As far as the Republican party is concerned, the reputation of the United States among nations of the world is of no importance since the bottom line is how can we ensure the wealthy of this nation have more and more money. House of Representatives leader, John Boehner, insists there will be no compromise with the president over raising the debt limit since to do so would endanger the economic health of the nation. President Obama has asked for slight increases in taxes on the wealthy of this nation, but to Republicans if you tax the wealthy it will result in less money invested and a rise in the unemployment rate. Currently, American corporations have over $1 TRILLION waiting in their vaults or invested in the stock market. The national tax rate is the lowest in seventy years, but Republicans insists raising it by one percent would lead to the end of America as we know it.
Republicans want $2 Trillion in spending cuts before agreeing to raise the debt limit. Most probably, the President will “COMPROMISE” by agreeing to cuts in government spending of about $1.8 Trillion. Barack Obama never met a compromise in which he would give opponents at least 95% of what they want. After all, they didn’t get the entire 100%!