Secretary Geithner Sends Debt Limit Letter to Congress

Treasury Department ^ | December 26, 2012 | Matt Anderson

[Celerity]

Read the PDF that's linked in the letter. This letter states, as I interpret, that some paychecks are going to stop.

Thinly veiled threat ? Ambiguous news that we're about to collapse ?

January 1st ?

[DManA]

This is shocking news. Either receipts are collapsing or spending is spiraling or both.

[kabar]

Not shocking at all. It has been predicted for some time. You can track it month by month and see that it would happen this year or early next year.

[DManA]

Some time that it was going to hit Jan1?

[weston]

Looks like anyone expecting to get a tax refund might be SOL.

[The Mayor]

This crap just will not end, we are screwed here unless something happens very soon.

[rockrr]

This letter states, as I interpret, that some paychecks are going to stop.

Good. The more the merrier.

[Paladin2]

Shut it down.

[kabar]

Yep. You can go to this site and see how the debt has been accumulating day by day. It was $15,226,217,488,652.33 on January 3,2012. As of December 24, 2012 it was $16,337,556,561,533.65.

We have known for some time that we are accumulating debt at over $1 trillion annually since Obama took office. It should come as no surprise that we are hitting the debt limit again after the deal almost two years ago. From press reports:

If approved by Congress, the deal will increase the nation's debt ceiling by at least $2.1 trillion overall while cutting about that much in government spending over the next 10 years, Obama and congressional leaders said. The debt ceiling would not need to be raised again until 2013.

[Hoodat]

Did Geithner explain why it was that he ran out of money three months early? The Aug 2011 debt ceiling deal was supposed to carry us through March 2013. That deal was cut in exchange for $100 billion in spending cuts that never happened. Someone should tell Geithner to pound sand. Maybe he’ll get the hint and begin laying off Treasury Dept employees.

[longhorn too]

“This letter states, as I interpret, that some paychecks are going to stop.
Good. The more the merrier.”

This may mean no pay for our military people!

[Carry_Okie]

Make him sell the bonds heedless of a debt limit, because he will if he thinks he can get away with it. Then outlaw payment on those bonds.

Hell, they may be such collectors' items as to be worth something. :-)

[skinkinthegrass]

HEY! (TAX CHEAT :) TIMMAH...DO Your Own Income Taxes..

[Varsity Flight]

These 08 Bailout Babies, along with their Federal Lifers, aren’t going to stop until everyone else pays but themselves. The same MO as Exempting themselves from Extortion Care. Stalkers of everyone elses assets (including paid in social security) but their own.

[SkyPilot]

Dear Weasel Tax Cheat,

Fine, we will increase the debt limit (yet again). But first, let us remember that you, Pelosi, Reid, and your boss have spent Trillions of dollars in the most irresponsible manner in United States history. "Stimulus 1" was nothing more than political payoff to union goons, environmentalists pagans, and layabout lazies.

Next, reform Entitlements, which are breaking the back of this nation. Instead of spending 67% of every dollar (with 40 cents of THAT dollar borrowed) entitlement spending must be decreased in actual dollars. Moreover, the welfare payment side of entitlements MUST be cut by half, and that includes cutting off the "99ners", millions of phony "Disabled" who are sucking the Social Security system dry, welfare breeders, and illegals who have no right to America's tax dollars in the first place.

Finally, you will stop giving tax "rebates" in the form of the "Earned Income Tax Credit" to millions upon millions of Americans who pay no Federal income tax to begin with. Now.

Sincerely,

The US Congress

[Rich21IE]

ahhhhhhhh, this just gets better and better!

[Red in Blue PA]

Every day is a new disaster!

[Red in Blue PA]

Every day is a new disaster!

[ichabod1]

They’ll get a chit.

[eyeamok]

The answer is simple: Pass a Bill in the House Abolishing the IRS and Obamacare and Attach a Debt Ceiling hike to it. Or JUST SAY NO.