Debt Deal Doesn't Solve Our Economic Problems

Skip navigation #headerOverlay{ color: #ccd6df; font-size:11px; line-height:130%; } #headerOverlay strong{ color: #ffd226; } #headerOverlay a {color:#ccd6df;text-decoration:none;} #headerOverlay a:hover {color:#ffd226;} #headerOverlay a:visited {color:#ccd6df;} #headerOverlay a:visited:hover {color:#ffd226;} Meredith WhitneyToday 4:15PM ETSymbol Lookup onloadAutoSuggest(); var pgValue = "CNBSEB"; var cmsKeyWord = "alternative investing"; var cmsNewPG = "CNBWAB"; if ((cmsKeyWord.length > 0) && (cmsNewPG.length > 0)) { var newPG = cmsNewPG.split(';'); var group = cmsKeyWord.split(';'); if (newPG.length == group.length) { var description = cnbc_pagedesc.toLowerCase(); for(var x = 0; x < group.length; x++) { var keyWord = group[x].split('|'); for (var j = 0; j < keyWord.length; j++) { if (description.indexOf(keyWord[j].toLowerCase()) != -1) { pgValue = newPG[x]; j = keyWord.length; x = group.length; }}}}} if (cnbc_DARTFlag=="new") { cnbc_DARTAdCall(88,31,pgValue); } else { dapMgr.enableACB("SearchBox88x31",false); dapMgr.renderAd("SearchBox88x31","&PG=" + pgValue + "&AP=1071&PN=CNBC",88,31); } cnbc_displayUsername("cnbc_usertime","cnbc_username");RegisterSign InMember CenterSign OutRegistercnbc_toggleUserState();HOMENEWSMARKETSEARNINGSINVESTINGVIDEOCNBC TVCNBC 360CNBC PROU.S.Asia-PacificEuropeEconomyEnergyGreenTechnologyBlogsWiresSlideshowsSpecial ReportsCorrections if (cnbc_DARTFlag=="new") { cnbc_DARTAdCall(728,90,"CNBGE7"); } else { dapMgr.enableACB("USNewsBlogs728",false); dapMgr.renderAd("USNewsBlogs728","&PG=CNBGE7&AP=1390&PN=CNBC",728,90); } NetEveryone Is a Contrarian Indicator var cnbcSubHeaderId = document.getElementById('subheader_'+ 38911124); cnbcSubHeaderId.innerHTML = document.getElementById('renderReaderContent').innerHTML; Email: document.write("");document.write("NetNet"+"@"+"cnbc.com");document.write('');Call: 201-735-iNet (4638)Text Message: Text NETNET followed by your tip to 26221. if (cnbc_DARTFlag=="new") { cnbc_DARTAdCall(300,900,"CNBGE3"); } else { dapMgr.enableACB("USNewsBlogs300x250",false); dapMgr.renderAd("USNewsBlogs300x250","&PG=CNBGE3&AP=&PN=CNBC",300,900); } Current DateTime: 11:30:55 01 Aug 2011LinksList Documentid: 38910464Expiration DateTime: 8/1/2011 11:33:44 AM cnbc_commentCountMapObj.cnbc_commentCountMap_put("", "38910464_1","cnbcCommentsTxt" ); Financial Services Forum President: A Downgrade of the US Will Hurt US Economy cnbc_commentCountMapObj.cnbc_commentCountMap_put("43973507", "38910464_1","cnbcCommentsTxt" ); cnbc_commentCountMapObj.cnbc_commentCountMap_put("43973507", "38910464_1","cnbcCommentsTxt" ); Email of The Week: Is a Dime Really Worth More Than a Nickel? cnbc_commentCountMapObj.cnbc_commentCountMap_put("43972630", "38910464_2","cnbcCommentsTxt" ); cnbc_commentCountMapObj.cnbc_commentCountMap_put("43972630", "38910464_2","cnbcCommentsTxt" ); Obama Actually Won the Debt Ceiling Fight cnbc_commentCountMapObj.cnbc_commentCountMap_put("43970713", "38910464_3","cnbcCommentsTxt" ); cnbc_commentCountMapObj.cnbc_commentCountMap_put("43970713", "38910464_3","cnbcCommentsTxt" ); Was the Budget Deficit Worth the