They are at it again. Standing on the opposite in of the same track, those Washington politicians who we affectionately call Congress are racing against the clock to raise the nation’s debt ceiling.
As the critical Aug. 2 deadline approaches, the two parties continue to fight over ways to reduce the deficit.
President Obama held five straight days of meetings with congressional leaders at the White House, but none of the three options he proposed (deficit cuts of $4 trillion, $2 trillion or $1.5 trillion over 10 years) enticed the two sides to go in the same direction and increase the debt ceiling by the $2.4 trillion.
What is all this fuss about? Is it politics as usual, or will be something here to cry about if they miss the Deadline on raising the debt ceiling?
Ron McClain, a Maryland Certified Public Account (“CPA”) sat down with Febone1960.net and shared his thorough knowledge of the Debt Ceiling and Consequences in failing to meet the August 2 deadline.
The interview is broken down in a two part series Day one can be heard by clicking the video player above.
Day 2 will be posted tomorrow. If you have any questions on comments, please feel free to let us hear from you.
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