Markets Falter On Debt Ceiling Concerns; Obama Warns Of Coming GOP ‘Default Tax’; Paul Calls Obama An Extremist; The Chinese Want A Global Future With Less American Influence; International Community Asks Congress To Open The Government; And U.S. Looking Like Weimar Republic— Monday Morning News Roundup 10-14-2013

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Here is a collection of some of the stories making the Internet rounds this morning. Click the links for the full stories.

  • U.S. stock markets dropped sharply at the opening bell Monday as worries that Congress will fail to raise the debt ceiling by the Thursday deadline set by the Treasury Department settled in. Source: The Hill…
  • President Barack Obama used his Saturday radio address to press for an end to “this Republican shutdown” and for an increase in the debt limit. Because, Obama said, “[D]amage to America’s sterling credit rating wouldn’t just cause global markets to go haywire; it would become more expensive for everyone in America to borrow money. Students paying for college. Newlyweds buying a home. It would amount to a new tax — a Republican default tax — on every family and business in America.” Source: CNS News… 
  • In a radio interview Sunday, Senator Rand Paul (R-Ky.) fired back at President Obama’s claim that “extreme” Republican lawmakers were holding the Nation for “ransom,” blasting what he, in turn, called Obama’s “extreme positions.” Source: WND…
  • In China, Xinhua, the official government news agency, said that as American politicians continued to flounder over a deal to break the debt ceiling impasse, “it is perhaps a good time for the befuddled world to start considering building a de-Americanised world”. Source: The Telegraph…
  • Leaders at World Bank and International Monetary Fund meetings on Sunday pleaded, warned and cajoled: the United States must raise its debt ceiling and reopen its government or risk “massive disruption the world over,” as Christine Lagarde, the fund’s managing director, put it. Source: The New York Times… 
  • Reneging on its debt obligations would make the U.S. the first major Western government to default since Nazi Germany 80 years ago. That default helped cement Adolf Hitler’s power base following years of political instability as the Weimar Republic struggled with its crushing debts. Source: Bloomberg… 

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