Fight? cnbc_commentCountMapObj.cnbc_commentCountMap_put("43970237", "38910464_4","cnbcCommentsTxt" ); cnbc_commentCountMapObj.cnbc_commentCountMap_put("43970237", "38910464_4","cnbcCommentsTxt" ); It's a Debt Ceiling, Not a Spending Ceiling! cnbc_commentCountMapObj.cnbc_commentCountMap_put("43947999", "38910464_5","cnbcCommentsTxt" ); cnbc_commentCountMapObj.cnbc_commentCountMap_put("43947999", "38910464_5","cnbcCommentsTxt" ); 'Growth Recession' Latest Bad News for Faltering US Economy cnbc_commentCountMapObj.cnbc_commentCountMap_put("43947020", "38910464_6","cnbcCommentsTxt" ); cnbc_commentCountMapObj.cnbc_commentCountMap_put("43947020", "38910464_6","cnbcCommentsTxt" ); What the Banks Made From the Dunkin IPO cnbc_commentCountMapObj.cnbc_commentCountMap_put("43947021", "38910464_7","cnbcCommentsTxt" ); cnbc_commentCountMapObj.cnbc_commentCountMap_put("43947021", "38910464_7","cnbcCommentsTxt" ); Balanced Budget Amendment Hoax cnbc_commentCountMapObj.cnbc_commentCountMap_put("43945755", "38910464_8","cnbcCommentsTxt" ); cnbc_commentCountMapObj.cnbc_commentCountMap_put("43945755", "38910464_8","cnbcCommentsTxt" ); How Social Media is Playing a Pivitol Role in the Debt Ceiling Debate cnbc_commentCountMapObj.cnbc_commentCountMap_put("43942801", "38910464_9","cnbcCommentsTxt" ); cnbc_commentCountMapObj.cnbc_commentCountMap_put("43942801", "38910464_9","cnbcCommentsTxt" ); Washington Is Annoyed at Wall Street's Failure to Panic cnbc_commentCountMapObj.cnbc_commentCountMap_put("43943482", "38910464_10","cnbcCommentsTxt" ); cnbc_commentCountMapObj.cnbc_commentCountMap_put("43943482", "38910464_10","cnbcCommentsTxt" ); Is the Era of Goldman Sachs Over? cnbc_commentCountMapObj.cnbc_commentCountMap_put("43943537", "38910464_11","cnbcCommentsTxt" ); cnbc_commentCountMapObj.cnbc_commentCountMap_put("43943537", "38910464_11","cnbcCommentsTxt" ); Best Summer Job. Ever. cnbc_commentCountMapObj.cnbc_commentCountMap_put("43943062", "38910464_12","cnbcCommentsTxt" ); cnbc_commentCountMapObj.cnbc_commentCountMap_put("43943062", "38910464_12","cnbcCommentsTxt" ); This GDP Number Is Really, Really Bad cnbc_commentCountMapObj.cnbc_commentCountMap_put("43942781", "38910464_13","cnbcCommentsTxt" ); cnbc_commentCountMapObj.cnbc_commentCountMap_put("43942781", "38910464_13","cnbcCommentsTxt" ); Gridlock? Check. cnbc_commentCountMapObj.cnbc_commentCountMap_put("43930430", "38910464_14","cnbcCommentsTxt" ); cnbc_commentCountMapObj.cnbc_commentCountMap_put("43930430", "38910464_14","cnbcCommentsTxt" ); The Obama Administration's Credibility Gap cnbc_commentCountMapObj.cnbc_commentCountMap_put("43931692", "38910464_15","cnbcCommentsTxt" ); cnbc_commentCountMapObj.cnbc_commentCountMap_put("43931692", "38910464_15","cnbcCommentsTxt" ); The $1 Trillion Coin Solution to the Debt Ceiling cnbc_commentCountMapObj.cnbc_commentCountMap_put("43931430", "38910464_16","cnbcCommentsTxt" ); cnbc_commentCountMapObj.cnbc_commentCountMap_put("43931430", "38910464_16","cnbcCommentsTxt" ); cnbc_commentCountMapObj.cnbc_commentCountMap_put("", "38910464_1","cnbcCommentsTxt" ); Current DateTime: 07:07:06 01 Aug 2011LinksList Documentid: 39085620FacebookTwitterRSSCurrent DateTime: 07:07:06 01 Aug 2011LinksList Documentid: 38852222John Carney

