Mark Warner: Time for Business Community to Speak Out, Push for Debt Deal

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    According to Mark Warner, it’s possible that the debt ceiling issue won’t get fixed, and that this would be playing “Russian Roulette” with the economy, risking a major financial meltdown among other things. Warner adds that most of the business community is underestimating the threat here, assuming it’s “just one more political squabble and that we’ll get it fixed.” Warner believes that if we go “over this cliff, we don’t have a lot of tools left” to deal with the situation, making this a very “dangerous” scenario. Bottom line according to Warner: it’s time for the business community to speak out, beyond “attaboys,” and put “real serious pressure” on politicians to reach a debt ceiling deal ASAP -or else!

    • normanva

      I saw an interview with Warren Buffett this morning.  He

      also spoke of “Russian Roulette”.  

      http://www.cnbc.com/id/43667112  

    • Teddy Goodson

      It’s way, way past time for business persons to recognize that their beloved Republican Party is utterly out of hand, and that, however good they imagine the GOP to be for business, the truth for a long time has been that it’s good for mega-business, but not for middle- or small-business. Now if they suddenly want to apply pressure on the politicians, the pressure should not be used indiscriminantly, or simply on Democrats to give more and more, but on Republicans to cut out their posturing and manic behavior. I’m afraid this will not be the case; pressure will be mainly on Democrats to yield more.

    • AnonymousIsAWoman

      And so is Teddy Goodson, btw.

      If the debt ceiling is not raised, it will be an absolute disaster. Business large and small will suffer, as will the middle class and working people. Failing to raise the debt ceiling will lead to a double dip recession. Our economic recovery is fragile and this would be a major hit to it.

      But the major obstacle to passing a bill to raise the debt ceiling has always been the Republicans. Even those who used to be responsible are afraid to buck the Tea Party.

      The business community has got to be the ballast that applies pressure to act responsibly on the GOP.