was over a month ago, but treasurer Geithner said he is able to move money around to extend the deadline by August 2nd.

I'm not entirely sure whether a deal will be reached or not. But this is only a foreshadow of what the future holds.

Letting Washington even partially default is a terrible idea - unless you ask the people who's like the fact that Tim Geithner would be controlling who gets paid and who doesn't. Even the McConnell-Reid proposal would be a better outcome.

That said though - I think the fallback plan will likely be taken unless someone can jump on stage with something considerably more potent to both sides.

Assuming that the President's birth certificate is correct, he will be having a birthday party on August 4.

So, of course, everything will be wrapped up by then.

Our members of Congress also want to go on their summer vacations.

this is just a dog and pony show, they'll reach a "deal".

Not passing a debt ceiling would be a good thing. Don't believe the scare tactics.

The fact Obama is threatening to withhold social security checks is sickening, how about ending those wars Barry? How about stop paying off your big corporate buddies? No, poor little grandma has to take the hit.

The boys are playing Chicken.

ruveyn

I don't blame the Republicans for playing chicken. Obama caves every time.

Maybe not this time. Zillions of American elderly are scared sh*tless about their social security and medicare.;

ruveyn

I agree with some of the sentiments of the above posts.

But we may solve this issue for august but this will keep resurfacing until a long term solution is put in place.

Obama is likely to be the to cave on this debt issue as the buck ultimately rests on him.

But the trite opinion of "can both parties just grow up and reach. A deal.

It's not that easy. There are fundamental differences which needs to be discussed and worked out at length

Its pretty easy to sum those sides up though: one firmly believes that a country taking out significantly more debt than it can pay off is clearly a bad thing, the other has no concept of this whatsoever and is fighting for their right to ignore basic economic physics.