Warren Buffett Tells Congress To Raise Taxes On Wealthy – Source: ABC News

Warren Buffett, one of the richest men in the country, wants to pay more taxes and thinks his super-rich friends should too.

Buffett, who is estimated to be worth more than $47 billion, called on Congress to commit to "shared sacrifice" and raise taxes on people earning more than $1 million. Buffett said the rich are "coddled" by Congress "as if we were spotted owls or some other endangered species." (Read more)

Debt Rating – A Triple Plus vs A Double Plus Don’t Sound That Bad To Me

A Triple Plus rating vs A Double Plus do not sound that bad to me however I don’t know what the significance is as it relates to the debt rating other than they saying they have a problem with the US paying their debt.

But in a sense to me just looking at it as a grading average I just can’t see what the fuss. Well I think I get it that it is all about President Barack Obama being a black man whom just happens to be all of our President whether we like it or not.

It appears some folks will sink the damn boat and don’t care who survives. But I believe all that they continue to do to attempt to discredit our President that they are showing just how ignant they are.

I hope to hear more about the significant difference in the rating. If someone has some information on it please share it with me.

I believe folks are misleading people and trying to scare the hell out of them when it ain’t a big deal in my opinion.

I am Curmilus Dancy II – The Professional Agitator.

“I have no permanent friends, no permanent enemies only permanent interest.”

Tea Partying Like It’s 1954–Source: truthout

The power of the Tea Partiers, who refused to raise the US government’s debt ceiling this past week despite the pleading of Republican pundits and the powerful, echoes the 1950s when Sen. Joe McCarthy, Fighting Joe, went after those who thought themselves his masters. (Read more)

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Business Unusual – Source: brotherpeacemaker

Debt Limit

Business Unusual – Source: brotherpeacemaker

Late Friday afternoon, Standard & Poor’s downgraded the debt rating of the United States from the absolute top rating of AAA to the next highest rating of AA+.  It’s not like we didn’t know it was coming.  One of the issues that we were facing as a country about to default on its debt for the first time in history was the possibility that our debt rating would be lowered and we would face consequences.  Instead of heeding that warning, our political leaders fought tooth and nail to the wire about how we were going to raise the debt ceiling.  We could have preserved our credit rating. (Read more)

Debt Ceiling Deal That Cuts Trillions, Creates ‘Super Congress’ Announced By Party Leaders – Source: Huffposts Politics

WASHINGTON — Congressional leaders and President Obama on Sunday night announced they’ve cut a deal to avert a historic U.S. default, saying they have assembled a framework that cuts some spending immediately and uses a "super Congress" to slash more in the future. (Read more)

Keith Olbermann’s Special Comment on Tragic Debt Deal – Source: AlterNet

President Obama’s greatest vulnerability in this tragic debt deal is not that he might appear to have failed, or appear to have abandoned the principles demanded of any humane president (let alone of a Democrat). His true risk is that he and the form of government he heads have suddenly begun to appear utterly, irredeemably, irrelevant. (Read more)

President Obama on the Debt Agreement

Monday, August 1, 2011

Yesterday evening the President spoke in support of a bipartisan deal to reduce the nation’s deficit and avoid default. This deal will extend the debt limit until 2013, ensuring stability and economic confidence, and it puts in place a framework for balanced long term fiscal discipline. The bipartisan compromise assures that the United States meets its obligations, providing monthly Social Security checks and veterans’ benefits, and fulfilling contracts with thousands of American businesses.

Watch the video of the President’s remarks, and read the fact sheet for a comprehensive breakdown of the new plan.

Have questions about the deal? White House advisors are taking time this week to answer your questions as part of White House Office Hours. Use the hashtag #whchat to ask your questions, and Brian Deese and Jason Furman of the National Economic Council will answer a selection of them directly. Check out this week’s schedule below, and follow @WhiteHouse for more updates.

• Monday, August 1
  5:00 p.m. EDT: Office Hours with Brian Deese, Deputy Director of the National Economic Council
• Tuesday, August 2
  4:00 p.m. EDT: Office Hours with Jason Furman, Principal Deputy Director of the National Economic Council
• Wednesday, August 3
  4:00 p.m. EDT: Office Hours with Brian Deese, Deputy Director of the National Economic Council

We’ve already answered dozens of questions from fellow Americans, and we look forward to hearing from you. For more information about Office Hours, including a wrap-up from last week, click here.

Follow us on Twitter for the latest updates: @WhiteHouse.

Obama & Congress reach debt ceiling deal: The deals highlights – Source: African American Reports

Okay all this is a breaking story and it’s moving quickly.Keep in mind that the deal still requires congressional approval. Here are some highlights of what is included in the Obama / Congress debt ceiling deal: (Read more)

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Debt limit

FED UP: Just Do The 14th Amendment Thing Already, Democrats Beg Obama – Source: TPM

It’s getting late on Capitol Hill this Saturday evening. And it’s only going to get later — the Senate vote on Majority Leader Harry Reid’s plan to raise the debt limit is coming after midnight, meaning members of Congress are cooling their heels and getting frustrated. (Read more)

House rejects Senate Dems’ debt-limit bill – Source: News & Observer

WASHINGTON — The Republican-led House has rejected a Senate Democratic bill that would slash spending and avert a federal government default.

The vote was 246-173. It was a pre-emptive vote in the high-stakes political fight as the Senate still hasn’t voted on the measure from Senate Majority Leader Harry Reid. The measure would raise the debt limit by $2.4 trillion while cutting spending by $2.2 trillion. (Read more)