Business getting tired of ceiling games

[ugonow]

"Nearly 500 of the country’s top business leaders, including the chief executives of Alcoa Inc., Bayer Corp., Caterpillar Inc,. Citigroup Inc., Cisco Systems, Inc., DuPont, International Paper Co., Koch Enterprises Inc., and Procter & Gamble Co., urged the White House and congressional leaders to reach a compromise that raises the debt ceiling and tackles the country’s deficit problems to avoid a financial crisis.


“Treasury securities influence the cost of financing not just for companies but more importantly for mortgages, auto loans, credit cards and student debt,” 470 business leaders wrote in a letter. “A default would risk both disarray in those markets and a host of unintended consequences. The debt ceiling trigger does offer a needed catalyst for serious negotiations on budget discipline but avoiding even a technical default is essential. This is a risk our country must not take.”

White House Chief of Staff Bill Daley on Sunday called on business groups to become more vocal in pushing Congress to reach a deal that would raise the $14.29 trillion debt ceiling by Aug. 2, when Treasury Department officials believe the U.S. could begin defaulting on its debt if actions aren’t taken.

“Now is the time for our political leaders to put aside partisan differences and act in the nation’s best interests,” the letter said. “We believe that our nation’s economic future is reliant upon their actions and urge them to reach an agreement. It is time to pull together rather than pull apart.”

Update: This post was updated to reflect that 470 business leaders signed the letter, up from 300 as earlier reported."

blogs.wsj.com/washwire/2011/07/12/300-business-leaders-urge-congress-white-house-to-act-on-debt/

[privateinvestor]

Business getting tired of ceiling games


So is Wall St and Main St as well as you may know.. All the liberal congress members on MSNBC are blaming Boehner and McConnell and all the conservative members of congress on Fox are blaming the dems and Obama....what a complete farce this is....even little Timmy Geithner is about ready to throw in the towel and quit...

[Driftr]

Timmah!

I dare him to quit. I double dog dare him.

[verrip1]

White House Chief of Staff Bill Daley on Sunday called on business groups to become more vocal in pushing Congress to reach a deal Congressional Republicans to give in to tax increases that would raise the $14.29 trillion debt ceiling by Aug. 2, when Treasury Department officials believe the U.S. could begin defaulting on its debt if actions aren’t taken.

Fixed it for you.

[ugonow]

I don't know,verrip, that sounds pretty partisan to me. New rules.This is a fair and balanced board. Kind of like Fox.

[verrip1]

Of course, ugo. And there are no posters here that are liberal, just a few slightly to the left of center.

[djAdvocate]

Jul 12, 2011 18:53:38 GMT -5 verrip1 said:

Of course, ugo. And there are no posters here that are liberal, just a few slightly to the left of center.

i am starting to wonder why i hated you.

[handyman2]

There are quite a few that are just plain off plumb-(crazy). Present company excepted of course.