"Anger at the nation's leaders for taking so long to strike a debt-ceiling deal has turned into high anxiety over jobs and the economy amid growing fears of a new recession," writes Tom Raum for the Associated Press. The whole world has been watching the gridlock as the U.S. Congress and President Obama debated, discussed and fought over the proposed debt ceiling measure.
Now that President Obama has found common ground with the Republicans, he has signed the debt ceiling measure. Of the measure, Raum writes, "Terms of the debt ceiling deal will extend the U.S. government's borrowing authority and trim federal spending contributed to investor angst. Many economists suggest the debt-limit measure could even wind up making economic problems worse if belt-tightening spending cuts coincide with a new recession. Friday's jobs report — a net increase of 117,000 new jobs in July and an unemployment rate ticking down to 9.1% from 9.2% in June — was better than expected by forecasters, but it did little to ease fears of a new recession. The jobless rate now has exceeded 9% in all but two months since the recession officially ended in June 2009. However, White House and Treasury officials reject the idea that a double-dip recession looms, insisting that the economy will continue to grow and create jobs, if slowly."
As the impacts of this debt ceiling measure become reality, a new BEEF magazine poll at beefmagazine.com asks, "What’s your opinion on the debt ceiling measure signed by President Obama?"
So far, 3% of you say you are happy with the measure. A whopping 90% are disappointed, with the remaining 4% undecided or neutral about the debt issues facing the U.S. What are your thoughts on the measure? Add your two cents and share with us in the comments section below, and be sure to vote in this week's poll!
I know kicking off the week talking about the nation's debt and a potential recession is very depressing, so to lighten things up, check out this great video, "Green Grass and Grazing Cows." It will certainly brighten your day!