US Action News

Senator Ron Johnson explains the ramifications of continuing business as usual with Lou Dobbs.

Saying the the future of the country hangs on the debt debate O’reilly highlighted Senator Marco Rubio’s appearance on Face the Nation and concluded that the GOP should follow Rubio’s lead if they want to win.

“You can’t have a government that spends $1.5 trillion more than it takes in every single year…” “you cannot have a governemnt that spends forty cents of every dollar that it spends as money that its borrowing.” Rubio, Bachmann, West, Cantor – some that get it and are not afraid to be truthful.

Rep Joe Walsh gets questioned about calling the president a liar and saying that Obama is in over his head in the debt ceiling debate. When is it not appropriate to point out lies and deceit at the highest levels of government? Has lying to the people become so acceptable that we care more about someone that points out the lies?

Senate leader Harry who led the senate in increasing the debt by $5 trillion in the last six years has said Rep. Eric Cantor should not be in the debt negotiations. Speaker Boehner defended Cantor saying “we have been in this fight together … we’re in the foxholes … what we’re trying to do is solve a problem that has eluded Washington for decades.”

“Washington is shifting the burden of bad choices today onto the backs of our children and grandchildren. America has a debt problem and a failure of leadership. Americans deserve better.” – Sen. Barack Obama

The president is “more interested in delivering a tax increase to please the base of the party than he is about solving the problem.” Senator Marco Rubio appeared on Sean Hannity’s radio show this afternoon to talk about the debt limit debate and the out-of-control spending in Washington.

“The time has come for this congress to send to the states a balanced budget amendment that will limit federal spending and require this national government to live within our means.” Thirty-two of the fifty states have balanced budget requirements.

“He came out with a speech, which the CBO tells us they can’t score a speech. We really haven’t had any actual specific, credible alternatives from the other side of the aisle on how to achieve this. We put a lot of details out there, we are hoping our partners on the other side of the aisle do the same.” … “It’s been about 800 days since the Senate bothered to pass a budget. Mind you, our law here requires every year for Congress to pass a budget by April 15. We have done that and they haven’t for about two years now. I think the reason they didn’t do this is because they don’t want to show the people the kind of tax increases they have in store for the American people and for the economy.” – Rep. Paul Ryan

Since a U.S. dollar collapse is ranked as the greatest risk to the world, and dollar’s fate is largely dependent on if the bond market has faith in Uncle Sam, it might be helpful to add five additional warning signs that the bond market is freaking out.