U.S. Republicans walked out of budget talks on Thursday, setting up a showdown between President Barack Obama and House Speaker John Boehner over how to extend U.S. borrowing and avoid a looming debt default.
“Let me be clear: Tax hikes are off the table,” said the Republican leader of the House, Speaker John Boehner.
Republicans quit unexpectedly after saying the group had reached an impasse over tax increases sought by Democrats.
“It is time for the president to speak clearly and resolve the tax issue,” said House Majority Leader Eric Cantor, who had represented House Republicans in the talks. Republican Senator Jon Kyl also pulled out.
An agreement would give lawmakers political cover to raise the $14.3 trillion debt ceiling before Aug. 2, when the Treasury Department has said it will run out of money to pay the country’s bills.
Default could occur if Congress does not act by then, which could push the United States back into recession and send markets plunging around the globe.
About 30,000 are expected to get these interest-free loans, which can eventually be forgiven by the Emergency Homeowners’ Loan Program.
Homeowners have until July 22 to get pre-screened for a new, interest-free government loan intended to help delinquent homeowners stave off foreclosure. In fact, for those who play by the rules, the loan isn’t really a loan — it’s a gift.
No reason is offered for the short deadline, only that the next four weeks are for “pre-screening” applicants. After that, presumably, selected homeowners will be allowed to apply.
The $1 billion in aid — money provided in the Dodd-Frank Wall Street Reform and Consumer Protection Act (.pdf file) — was announced this week.
“The program, known as the Emergency Homeowners’ Loan Program, is expected to help up to 30,000 distressed borrowers, according to HUD,” says The Washington Post.
Publisher Comment: Obama may well be more dangerous than this raging tool for evil himself, at least we know where Ahmadinejad stands as a destructive “force”. Mr. President, what are you going to do and when are you going to do it? You already dropped the ball in Iran when one of the most evil regimes might have been removed, instead you attack the Egyptian and Libyan leadership. Don’t Hosni Mubarak and Muamar Quadaffi fit your mold Mr. President? Did they not have enough Anti American sentiment? Aren’t you asserting more Muslim power, and less US autonomy? -PBN
TEHRAN, Iran (AP) — Iran’s president says his country isn’t afraid of making a nuclear weapon but doesn’t intend to do so. “Yeah Right” -DO
Iranian state television on Thursday quoted President Mahmoud Ahmadinejad as saying: “If we do want to make a bomb, we are not afraid of anybody.”
Iran has long insisted that its nuclear programs are peaceful and meant only to generate power for a future nuclear reactor network. But the U.N. Security Council has passed four sets of sanctions against Iran for refusing to freeze activities that could be used in a weapons program.
The U.N. says Iran also blocked an IAEA probe into allegations of secret experiments that could reflect attempts to develop an arms program.
Publishers Note: Passed onto us by our friend Judy. We have discussed this on a recent May 30 post.
This is a VERY SERIOUS ISSUE! PLEASE SHARE THIS BLOG and please tell your friends, family and everyone you come in contact with, this is a bill that will further create a soft dictatorship in America, taking away more freedoms and continuing to squelch liberty. This is criminal, this is treasonous and traitorous. CALL CONGRESS!! -PBN
GOT THIS EMAIL EARLIER TODAY FROM 9-12 ON ning. IT IS A TEA PARTY SITE. I REALLY NEED YOUR HELP RIGHT NOW.
I JUST GOT A COPY OF THIS EMAIL THAT THE FOLLOWING PATRIOT JUST SENT TO BOTH HIS SENATORS. THIS IS URGENT. BELOW, I HAVE COPIED THE LETTER AND THEN AFTER THAT, I HAVE COPIED THE POST FROM JADE LAW. PLEASE SEND LETTERS TO EVERYONE ON YOUR LISTS AND TO YOUR SENATORS NOW!
THANKS! I HOPE YOU RECOGNIZE THE SERIOUSNESS OF THIS REQUEST! read more