As president Obama is in the midst of bitter partisan negotiations to raise the government’s debt ceiling yet again, the country is waiting to see what the August 2nd deadline will bring. If the crisis is not resolved by the end of next week, the consequences will be severe according to Tim Geithner. On August 3rd, 70 million government checks may not be sent out to Americans. Since our legal population is just under 312 million, it is possible that 22.4% of the people living off the government will find reality staring them in the face on this date.
However, Mr. Obama has other plans for August 3rd. He will be in Chicago celebrating his 5oth birthday with a fund raising event where the tickets range from $50 to $17,900 per person.
I would suggest that Mr. Obama take stock of his position in our nation. Moody’s and a Chinese Credit Rating Company are about to downgrade our credit rating.
Dagong Global Credit Rating Co., a Chinese company, said today that it was putting its A+ rating for the U.S., the fifth-highest level, on “negative watch,” citing the nation’s deteriorating ability to repay debt.
The president’s approval rating is past any hope of being re-elected, unemployment is not abating and the beginnings of civil unrest across the country have become daily news.
What does August 3rd mean to me? The same thing that it means to America:
IT IS TIME TO DRAW THE FINAL LINE IN THE SAND
NO DEBT CEILING INCREASE
NO QUANTITATIVE EASING 3
Yes, there will be severe consequences for doing what is right and overdue. But the “leaders” in Washington have no choice but to acknowledge that the day of reckoning is now here.
David DeGerolamo
Obama hits Chicago for 50th birthday fund-raisers at the Aragon
WASHINGTON–President Obama returns to Chicago on Aug. 3 to mark his 50th birthday with fund-raisers at the Aragon Ballroom, with tickets ranging from $50 a person to $35,800 per couple, which includes VIP seating at a “Birthday Concert” where celebs will be performing and a dinner with the president.
The fundraiser at the Aragon, the historic ballroom in Uptown, will be one of the biggest third quarter events, expected to draw in national supporters. Obama’s 50th birthday is Aug. 4.
The Obama team on Wednesday reported collecting more than $86 million in second quarter fund-raising over $47 million directly for the Obama 2012 campaign and more than $38 million for the Democratic National Committee.
