Daily Archives: June 23, 2011

Debt ceiling talks break down

A wheelbarrow of money to buy a loaf of bread. This is what Obama, with his fiscal cliff plan, threatens us with.

Talks on raising the debt ceiling have broken down completely. Both Republicans walked away today, because the Democrats have nothing to say.

Where the debt ceiling stands

The US debt ceiling is now about $14.29 trillion. Technically the government hit that limit in mid-May. Treasury Secretary Tim Geithner said that he could move some funds around to avoid actually borrowing over the legal limit. But he could do that only for another 11 weeks. That 11 weeks runs out on August 2.

The debt ceiling talks

Since early May, Vice President Joe Biden has run several meetings of top Democrats and Republicans to negotiate a rise in the debt ceiling. The problems:

Afghanistan war speech persuades no one

A memorial to the Soviet Afghanistan war stands in the Ukraine. Photo: Letitia Avierklieva. CC BY 2.0 Generic License.

President Obama weakly tried to compromise with his Afghanistan war speech. He persuaded no one and invited military and political defeat.

Summary of the Afghanistan war speech

President Obama gave this speech to the American people beginning at 8:01 a.m. EDT last night (June 22). He will withdraw 10,000 troops from Afghanistan by year’s end, and another 23,000 troops by the end of next summer. In all, Obama will withdraw as many troops as he sent in about 18 months ago..