The loss of the U.S. AAA bond rating should be more than a wake-up call – it’s an alarm. With a dow falling 634 points as a result of Standard & Poor’s downgrade, there is no doubt about the serious impact on our economy. Combined with what is happening in Europe, responsive action is imperative.
Senator McConnell’s proposal to raise the U.S. debt ceiling reaches a new low in Congressional profiles in cowardice.
Congresswomen Michele Bachman’s candidacy for the Republican nomination was given a boost by her performance at the recent New Hampshire Debate.
A key issue in Washington this week is the political conflict on raising the federal debt ceiling. If Congress does not act by August 2nd, the federal government will not be able to borrow additional funds resulting in a default on its’ obligations.
A key issue in Washington this week is the conflict between Congress and the President over the application of the War Powers Resolution to US military action in Libya. The Constitution gives Congress the exclusive authority to declare war.