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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: skinowski who wrote (63323)	6/10/2006 7:42:20 PM
From: shades	Respond to of 110194

A choice comment about that article - the logjam in congress seems to get thicker and thicker - this next election will be interesting - if some incumbents get booted and bush wants spending for wars and fences and no bid haliburton contracts for mega structure iraqi embassies - how will things play out? Where is Miss Cleo when you need her? Political default Bobcat2\| 06-07-06 \| 10:25 AM As I have noted before, there is also the possibility of a political default. In the late fall and early winter of 1995-1996 a budget battle broke out between the (R) Congress and the (D) President. Congress threatened to withhold increasing the national debt ceiling unless its budget demands were met. This would have resulted in at least a temporary default except for some innovative and deft maneuvering by Robert Rubin's Treasury Department. Given our budget woes and partisan politics, I don't see why such a scenario couldn't play out to the bitter end (temporary default) sometime in the future. Bob K