Starbucks awkwardly takes sides in the #shutdown
This post Starbucks awkwardly takes sides in the #shutdown originally appeared on Truth About Bills
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Clever references to Beatles lyrics aside, it seems that Starbucks is making an attempt to be bipartisan here, e.g., the third item on their petition, “Pass a bipartisan and comprehensive long-term budget deal by the end of the year,” but they don’t completely succeed, especially regarding the second item, “Pay our debts on time to avoid another financial crisis.”
http://www.washingtonpost.com/blogs/post-politics-live/liveblog/live-updates-the-shutdown-4/?hpid=z2#c1e3ada3-dc00-41d8-92cb-327c5c814d82
“We believe the government would continue to pay interest and principal on its debt even in the event that the debt limit is not raised, leaving its creditworthiness intact,” the memo says. “The debt limit restricts government expenditures to the amount of its incoming revenues; it does not prohibit the government from servicing its debt. There is no direct connection between the debt limit (actually the exhaustion of the Treasury’s extraordinary measures to raise funds) and a default…
“The budget deficit was considerably larger in 2011 than it is currently, so the magnitude of the necessary spending cuts needed after 17 October is lower now than it was then,” the memo says.
Starbucks is playing a risky game wading into such hotly debated political issues, and by parroting Obama’s talking point that the debt ceiling deadline poses an economic threat to America, they’ve failed in their attempt to be bipartisan. What do you think?
Excerpt from:
Starbucks awkwardly takes sides in the #shutdown
This post Starbucks awkwardly takes sides in the #shutdown originally appeared on Truth About Bills
Source: http://truthaboutbills.com/starbucks-awkwardly-takes-sides-in-the-shutdown/?utm_source=rss&utm_medium=rss&utm_campaign=starbucks-awkwardly-takes-sides-in-the-shutdown
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