Tick, tick. August 2nd is the Debt Limit Armageddon. Or Not.

That move came amid a worrisome development in Friday’s debt-limit drama: the ongoing talks between Reid and McConnell appeared to have broken down and it was unclear whether either leader was talking with the other.

“Well, we have a curious situation here where the majority doesn’t seem to want to vote on its own proposal,” was McConnell’s answer when asked as he exited the Senate chamber late Friday how the talks with Reid were progressing.

“Certainly there’s satisfaction in it,” Mr. Brooks said of his legislative victory. “That’s why I ran for office. You want to help your country.”

Repeat:
1. August 2 is a fictitious deadline. It's an estimated deadline that could change based on tax receipts. Business leaders have proposed prepaying their taxes if a deal is close so the government won't run out of money. The reason for Aug 2 is on Aug 3 SS checks are supposed to go out. That is a lot of money to put out on one day.
2. Payments on federal debt - and all payments from Social Security - are safe for years. Payment on SS is only as safe as the ability of the general fund to pay it back. The general fund takes in 1.3 trillion, but needs to pay out almost twice that amount. The deficit isn't a result of SS. It's a result of too much spending that is supposed to be covered by income taxes. Raise the damn taxes already because you can't cut enough without eliminating the military.
3. There's enough money in the Treasury as of close of business yesterday to cover all expenses until at least August 15. This panicky charade is disgraceful! Let's hope there is but if we set the deadline at Aug 15, we would still be trying to create a deal then.

They also don't see the damage they have already caused all the economies of the world. That's because they are extreme terrorists who doesn't care about collateral damage.

Posted at 01:35 PM ET, 07/30/2011
43 Republican senators announce opposition to Reid debt-limit plan
By Felicia Sonmez
Forty-three Republican senators on Saturday penned a letter outlining their opposition to Senate Majority Leader Harry Reid’s bill to raise the country’s debt ceiling, a move that ensures the measure will fall short of the 60-vote threshold necessary to avoid a filibuster.

Senate Minority Leader Mitch McConnell (R-Ky.) announced on the floor shortly after the chamber convened Saturday afternoon that the senators had delivered the letter to Reid’s office.

The move means that even if Reid (D-Nev.) were to secure the support of all 53 members of the Democratic caucus as well as the four Republicans who did not sign the letter, his bill would still fall three votes short of the threshold.
http://www.washingtonpost.com/blogs/2chambers/post/43-republican-senators-announce-opposition-to-reid-debt-limit-plan/2011/07/30/gIQArEXcjI_blog.html

Reid's bill won't likely pass, which will drag this out even longer.

But radicals know that one must break some eggs to make an omelet,

I think that the current media effort on this story will go far to convince those on the right who have been hold-outs that the media is very biased towards the left.

hawk, What makes you believe the tea party is making an omelet? Even the making of an omelet requires a pan, some oil and a heat source; in other words, it can't be made on its own. They're saying they don't need anything else. Your omelet analogy fails.

The Tea Partiers have such a stranglehold on the Republican party, and have rendered that party so dysfunctional, that they will ensure Obama's re-election.

I have not made up my mind, I am however illuminating what they think they are doing, if they are to be believed,

These Tea Party people were not elected to destroy "the full faith and credit of the United States".