February 7, 2014 12:00 AM EST
Estimates show that the United States might reach its debt ceiling limit Feb. 7, prompting fears of a massive collapse
By Shepard Ambellas
WASHINGTON, D.C. (INTELLIHUB) – ”It would be a mistake to wait until the 11th hour to get this done”, said U.S. Treasury Secretary Jacob Lew Monday, pushing congress to lift the debt ceiling limit which is creeping up fast, maybe by the days end. This confirms that the current economic state of the nation is not in very good shape and that we may see some vulnerability in the markets over the next few days.
As you may already know, the U.S. economy and employment sector has been in ruins lately as the value of the U.S. dollar continues to diminish. Now some fear that lifting the debt ceiling limit may be the final straw that breaks the camels back.
As of now House Republicans have yet to come up with a firm plan to attach to the issue. However, early on they were considering the Keystone Pipeline and a few other petty issues which likely won’t work for them. In fact, now the train of thought may swap as Republicans may try to flip the scripts on House Democrats in a last ditch effort.
U.S. News reported:
The new laundry list, however, may not be the debt busting or job creating proposals Republicans have demanded in the past. In fact some of the proposals are actually meant to attract Democrats. A few Republicans have called on House Speaker John Boehner, R-Ohio, to restore a cost of living adjustment to military retirees, something Democrats also favor. Others have suggested Boehner slow the cuts to the so-called doc fix, payments for doctors who treat patients on Medicare.
To no surprise, the issue of tax reform has also been mentioned lately, however alterations in the U.S. tax code are highly unlikely at this time.
Interestingly enough American spectators may have to wait and see what happens as House Republicans aren’t the only threat to the economy. Recent rhetoric of terror has been flooding the airwaves as the 2014 Sochi Olympics kick in to gear. The U.S. Dept. of Homeland Security has issued warnings regarding toothpaste and other cosmetic type tubes on airlines. DHS said that terrorists may use the tubes to detonate bombs, disturbing the Olympic games.
Several U.S. warships await in waters nearby according to reports.
(Photo: Wikimedia Commons)
Shepard Ambellas is the founder and editor-in-chief of Intellihub News and the maker of SHADE the Motion Picture. You can also find him on Twitter and Facebook. Shepard also appears on the Travel Channel series America Declassified.
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