What Are The Consequences If A Debt Deal Is Not Reached According To The IMF?

Christine Lagarde is the IMF’s managing director. In the following videos, she outlines her thoughts on the consequences of Congress not addressing the debt ceiling by the August 2nd deadline.

Watch her demeanor in this first video from two weeks ago:

httpv://www.youtube.com/watch?v=LuvdoR49ZUM

Now contrast her demeanor in today’s interview. It seems that reality is sinking in:

httpv://www.youtube.com/watch?v=wIbgUPdwHqg

The International Monetary Fund’s managing director Christine Lagarde said
Thursday in a PBS NewsHour interview that if U.S. lawmakers can’t reach an
agreement on the debt ceiling, one of the global impacts could be a loss of
confidence in the U.S. dollar.

Unfortunately, reality is not part of Tim Geithner’s world as of this past Sunday:

httpv://www.youtube.com/watch?v=3c2x8SUICBA

I wish Mr. Geithner would not have spent all of the federal employees’ pension fund to extend the deadline to August 2nd since it has only postponed the same outcome. Mr. Geithner and Mr. Bernanke have both been  rather quiet since legislation to address the debt ceiling will not be approved before the deadline. Mr. Obama quietly waits in the White House as he oversees a failed administration continue to unravel. We now understand that Washington will always postpone any measures that are not politically expedient. Once the people started holding both political parties responsible for this crisis, both parties placed the blame on the Tea Party. Washington is about to realize that patriots and educated citizens do not a Tea Party make and they will face the consequences outlined by our founding fathers.

David DeGerolamo

 

      
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One Response to What Are The Consequences If A Debt Deal Is Not Reached According To The IMF?

  1. Washington is about to realize that patriots and educated citizens do not a Tea Party make and they will face the consequences outlined by our founding fathers.

    Hopefully.

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