NATL WEATHER SERVICE UPGRADES THE TORNADO THAT HIT MOORE, OK ON MON TO AN **

WEATHER SERVICE SAYS THE TORNADO'S PATH WAS 17 MILES LONG, 1.3 MILES WIDE **

SPOX SAYS THE AGENCY UPGRADED THE RATING FROM AN EF-4 BASED ON DAMAGE **

IT'S THE FIRST EF-5 TWISTER TO HIT THE U.S. IN TWO YRS **

LAWMAKERS SAY THE GOVT HAS PLENTY OF FUNDING FOR RECOVERY EFFORTS IN OK **

GOVT HAS MORE THAN $11 BIL IN DISASTER RELIEF FUNDS AND RECOVERY COSTS ARE **

WHITE HOUSE SPOX JAY CARNEY AND TOP LAWMAKERS ON CAPITOL HILL AGREED TUES **

DAMAGE FROM MONDAY'S DEADLY TORNADO IS EXPECTED TO EXCEED THAT OF THE **

THE JOPLIN TWISTER CAUSED SOME $3 BIL IN DAMAGE, INCLUDING $2 BIL IN **

JOPLIN'S EF-5 TORNADO KILLED 158 PEOPLE AND INJURED MORE THAN 1,100 NEARLY **

U.S. OFFICIALS ID FIVE MEN THEY BELIEVE MAY BE BEHIND THE DEADLY 9/11 **

OFFICIALS SAY THEY HAVE ENOUGH EVIDENCE TO JUSTIFY SEIZING THEM BY MILITARY **

HOWEVER, THEY DO NOT HAVE ENOUGH PROOF TO TRY THEM IN A U.S. CIVILIAN COURT **

THE ATTACK LAST SEPT KILLED FOUR AMERICANS, INCLUDING AMB CHRIS STEVENS **

IRS OFFICIAL LOIS LERNER WILL PLEAD THE FIFTH AT A CONGRESSIONAL HEARING ON **

IN A LETTER ADDRESSED TO HOUSE OVERSIGHT CMTE CHMN DARRELL ISSA (R-CA), **

ISSA ALLEGES LERNER HAD PROVIDED FALSE AND MISLEADING INFO TO CONGRESS ON **

LERNER IS THE DIRECTOR OF THE IRS DIVISION THAT HANDLES APPLICATIONS FOR **

JURY BEGINNING DELIBERATIONS IN THE PENALTY PHASE OF THE JODI ARIAS MURDER **

ARIAS ASKED JURORS ON TUES TO GIVE HER LIFE IN PRISON INSTEAD OF THE DEATH **

THE 32-YR-OLD WAS CONVICTED EARLIER THIS MONTH OF FIRST-DEGREE MURDER IN **


 

What do you think? (and am I wrong about this?)

The debt ceiling has been raised to get us thru 2013.

The spending cuts are back ended and will be felt mostly in 2014 (which is obviously one year later than the debt ceiling increase.)

What makes everyone certain that the debt ceiling will not need to be extended in 2014?   Hope ?

If the debt ceiling needs to be extended again in 2014 because the economy is still a wreck, we are going to have to ‘up’ the spending cuts more than what is planned NOW and/or raise taxes more than we anticipate now….or raise the debt ceiling again.  That will really hurt – hurt more than anyone is talking about now.  Currently the expected spending cuts are based on the debt ceiling established today — not a higher one later.

If the economy takes off between now and 2014, all is well since we will not have to then extend the debt ceiling in 2014.

But if the economy remains sluggish (and economists have been forecasting recently a very, very, very slow recovery), we have more problems at a multiplied level.

Of course the above takes America past an election to the advantage of all incumbents in both parties.

What do you think?

And am I wrong?  If so, please post why I am wrong.