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Getbig Main Boards => Politics and Political Issues Board => Topic started by: Bindare_Dundat on December 27, 2011, 09:08:26 AM
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Out of control.
WASHINGTON (Reuters) - The White House plans to ask Congress by the end of the week for an increase in the government's debt ceiling to allow the United States to pay its bills on time, according to a senior Treasury Department official on Tuesday.
The approval is expected to go through without a challenge, given that Congress is in recess until later in January and the request is in line with an agreement to keep the U.S. government funded into 2013.
The debt is projected to fall within $100 billion of the current cap by December 30, when the United States has $82 billion in interest on its debt and payments such as Social Security coming due. President Barack Obama is expected to ask for authority to increase the borrowing limit by $1.2 trillion, part of the spending authority that was negotiated between Congress and the White House this summer.
Under the agreement struck in August during the showdown over the government's debt limit, the cap is automatically raised unless Congress votes to block the debt-ceiling extension. Lawmakers have 15 days within receiving the request to vote, which is largely symbolic because the president can veto it and Congress would be unlikely to muster the two-thirds majority to override it. Moreover, the U.S. House of Representatives also is in recess until January 17.
The deal called for raising the debt ceiling by $2.1 trillion to serve the nation's borrowing needs into 2013 and also included mandatory cuts to the federal budget deficit. Since then, the extension has been increased twice by a total of $900 billion.
The debt limit currently stands at $15.194 trillion and would increase to $16.394 trillion with the request.
(Reporting By Margaret Chadbourn; Editing by Chizu Nomiyama)
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what's the big deal
they did it like 8 times under Bush and 17 under Reagan
and we still need to pay the interest on the debut accumulated by both of them
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This guy just can't stop spending money we don't have. He clearly has no idea whatsoever as to what he's doing.
Must be gearing up to shell out hundreds of billions more to his cronies again.
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This guy just can't stop spending money we don't have. He clearly has no idea whatsoever as to what he's doing.
Must be gearing up to shell out hundreds of billions more to his cronies again.
No shit man
He should just refuse to make interest payments on all that debt that was racked up by Reagan and Bush
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This guy is completely out of control. He's made Bush and co. look like amateurs when it comes to spending.
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This guy is completely out of control. He's made Bush and co. look like amateurs when it comes to spending.
that's what happens when you have to keep paying on all the debt accumulated by your predecessors (mostly Republican)
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WTF! ! ! Again so soon?
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WTF! ! ! Again so soon?
Ridiculous, isn't it?
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No shit man
He should just refuse to make interest payments on all that debt that was racked up by Reagan and Bush
Unreal. Hey straw - lets say Romney wins next year - and he inherits the added 5 trillion or more in debt racked up by Obama - will you be ok with him blaming Obama for three years while he piles on as well?
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Unreal. Hey straw - lets say Romney wins next year - and he inherits the added 5 trillion or more in debt racked up by Obama - will you be ok with him blaming Obama for three years while he piles on as well?
I'm OK with blaming Obama for only the stuff that he added and blaming other POTUS's (and congresses) for their share.
Of course I would exclude the stimulus funds (both spending and tax cuts) since Obama wouldn't have had to do that if he wasn't handed such a pile of flaming shit from Bush and the Republican Congress
It's too bad that Obama didn't follow Clinton. If that were the case he would have been handed a functioning plan to pay down the debt by the end of 2010.
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I'm OK with blaming Obama for only the stuff that he added and blamin other POTUS's (and congresses) for their share.
Of course I would exclude the stimulus funds (both spending and tax cuts) since Obama wouldn't have had to do that if he wasn't handed such a pile of flaming shit from Bush and the Republican Congress
It's too bad that Obama didn't follow Clinton. If that were the case he would have been handed a functioning plan to pay down the debt by the end of 2010.
Really? Didnt pelosi and Reid take over in 2007? What did they do for 2 years?
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Really? Didnt pelosi and Reid take over in 2007? What did they do for 2 years?
All the spending and other disastrous policies had already gone into effect
you know that
right?
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All the spending and other disastrous policies had already gone into effect
you know that
right?
So they did nothing to curtail anything correct?
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So they did nothing to curtail anything correct?
what do you suggest that should have done that they did not do
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what do you suggest that should have done that they did not do
LOL!!!! Are you joking? Seriously Straw - you really provide endless laughs.
