Does anyone know if a deal has been reached on the debt limit ?

[kentuck]

The last I heard, Mitch McConnell wants the President to agree to three separate payments, but none that will get us through the next election.

And that is the key. And the President knows it. No way does he want this debate just before the election with the Bush taxcuts hanging in the balance.

Both sides know the intent of the other.

The Republicans want to take this lemon and make lemonade out of it. Basically, what is the President doing scaring the old folks into thinking they will not get their Social Security checks? Many people are buying into this spin. So far, the Democrats have not responded.

It is difficult to explain to some folks that if there are not enough taxes coming in and one side refuses to borrow enough money to cover the budget they have already passed, then something will have to be cut. There is not enough money to cover the bills. Wall Street knows that. Business leaders know that. The Tea Party and many Republicans seem to not know that. But I'm sure they have received a good talking to in the last couple of days.