Runs this joint.

Cadie Thompson

Really, really runs this joint.

Kate Kelly

Reports on the major Wall Street firms, trading, and regulation.

Jeff Cox

A staff writer with CNBC.com, covering the gamut of issues affecting the stock market and the economy.

Lori Spechler

A Senior Editor at CNBC, commodity trader in a former life.

Lori Ann LaRocco

A Senior Talent Producer at CNBC.

Nicole Lapin

Runs the graveyard.

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Current DateTime: 11:30:55 01 Aug 2011LinksList Documentid: 38910635Expiration DateTime: 8/1/2011 11:33:35 AM cnbc_commentCountMapObj.cnbc_commentCountMap_put("", "38910635_1","cnbcCommentsTxt" ); After the Debt Deal, Here's What Market Pros Are Doing cnbc_commentCountMapObj.cnbc_commentCountMap_put("43972906", "38910635_1","cnbcCommentsTxt" ); cnbc_commentCountMapObj.cnbc_commentCountMap_put("43972906", "38910635_1","cnbcCommentsTxt" ); Vote Looms for US Lawmakers on Last-Minute Debt Deal cnbc_commentCountMapObj.cnbc_commentCountMap_put("43968679", "38910635_2","cnbcCommentsTxt" ); cnbc_commentCountMapObj.cnbc_commentCountMap_put("43968679", "38910635_2","cnbcCommentsTxt" ); Japan Readying Intervention to Reverse Yen: Nikkei cnbc_commentCountMapObj.cnbc_commentCountMap_put("43965127", "38910635_3","cnbcCommentsTxt" ); cnbc_commentCountMapObj.cnbc_commentCountMap_put("43965127", "38910635_3","cnbcCommentsTxt" ); Debt Deal Will Add to 'New Normal' Slowness: El-Erian cnbc_commentCountMapObj.cnbc_commentCountMap_put("43969202", "38910635_4","cnbcCommentsTxt" ); cnbc_commentCountMapObj.cnbc_commentCountMap_put("43969202", "38910635_4","cnbcCommentsTxt" ); Budget Deal a 'Joke,' Obama Is 'Incompetent': Trump cnbc_commentCountMapObj.cnbc_commentCountMap_put("43969198", "38910635_5","cnbcCommentsTxt" ); cnbc_commentCountMapObj.cnbc_commentCountMap_put("43969198", "38910635_5","cnbcCommentsTxt" ); Moody's: Likely to Back US Rating If Debt Ceiling Raised cnbc_commentCountMapObj.cnbc_commentCountMap_put("43970508", "38910635_6","cnbcCommentsTxt" ); cnbc_commentCountMapObj.cnbc_commentCountMap_put("43970508", "38910635_6","cnbcCommentsTxt" ); What Happens If the US Is Downgraded? cnbc_commentCountMapObj.cnbc_commentCountMap_put("43909706", "38910635_7","cnbcCommentsTxt" ); cnbc_commentCountMapObj.cnbc_commentCountMap_put("43909706", "38910635_7","cnbcCommentsTxt" ); Who Can Save Obama: the Fed or the Tea Party? cnbc_commentCountMapObj.cnbc_commentCountMap_put("43968185", "38910635_8","cnbcCommentsTxt" ); cnbc_commentCountMapObj.cnbc_commentCountMap_put("43968185", "38910635_8","cnbcCommentsTxt" ); 'Band Aid' Deal May Pressure S&P to Slash US Rating cnbc_commentCountMapObj.cnbc_commentCountMap_put("43968268", "38910635_9","cnbcCommentsTxt" ); cnbc_commentCountMapObj.cnbc_commentCountMap_put("43968268", "38910635_9","cnbcCommentsTxt" ); Weather Services Become a Big Business cnbc_commentCountMapObj.cnbc_commentCountMap_put("43672839", "38910635_10","cnbcCommentsTxt" ); cnbc_commentCountMapObj.cnbc_commentCountMap_put("43672839", "38910635_10","cnbcCommentsTxt" ); cnbc_commentCountMapObj.cnbc_commentCountMap_put("", "38910635_1","cnbcCommentsTxt" ); » HelpCurrent DateTime: 07:07:07 01 Aug 2011LinksList Documentid: 38851925Subscribe to this RSS feed

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setDefault('cnbc_textbody');Was the Budget Deficit Worth the Fight? Published: Monday, 1 Aug 2011 | 9:37 AM ET Text Size By: John CarneySenior Editor, CNBC.com window.fbAsyncInit = function() { FB.init({appId: 'your app id', status: true, cookie: true, xfbml: true}); }; (function() { var e = document.createElement('script'); e.async = true; e.src = document.location.protocol + '//connect.facebook.net/en_US/all.js'; document.getElementById('fb-root').appendChild(e); }()); var sUrl = window.location; var str = ' Read Full Article »