The Republicans in the House of Representatives have still refused to allow the US debt ceiling to be raised. If it is not raised the US would default on its 14.3 trillion dollar debt, potentially causing:
-the US credit rating to fall
-distrust, no one would loan the US funds
-the US GDP could drop by 10% instantly and could cause another worldwide recession
-a government shut down
-all (though not much exists already) infrustructure programs would cease
-this includes stop signs, crumbling bridges, roads and any state operated building
-persons on social security, disability or in the military would not receive any cheques
-the elderly on Medicare and pensions would not receive any cheques or healthcare
-paycheques for educators, police officers, firemen an state workers may stop
The four main Republicans that are causing this to come so close to the wire have, between the four of them, raised the debt ceiling 19 times. This includes 9 times during the Bush administration alone. What has been a routine for many presidents has become a feice battle because the far right will oppose anything Obama attempts to do; which includes avoiding a catastophic event. So far Republicans have opposed anything Obama has put his name on. This includes many bills, like cap-and-trade, that the Republicans put forward to begin with. The childish actions of the party are becoming embarrassing but Obama is beginning to put his foot down with stronger language than ever before. Hopefully the self declared "adults" of the Republican party can actually do something instead of dragging their feet and tanking the US economy to cause discontent among American presidential voters.
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