Our Debt-Ceiling Worries Aren't Over Yet

We're still not sure when this will end: Business Insider also reports that, according to NBC's Chuck Todd, a short-term extension of the debt ceiling is possible to give both sides time to hash out the final details on an agreement.

In fact, there may not be a deal at all: CBS News' Mark Knoller tweeted that, when asked if there was a deal, David Plouffe, senior adviser to Pres Obama, said "No, there's not" -- although he did seem optimistic against default. Meanwhile, Sen. Lindsey Graham says he expects only about half of the GOP conference in the House to back the deal.

Even if there is, not everyone is thrilled about how it all turned out: CNN/Daily Beast's Howard Kurtz tweeted: "If there are $3 trillion in cuts and no tax hikes, Obama will have to explain how it is that the Republicans got 98 pct. of what they wanted." And economist Paul Krugman said any spending cuts will slow the economy further during the recession. He says "we will envy Japan" during their "lost decade." He added that with these spending cuts, unemployment may be above 9 percent at the end of 2012.

Read the full story at The Atlantic Wire.

Presented by

The Atlantic Wire is your authoritative guide to the news and ideas that matter most right now.

Why Principals Matter

Nadia Lopez didn't think anybody cared about her middle school. Then Humans of New York told her story to the Internet—and everything changed.

Join the Discussion

After you comment, click Post. If you’re not already logged in you will be asked to log in or register with Disqus.

Please note that The Atlantic's account system is separate from our commenting system. To log in or register with The Atlantic, use the Sign In button at the top of every page.

blog comments powered by Disqus

Video

A History of Contraception

In the 16th century, men used linen condoms laced shut with ribbons.

Video

'A Music That Has No End'

In Spain, a flamenco guitarist hustles to make a modest living.

Video

What Fifty Shades Left Out

A straightforward guide to BDSM

More in Politics

Just In