Senate Passes, President signs Debt Ceiling Deal

74-26, like a lopsided College Football game.

It’s over folks (until 2013 anyways)! Earlier today, the Senate passed a deal that raised the debt ceiling and ensured that the country would not default on it’s finances. Not long after that, the bill was signed by President Obama and the country breathed a sigh of relief..

Being trillions in debt never felt so good…

The deal that would raise the ceiling without raising taxes was mostly considered a stalemate amongst the parties. Not cutting taxes for the wealthy was the main concern of Democrats, while Republicans wanted preferred the Cut, Cap, and Balance Bill. Everyone waits to see how the economy will react over the next few weeks and if the credit agencies will lower our shining AAA credit rating.

Things aren’t going so well for President Obama. While, Speaker of the House John Boehner is catching some static from the Tea Party, Democrats are asking themselves “What Happened” to all of the conditions that lead up to this stand off.

The Tea Party should forgive Boehner, no taxes were raised. Are the hefty lefties going to forgive President Obama? Eventually, but this is viewed as caving under pressure, for the Democrats.

The President pushed back at press conference vowing to close the tax loopholes for the wealthy and ensuring that medicare would be preserved for future generations. Here is a statement from that conference.

“I’ve said it before; I will say it again: We can’t balance the budget on the backs of the very people who have borne the biggest brunt of this recession. We can’t make it tougher for young people to go to college, or ask seniors to pay more for health care, or ask scientists to give up on promising medical research because we couldn’t close a tax shelter for the most fortunate among us. Everyone is going to have to chip in. It’s only fair. That’s the principle I’ll be fighting for during the next phase of this process.”

Well, I’m glad this is over…Back to everyday business tomorrow and you know what that means!

No matter how much we go into debt, they’ll never take Charlie Crist away from us..