Obama & the Debt Ceiling

 Many people believe that the deal to raise the federal debt ceiling will be beneficial. However, it will actually make everything worse. We should begin our attempts economically. We have a depressed economy as of right now and nothing is changing anytime soon. Tough action on the budget won't cause people to spend more money. It doesn't work that way in real life.

The Republicans are becoming more and more encouraged as President Obama continues to subdue to their threats. We have reason to believe that Obama actually had a Plan B. We should all be comforted knowing that the president is willing and able to stand up to blackmail. Unfortunately, Republicans can continue to threaten to create a crisis unless the president surrenders. Its not going to be easy if whichever party is the most prepared to be ruthless wins...we're in trouble.

1. What is the federal debt ceiling?

 -The debt limit

2. What is "America's long term deficit problem"?

 -The money that we owe.

3. In the 4th paragraph, what does Krugman say is the worst thing the government can do when the economy is bad?

 -If you stop the gov't from spending money and just because you give out more money, doesn't mean that people will spend more.

4. Why do you think Krugman says that the president surrendered?

 -He is giving in to the Republicans.

5. What is "defense spending"? 

 -The money that we use to protect ourselves.

6. What is the "G.O.P"?

  'Grand Old Party' the nickname for the  Republicans

7. What is Krugman's main criticism of the way the president has handled things?

-He isn't standing up to the Republicans to blackmail

8. What is "Medicare"?

 -A federal system of health insurance for people over 65 years of age and younger people with disabilities.

9. What conclusions does Krugman make in his last paragraph?

 -Democracy can't work if the most ruthless, corrupted party always wins.

10. Based on what you have read, what do you think Krugman's political opinions are?

 -Something has to change and it won't be quick or easy. We are at a lose-lose stand-still.Our democracy is doomed if we allow a certain party to have more control than the other.