How about cutting up the credit card? how about cutting spending? How about doing something productive?
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LOL!!!! Are you joking? Seriously Straw - you really provide endless laughs.
How about cutting up the credit card? how about cutting spending? How about doing something productive?
give some specific examples of what you would have expected them to cut
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give some specific examples of what you would have expected them to cut
Everything across the damn board. What part of broke do you leftists not understand?
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Everything across the damn board. What part of broke do you leftists not understand?
so you think that Pelosi and Reid could have just cut everything across the board and Repubs in Congress and Bush would have gone along with that?
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so you think that Pelosi and Reid could have just cut everything across the board and Repubs in Congress and Bush would have gone along with that?
You force the issue like Newt did in 1994-1995.
Piglosi and Reid just piled on debt and chaos and enabled more Bush bullshit. Remember - it was that fish smelling twat pelosi who rammed TARP through the house and called the GOP house members "unpatriotic" for not supporting it. Remember?
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You force the issue like Newt did in 1994-1995.
Piglosi and Reid just piled on debt and chaos and enabled more Bush bullshit. Remember - it was that fish smelling twat pelosi who rammed TARP through the house and called the GOP house members "unpatriotic" for not supporting it. Remember?
Yeah, that worked out great for Newton ....... remember
I guess Pelosi and Reid could have reversed the Bush Tax Cuts, Medicare Prescription Drug Legislation and immediately stopped funding the wars. They could have easily done that all by themselves so it's must be there fault that we still have to pay for these things.
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You force the issue like Newt did in 1994-1995.
Piglosi and Reid just piled on debt and chaos and enabled more Bush bullshit. Remember - it was that fish smelling twat pelosi who rammed TARP through the house and called the GOP house members "unpatriotic" for not supporting it. Remember?
btw - the original TARP plan was only 2 pages long, gave Paulsen unlimited power, no oversight and immunity from prosecution. That was the plan that Republicans wanted
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Yeah, that worked out great for Newton ....... remember
I guess Pelosi and Reid could have reversed the Bush Tax Cuts, Medicare Prescription Drug Legislation and immediately stopped funding the wars. They could have easily done that all by themselves so it's must be there fault that we still have to pay for these things.
GOP controlled the congress until 2006 correct?
Again - ZERO leadership by any of these idiots. Obama/Bush/Pelosi/Reid/McConnell/McLame/Schumer/Baucus/ et al - a bunch of cowards and failures.
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btw - the original TARP plan was only 2 pages long, gave Paulsen unlimited power, no oversight and immunity from prosecution. That was the plan that Republicans wanted
F A L S E
That was the plan - Bush, Paulson, Geithner, Bernake, Pelosi, Reid wanted.
The House GOP and a few demos in the house voted it down remember?
Geithner was the guy who actually drafted TARP in case you wondered and obama was the guy who flew in to DC to support it as it was.
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GOP controlled the congress until 2006 correct?
Again - ZERO leadership by any of these idiots. Obama/Bush/Pelosi/Reid/McConnell/McLame/Schumer/Baucus/ et al - a bunch of cowards and failures.
dude - you're clueless on the actual mechanics and politics involved in getting stuff done in Washington
you seem to think you can just show up and be an mad, angry asshole and do whatever you want
I just dont' understand why Reid and Pelosi couldn't have reversed all the Republican legislatin from the prior 6 years.
It should have been a piece of cake
They should have also hit the reset button on Iraq and just started the game over again or even better not played at all
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F A L S E
That was the plan - Bush, Paulson, Geithner, Bernake, Pelosi, Reid wanted.
The House GOP and a few demos in the house voted it down remember?
Geithner was the guy who actually drafted TARP in case you wondered and obama was the guy who flew in to DC to support it as it was.
Here is the text of the original TARP Plan
this was Paulsons baby and he was the one trying to convince Congress to pass it and then just leave him alone
http://www.nytimes.com/2008/09/21/business/21draftcnd.html
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what's the big deal
they did it like 8 times under Bush and 17 under Reagan
that's just nonsense
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333 - maybe you've forgotten Paulson literally on his knees begging for support from the Dems
Thursday, in the Roosevelt Room after the session, the Treasury secretary, Henry M. Paulson Jr., literally bent down on one knee as he pleaded with Nancy Pelosi, the House Speaker, not to blow it up by withdrawing her partys support for the package over what Ms. Pelosi derided as a Republican betrayal
http://rawstory.com/news/2008/Paulson_kneels_before_Pelosi_begs_for_0926.html
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333 - maybe you've forgotten Paulson literally on his knees begging for support from the Dems
http://rawstory.com/news/2008/Paulson_kneels_before_Pelosi_begs_for_0926.html
Yes i do remember that vivdly and remember his right hand man Geithner was the guy who actually wrote it up.
