"Austerity" is a word you will hear more and more, especially if the economy double dips. Greece is on fire with riots right now because of austerity measures. Riots happen where ever austerity is introduced. Can our society handle this coming crisis?
Top ratings agency Moody’s has predicted that the U.S. and the UK could witness similar riots to those seen in Greece in response to emergency austerity measures imposed by governments in an effort to retain their AAA credit status.
“Growth alone will not resolve an increasingly complicated debt equation. Preserving debt affordability at levels consistent with AAA ratings will invariably require fiscal adjustments of a magnitude that, in some cases, will test social cohesion,” said Pierre Cailleteau, the chief author of the report.
Read more...
earlier:
Procedure or violation of the Constitution? Speaker of the House Nancy Pelosi considers a rare move called "Deem & Pass" in which the entire House of Representatives is bypassed in the passing of the Senate's health care legislation
A newly emerging Democratic plan to vote on health care reform without really voting on health care reform has critics riled up, as House Speaker Nancy Pelosi and her allies are accused of resorting to legislative trickery to send a bill to President Obama's desk.
Senate Democratic leaders had already drawn jeers from Republicans for a plan to try to pass a follow-up health bill with only 51 votes, as opposed to 60. Now Pelosi and Rep. Louise Slaughter, D-N.Y., chairwoman of the House Rules Committee, are cooking up a plan to pass the original health bill from the Senate side without forcing rank-and-file Democrats to technically go on record in support of it.
"Republicans believe that if the Democrats are willing to have the government take over our health care system, they should be willing to vote for it -- without any gimmicks," House Republican Leader John Boehner's office said in a statement. "Democrats wonder why people are so upset with Washington."
Here's how the maneuver would work and why Pelosi wants it:
Before Congress can consider the package of changes that many lawmakers want in exchange for their support on the original bill, the House has to first pass the original bill from the Senate side.
Problem is, even with assurances that the package of changes will be considered, many House Democrats don't want to go on record in support of the Senate bill -- what with its sweetheart deals, tax on high-value insurance plans and other controversial provisions.
Read more...
RELATED: Slaughter House Rules
