So, this debt ceiling deal that President Obama and congressional Republicans concocted to get America on the path to recovery. I mean, I know it's a little early to tell for sure, but how's that working out so far?
The Dow tumbled 512 points on Thursday, its biggest point drop since Dec. 1, 2008. It's in the red for the year and has fallen more than 10% below the 2011 closing high in April, putting the measure squarely in correction territory.
Oh, but that doesn't mean… Does it?
It has been three decades since the United States suffered a recession that followed on the heels of the previous one. But it could be happening again.
Hmmmmm… I see.
But people have to know that the the President and Congress — in taking us to the brink of financial ruin before deciding to cut trillions of dollars of spending, without bringing in any additional revenue, in a time of extreme economic hardship — were acting in what they believed was the best interest of the nation, right? I mean, people have to know that!
A record 82 percent of Americans now disapprove of the way Congress is handling its job — the most since The Times first began asking the question in 1977, and even more than after another political stalemate led to a shutdown of the federal government in 1995.
More than four out of five people surveyed said that the recent debt-ceiling debate was more about gaining political advantage than about doing what is best for the country. Nearly three-quarters said that the debate had harmed the image of the United States in the world.
Republicans in Congress shoulder more of the blame for the difficulties in reaching a debt-ceiling agreement than President Obama and the Democrats, the poll found.
Okay, but people still think that John Boehner's tan looks totally boss! Right? Right?
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Tags: Barack Obama, Debt, Democrats, Dow Jones, Economy, Eric Cantor, Harry Reid, House of Representatives, John Boehner, Mitch McConnell, Nancy Pelosi, Polls, Republicans, Senate, Wall Street