Again - Obama = Bush 3rd Term
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Yes i do remember that vivdly and remember his right hand man Geithner was the guy who actually wrote it up.
Again - Obama = Bush 3rd Term
I thought Obama was a secret Muslim commie intent on collapsing the nation
are you now saying Bush was a secret Muslim commie too (granted he did seem to be intent to collapse the nation so I'll concede that one to you)
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I thought Obama was a secret Muslim commie intent on collapsing the nation
are you now saying Bush was a secret Muslim commie too (granted he did seem to be intent to collapse the nation so I'll concede that one to you)
Bush was a complete disaster and NWO shill.
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Bush was a complete disaster and NWO shill.
but what was his motivation to collapse the nation
was it revenge for his father or some other similar nonsense?
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but what was his motivation to collapse the nation
was it revenge for his father or some other similar nonsense?
Both were NWO types and beholden to other interests. Same as Obama.
Dubai Ports, Amnesty for illegals, etc
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Both were NWO types and beholden to other interests. Same as Obama.
Dubai Ports, Amnesty for illegals, etc
but why did he want to collapse the nation
what was in it for him?
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We are screwed. F Obama and Boehner and these inflationists!
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http://www.reuters.com/article/comments/idUSTRE7BQ0KU20111227
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America Maxes Out Its Credit Card Again - Treasury To Raise Debt Limit By Another $1.2 Trillion On December 30
Submitted by Tyler Durden on 12/27/2011 10:22 -0500
Consumer Confidence Debt Ceiling Gross Domestic Product
You didn't think US consumer confidence could be bought for free now did you?
U.S. TREASURY SAYS DEBT LIMIT TO BE RAISED BY $1.2 TRILLION
U.S. DEBT TO BE $100 BLN WITHIN LIMIT ON DEC. 30, TREASURY SAYS
STEPS FOR INCREASING DEBT LIMIT UNDER 2011 BUDGET CONTROL ACT
And the piece de resistance that 100% debt to GDP brings:
OBAMA ON DEC. 30 LIKELY TO ASK CONGRESS TO RAISE DEBT LIMIT
Just as we thought the circus was over if only for a few weeks. Also, this means that in a few days, the US debt ceiling will be raised from $15.194 trillion to $16.394 trillion. As a reminder, US GDP was just revised down to $15.176 trillion.
Average:
5
Your rating: None Average: 5 (7 votes)
http://www.zerohedge.com/news/us-hits-credit-ceiling-again-treasury-raise-debt-limit-another-12-trillion-december-30
Obama is an immoral monster and a thief. He is robbing and looting this nation blind.
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America Maxes Out Its Credit Card Again - Treasury To Raise Debt Limit By Another $1.2 Trillion On December 30
Submitted by Tyler Durden on 12/27/2011 10:22 -0500
Consumer Confidence Debt Ceiling Gross Domestic Product
You didn't think US consumer confidence could be bought for free now did you?
U.S. TREASURY SAYS DEBT LIMIT TO BE RAISED BY $1.2 TRILLION
U.S. DEBT TO BE $100 BLN WITHIN LIMIT ON DEC. 30, TREASURY SAYS
STEPS FOR INCREASING DEBT LIMIT UNDER 2011 BUDGET CONTROL ACT
And the piece de resistance that 100% debt to GDP brings:
OBAMA ON DEC. 30 LIKELY TO ASK CONGRESS TO RAISE DEBT LIMIT
Just as we thought the circus was over if only for a few weeks. Also, this means that in a few days, the US debt ceiling will be raised from $15.194 trillion to $16.394 trillion. As a reminder, US GDP was just revised down to $15.176 trillion.
Average:
5
Your rating: None Average: 5 (7 votes)
http://www.zerohedge.com/news/us-hits-credit-ceiling-again-treasury-raise-debt-limit-another-12-trillion-december-30
Obama is an immoral monster and a thief. He is robbing and looting this nation blind.
interesting. That sounds a lot like you too