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republican senate leader mitch mcconnell told the washington post exactly how he saw our nation s debt limit. quote, what we did learn is this. it s a hostage worth ransoming. a hostage. that is how republicans view this, and that is how we should too. here s what happened five days after mcconnell s hostage statement. this because dark day for the nation s finances and for millions of americans with a stake in the markets, the very same americans who are still processing the fact that our country has lost its top credit rating. here s the damage from today. the dow down over 630 points. that s the sixth largest drop in history, the worst since 2008. nasdaq lost about 7% of its total value. s&p 500 lost 6.6% of its value in one day. the president went on television at midday to reassure americans, but the damage was done. the markets continued to drop while he spoke, and the damage continues. it s a bigger systemic problem with no end in sight. that was what is no ....
During those years, the chief economist at moody s analytics found that the sheer uncertainty by this stunt cost the country as much as $180 billion and 1.2 million jobs, and now the republican-controlled house wants to do this all over again. they want their own hostage crisis. today the united states hit its debt limit. we can no longer borough any more money. to keep the lights on, treasury secretary janet yellen has been tasked to come up with creative money to take money from agency to agency to pay as many bills as possible. make no mistake, our country is teetering closer and closer to the edge of financial collapse, that is, until the republicans agree to increasing the debt demands. to really understand what s ....
It doesn t sink in? laura, maybe you should get ted cruz to listen to your show more often. certainly you don t think that, do you? one thing laura conveniently didn t mention was of course the $24 billion that this stunt cost this economy. when democrats head to the bipartisan budget conference, they need to remember this number and they need to stick it to them with that number. don t talk to me about fiscal responsibility, you ve cost us $24 billion. oh, what s that word that cantor likes to use all the time? offsets. how are we going to offset this? let me tell you what the target is and they will be as ruthless as they can be when they get to that table. it s going to be social security, medicare, medicaid and those damn food stamps that all those takers are just grabbing all the time. i hope this hangover from this shutdown lasts all the way through the midterms, because you know what? ....