"We have now run out of time" President Obama said on Friday after talks collapsed on a deficit reduction package worth more than $3 trillion over 10 years.
As a rational-thinking and deeply concerned citizen of the USA I am absolutely stunned by the latest irrational behavior of the Republican leadership in dealing with the pending financial crisis facing our country and the entire global economy.
It's beyond reason that House Speaker John Boehner (R-Ohio), Mitch McConnell (R-Ky) and Eric Cantor (R-Va) can act so recklessly purely in an effort to protect their individual political futures.
Enough is enough - We need the debt ceiling limit to be raised!
This isn't simply about incurring new government expenditure - it's about honoring and paying our bills of the past.
President Obama needs to tell Republican leaders that unless an acceptable compromise can be reached by Monday (which is almost the 11th hour), he will invoke Section 4 of the 14th Amendment to the Constitution to ensure that the US does not default on its financial obligations.
Section 4: The validity of the public debt of the United States, authorized by law, including debts incurred for payment of pensions and bounties for services in suppressing insurrection or rebellion, shall not be questioned.