Start in the back where it comes out:
"G-20 finance officials focus on US budget talks" by Martin Crutsinger and Marjorie Olster | Associated Press, October 12, 2013
WASHINGTON — World finance officials said Friday the United States needs to take urgent action to address its budget problems that are creating economic uncertainties for the global economy.
Finance ministers and central bank leaders for the Group of 20 major economies wrapped up two days of discussions in Washington with a joint statement expressing concern about the ongoing budget stalemate between Congress and the Obama administration.
Russian Finance Minister Anton Siluanov told reporters that issues of the partial government shutdown and the need to raise the US borrowing limit before Thursday were addressed by Treasury Secretary Jacob Lew.
Siluanov said all the G-20 participants are hoping for a speedy resolution. He noted that about 45 percent of Russian’s foreign exchange reserves are invested in US Treasury securities. America will run out of borrowing authority for new debt on Thursday.
That probably wasn't a very good investment, huh?
Lew has warned that with only $30 billion expected cash on hand at that time, the country will soon not have the ability to meet all of its bills, including paying interest on the $16.7 trillion federal debt. That would trigger an unprecedented default.
Maybe because of the size, but the government has defaulted many times in the over 200 years it has been around. But whatever.
Underscoring the urgency of the situation, Lew left the G-20 discussions before they had wrapped up Friday to get to the White House for a meeting with President Obama and Senate Republicans.
That's when you start reaching for your wallet and want the brakes applied to anything they suggest.
There have been various proposals in recent days to resolve the impasse and get at least a short-term increase in the borrowing limit approved before next week’s deadline.
Obama has insisted he will not negotiate with Republicans over spending issues until the government is reopened and the borrowing limit is raised.
Siluanov said the G-20 officials did not discuss contingency plans if the US borrowing ceiling is not increased by the Thursday deadline.
He had told reporters the previous evening that US officials had given assurances that the debt ceiling impasse would be resolved before the deadline.
Then this whole thing was nothing more than political theater used to divide and a huge pile of bulls*** print filling up my pages.
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Related:
"Lawmakers were preparing to meet during the holiday weekend. The Dow Jones industrial average rose by more than 100 points Friday following a 323-point jump Thursday as optimism about a debt ceiling deal spread."
Oh, I'm so glad Wall $treet is happy because that is what we all live for. If Wall Street is not happy, we are not happy.
"Rumblings of discontent from district GOP counts on" by Bryan Bender | Globe Staff, October 12, 2013
BELVIDERE, N.J. — Across New Jersey’s Fifth Congressional District — one of the most conservative in the Northeast — interviews with numerous voters show anger over the shutdown and growing dissatisfaction with Tea Party lawmakers.
The backlash is part of a national trend in which the support for the Tea Party movement has waned even among its strongest base: conservative Republicans.
I predicted the agenda-pushing media would tell you this was the case with their rigged and made-up polls. I just no longer believe any number they put out and have my own formula for gauging true public opinion. Sorry.
A Gallup poll in late September showed that Republican support for the Tea Party had dropped from 65 percent to 38 percent since the height of the movement in November 2010. Among independent voters, support dropped from 30 percent to 25 percent over the same period.
Democrats’ largely dim view of the Tea Party movement has remained fairly constant, according to Gallup.
The trends may help explain why House Republican leaders have begun downplaying their demands to defund what they call “Obamacare’’ and have begun seeking a compromise on raising the debt ceiling....
Meaning it was all a political s***-fooley with so much print as the two parties serve the war and banking agenda all along.
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All I can say to this guy is sit down and shut up because that is what he did after his filibuster in the Senate.
"Under the framework Collins helped develop, the government would be reopened and funded for six months. The debt limit, set to expire Oct. 17, would be extended until Jan. 31. In exchange, Democrats would agree to delay for two years a 2.3 percent tax on medical devices that helps fund Obama’s health care law."
Ah, yes, the middle path emerges.
Also see: N.Y., Ariz. to reopen US parks
Smoke 'em if you got 'em.
Look who got floated a check:
"Andover, Sudbury sites will work on Navy radars; Work to be done in Andover, Sudbury" by Michael B. Farrell | Globe Staff, October 11, 2013
The federal government may be partially closed, but the people who sign off on massive Pentagon contracts are still working.
Waltham military hardware maker Raytheon Co. said Friday that it inked a deal with the US military worth as much as $1.6 billion to build advanced radar systems for a new class of Navy destroyer.
The award is a victory for Raytheon over rivals Lockheed Martin Corp. and Northrop Grumman Corp., two of the other major makers of sophisticated radar systems that were vying for the contract. It’s also critical at a time of overall defense spending cuts that have taken a toll on military contractors.
Yeah, the poor military industrial complex says the military mouthpiece of a corporate pre$$.
“Raytheon has once again secured business in a new area at a time when rivals are seeing their revenues decline,” said Loren Thompson, a defense analyst with the Lexington Institute in Washington. “It’s nearly impossible to grow market share in a defense downturn, and Raytheon is managing to do it.”
In July, Raytheon won a highly competitive $270 million contract with the Navy to build electronic jamming systems for fighter jets, a deal that could eventually be worth billions of dollars, said Thompson.
The most recent agreement with the Navy is to develop, test, and deliver next-generation air and missile defense radars for the Navy’s Flight III Arleigh Burke destroyers. The radars will be designed to more accurately detect long-range missiles and other incoming threats, and are expected to be ordered in 2019.
Raytheon’s systems are being designed to outfit at least 22 naval ships, half of which are being built at General Dynamics Corp.’s Bath Iron Works in Bath, Maine.
Work on the radar systems will be conducted at Raytheon’s facilities in Andover and Sudbury. While the company would not say whether the contract will immediately result in new jobs, defense analyst Thompson expects Raytheon to hire hundreds of workers to complete the project. Raytheon has a global workforce of about 68,000 and is one of Massachusetts’ biggest employees.
They mean employers, but....
The contract with the Navy was not a casualty of the government shutdown since the initial money for it was appropriated prior to the closure. The base contract value is $385 million, but it includes options that could increase the value to $1.6 billion.
The radar is one of the most expensive and advanced such systems the Navy has ever ordered, said Chris Johnson, spokesman for Naval Sea Systems Command.
No expen$e $pared there, but they cut off food stamps and park access!
And as for the government workers responsible for the final sign-off on the deal, he said, they aren’t on the list of furloughed workers.
They are all back to work now, which is why I guess I'm so sour on it all, folks.
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Looks like they fenced in some more profit, 'eh!?
