Where is the US economy headed?

I was referring to the post that begins with "The Dow Jones...is firing on all cylinders..."
I missed seeing the source. What was it, again?

Nice, simple, and stupid.

Higher than expected revenue and lower spending has pushed back the real deadline for when Congress must raise the debt ceiling until as late as October.

via Media Matters
This is the entire reason Fox News exists. To pass off garbage as news to a base that only wants to hear garbage:
[Fox News contributor for some reason Juan Williams]: It's like a tragedy ... the U.S. Senate can't take action on simple background checks that overwhelmingly the American people, in poll after poll, say that it's a good idea, it would be a good thing. Gun owners say, 'Yes, it's a good thing.' But again, the power of big money, the NRA, and the gun manufacturers has carried the day. So let's look at the record then--
[Fox News anchor and hydroponic hair farm Bret Baier]: Well, hold on. Gun owners overall don't say that. You mentioned the NRA. They say [blah blah insufferable horsecrap blah ...]

Advocate wrote:

Higher than expected revenue and lower spending has pushed back the real deadline for when Congress must raise the debt ceiling until as late as October.

This a bound to piss off a lot of Republicans. They had been counting on using the routine raising of the national debt ceiling as an opportunity to posture in front of the cameras. Looks like they may have to wait awhile.

Are Republicans really gunning for another debt-limit showdown?

Michael Reynolds/EPA - Senate Minority Leader Mitch McConnell (C) joins other Senate Republicans in delivering remarks to members of the news media following a Republican policy luncheon, on Capitol Hill, May 7.

By Lori Montgomery, Updated: Wednesday, May 8, 2:33 PM

The federal debt limit is set to kick back into effect next weekend after a three-month hiatus, marking the start of a political game of chicken likely to culminate in the fall, when Congress will have to give President Obama a higher limit or risk a federal default.

Which raises the perennial question: How far are congressional Republicans willing to push this?

A new Goldman Sachs forecast predicts that the government will not reach its debt limit until early September or October. Part of the variable is whether Fannie Mae and Freddie Mac release tens of billions of dollars to taxpayers. The dotted lines show Goldman Sachs's three predicted debt limit scenarios.

Bill set for House vote Thursday suggests early signs of GOP anxiety

Lori Montgomery 2:33 PM ET
The debt limit is scheduled to kick back into force May 19. For now, GOP leaders are talking tough.

Many Democrats predict Republicans will fold like a cheap suit as the deadline approaches, eager to avoid the disaster of 2011, when the last debt-limit showdown sent congressional approval ratings plummeting into single digits. GOP lawmakers pretty much caved in January, when the House voted without much fuss to suspend enforcement of the debt limit until May 19.

“There is no doubt in our minds that no Republican leader wants to default,” said House Minority Whip Steny Hoyer (D-Md.). “If we default” or if the U.S. credit rating is downgraded again, “I think they’re going to pay a hellacious price for their fiscal irresponsibility.”

For now, House Speaker John A. Boehner (R-Ohio) and Senate Minority Leader Mitch McConnell (R-Ky.) are talking tough, vowing to block a debt-limit increase unless Obama agrees to cuts and reforms that they say are necessary to put the nation on a path to a balanced budget.

“It’s extremely unlikely that any Republican is going to raise the debt ceiling without doing something about the debt,” McConnell said Tuesday.

Still, there are already signs of GOP anxiety.

Take the measure that is set to come before the House on Thursday. It started out as a garden-variety prioritization bill that would have directed Treasury Department officials to pay certain bills first if they hit the debt limit, are forced to stop borrowing and have to make due with incoming tax receipts.

But House Ways and Means Committee Chairman Dave Camp (R-Mich.) rewrote the bill to carve out exemptions to the debt limit, so the Treasury Department could continue borrowing to make interest payments to creditors and to the Social Security trust fund. Analysts at the Bipartisan Policy Center say the measure, if adopted, would have the effect of extending the Treasury Department’s borrowing authority for at least a month.

Boehner said the measure establishes House Republicans as responsible actors who are committed both to avoiding default and to getting the debt under control.

“Our goal here is to not default on our debt. Our goal here is to get ourselves on the sustainable path from a fiscal standpoint,” Boehner told Bloomberg TV on Tuesday. “I think doing a debt prioritization bill makes it clear to our bondholders that we’re going to meet our obligations.”

Democrats have excoriated the measure, not least because it would guarantee payment to Chinese creditors, for example, while offering no such protection for, say, military salaries. The White House this week threatened to veto the measure and accused House Republicans of “political gamesmanship.”

Boehner defended the bill in the Bloomberg interview. “Listen,” he said. “Those who have loaned us money, like in any proceeding, if you will, court proceeding, the bondholders usually get paid first. Same thing here.”

The measure is likely to pass the House but has no chance in the Democrat-controlled Senate. House leaders, meanwhile, are casting about for a more promising strategy.

A leading option: Tie the debt limit to tax reform, offering periodic increases in borrowing authority in exchange for progress toward a simpler tax code with lower rates.

No decision has been made, however, and House Republicans plan to gather next week for the first of several major strategy sessions.

The Republicans prefer it to be an economic revolution. If the government crumbles (they need it before the Hispanics get more people into the voting process) they reason they control the Corporations and the Wealthy Americans, they dicatate the new government - it becomes Totalitarian. Bingo, go to hell middle class - it will exist no more!!!!!!!!!

... the hope of the right is for the economy and the country to crumble.

WASHINGTON — Elderly Americans on Medicare are substantially happier with their insurance coverage than their younger counterparts who rely on commercial insurance, according to a new national survey.

Only 8 percent of Medicare beneficiaries 65 or over rated their coverage “fair” or “poor,” the nonprofit Commonwealth Fund found.

By comparison, 20 percent of those with employer-based coverage gave their insurance plan low marks. And 33 percent of people who bought insurance on their own reported unhappiness with their coverage.