It was the National lead:
"In staged vote, House rejects new debt limit; GOP offers plan and calls for its failure" by Jackie Calmes, New York Times / June 1, 2011
WASHINGTON — Republicans brought up the measure and then urged its defeat, while Democrats — who not long ago were seeking just such a vote to raise the debt ceiling without attaching spending cuts — assailed Republicans for bringing it up, saying its certain defeat might unnerve the financial markets.
Just in case, Republican leaders scheduled the vote for after the stock market’s close and, in the preceding days, called Wall Street executives to assure them that the vote was just for show....
The showdown over the issue is likely to continue well into the summer, with consequences for both parties and, potentially, for the economy and Wall Street, where the bond market in particular is watching the standoff closely. Yet for all the talk of crisis should Congress fail to raise the debt ceiling by Aug. 2, when the Treasury Department says it will run out of room to meet all the government’s obligations without further borrowing, the financial markets are likely to yawn at yesterday’s proceedings.
Or not: Dow Jones
Down almost 300, huh?
“Wall Street is in on the joke,’’ said R. Bruce Josten, executive vice president of the US Chamber of Commerce....
Do you see me laughing here?
Investors have grown accustomed to partisan games of chicken that always end with the needed increase in the government’s borrowing authority. But this showdown, many say, is riskier because of the strongly held antispending, antitax views of the many freshman House Republicans combined with the fragility of the economic recovery....
More numerous than the insurgents elected in the conservative waves of 1980 and 1994, many freshman Republicans have no experience in public office and consider themselves citizen-legislators who entered government to shrink it, regardless of the political costs....
Paper definitely has a point of view, although they are killing troops by keeping the wars going.
Many Republicans have also made comments indicating that they do not understand or do not care that an increase in the debt limit is needed not only for new spending but also to cover Social Security checks, military pay, and myriad other agreed-to purposes.
For Republicans and Democrats to agree this summer on a far-reaching deficit-reduction plan is a hurdle that is all the higher given how far apart the parties are....
But they are all together on bailouts for Wall Street, war spending, and cutting checks for Israel.
--more--"
More "jokes" at which I'm not laughing at:
Ex-energy company CEO picked for commerce post
An industry guy, not an environment guy? The revolving door continues to spin.
Boston-area home prices off 2.7% in a year
Luxe condo rentals find eager market
Consumer confidence at 6-month low
"Oil prices may climb further soon.
That is not what the headline of the article implies, ha-ha.
The world is consuming more oil than ever, and the thirst for oil in China and other emerging economies will mean growing demand, analysts say. Investment banks like Goldman Sachs are betting that global supplies can only grow tighter in coming months, and that will push oil prices higher....
Then I would damn near count on it.
--more--"
Yeah, right, lower prices coming.
The Globe shoving a gas pump up your ass is far from funny.
Update: Yastrow: “We Are on the Verge of a Great, Great Depression”
