They deserve the month long break, the rigors of public office, making themselves feel self-important on national television, giving Obama another $2T+ to spend, just weakened them all to the point of exhaustion.
With GDP, employment, industrial production and real personal income all well below pre-recession peaks, Congress begins its August break early, with no votes until September.
Left hanging: several jobs bills; re-funding the Federal Aviation Administration; trade agreements with South Korea, Panama and Colombia.
Only the media and the fear mongers were focused on an actual insolvency. The real story here was always the impact of the debt ceiling outcome on the real economy......and the market’s message has been loud and clear.
The debt ceiling deal averted a U.S. technical default, but we have made things worse rather than better in terms of placing the country on a growth path.
http://online.wsj.com/video/el-erian-us-outlook-darkens/85F75B51-F954-46E1-861D-EC47CC278296.html?mod=markets_video_newsreel
More than $1T would have been saved by just ending the Bush tax cuts!
PS
Just out, in April, 45.8 million people (all time record) living on food stamps
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