Brent Budowsky: Make no mistake: If the debt ceiling is not extended and America goes into default, markets and economies around the world will probably crash.
Ivan Eland: Extending the U.S. nuclear shield to the much more unstable and violent region of the Middle East seems supremely foolhardy. The U.S. could more easily get dragged into an unplanned and unneeded future nuclear exchange there than in any other area of the world.
Robert Reich: The deal the President struck with Republican leaders is an abomination. It’s larger than the bailout of Wall Street, GM, and Chrysler put together, larger than the stimulus package, larger than anything that’s come out of Washington in years. The president needs new advisors.
Marian Wang: Not extending federal unemployment insurance, it noted, would cause 2 million unemployed workers to be cut off from federal unemployment benefits by the end of the year.
Robert Reich: The best outcome would be an agreement to extend the tax cuts for the bottom 99 percent, for two years. This would stimulate the economy in the short term when it most needs it, and reduce the long-term deficit.
Robert Reich: The President says a Republican proposal to extend the Bush tax cuts to everyone for two years is a “basis for conversation.” I hope this doesn’t mean another Obama cave-in.
Robert Reich: A record number of Americans is unemployed for a record length of time. This is a national tragedy. It is to the nation’s credit that many are receiving unemployment benefits. This is good not only for them and their families but also for the economy as a whole, because it allows them to spend and thereby keep others in jobs.