This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

FACT CHECK: Slippery Claims On Health Law, Budget

THE FACTS: Raising the debt ceiling is not the same as a consumer merely making monthly payments on existing debt. It's very much like a consumer getting approved for a higher cap on a credit card. It doesn't mean the consumer will necessarily spend more, but it makes higher spending possible.

In the government's case, it has to have a higher credit limit so it can keep borrowing to make necessary payments. Borrowing to pay interest on existing debt as well as the bills is a recipe for deep trouble for consumers. But governments don't â¿¿ and really, can't â¿¿ handle their budgets as typical households do, despite the kitchen-table analogies that politicians in both parties love to make.

___

SEN. TED CRUZ, R-Texas: "Today, the House of Representatives did what Washington pundits only a few weeks ago said was impossible: A strong bipartisan majority voted to defund Obamacare." â¿¿ Statement after the Sept. 20 House vote.

McCARTHY: "That's why today when we acted, it wasn't just a group of Republicans, but it was a bipartisan vote. Let me state that again because I want to make sure you write it correctly. (Laughter in the room). It was a bipartisan vote because we're Americans." â¿¿ At the post-vote House GOP rally Sept. 20.

THE FACTS: Still chuckling.

Bipartisan might be in the eye of the beholder but the vote passing the resolution was far from it.

Only two Democrats voted with the Republican majority, Reps. Mike McIntyre of North Carolina and Jim Matheson of Utah. Only one Republican voted with the Democrats, Virginia Rep. Scott Rigell. The 230-189 vote illustrated bitter partisan divisions, not a harmonious we're-all-Americans moment.

A strong bipartisan vote to do away with the health care law remains impossible.

___

HOUSE MAJORITY LEADER ERIC CANTOR, R-Va.: "We're seeing our economy turn from a full-time job economy into a part-time job economy." â¿¿ Cantor blamed this on "Obamacare" in the House GOP rally after the budget vote.

5 of 6

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 17,712.66 +34.43 0.19%
S&P 500 2,061.02 +4.87 0.24%
NASDAQ 4,891.2190 +27.8570 0.57%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs