Skip to comments.It's official: U.S. hits debt ceiling
Posted on 12/31/2012 3:53:16 PM PST by quesney
It's official: U.S. debt will reach its legal borrowing limit on Monday, giving Congress about two months before it must raise the debt ceiling or risk causing the government to default on its bills and financial obligations.
"I can confirm we will reach the statutory debt limit today, Dec. 31," a Treasury Department official said.
(Excerpt) Read more at money.cnn.com ...
Okay, if we are at a debt LIMIT or CEILING, why do they have two more months to deal with it? I’m getting totally lost on this.
No, first we play a bit of soccer with the ice before the panic starts to set in. You're getting ahead of yourself. Singing and rearranging the deck chairs comes a bit later.
Maybe we should drop an uncooked ostrich egg instead?
Watch TurboTax Timmy hold a bond auction anyway. Anybody stupid enough to buy them should not be paid a dime on them, as they would be an accessory to a crime.
Just the tip of the iceberg. Add up ALL unfunded liabilities from all levels of government and the number is closer to 140 TRILLION, a number so large as to be comical. Not enough money on the planet to make a dent in that.
Yawn. Getting all excited about hitting the debt ceiling is SO 2002!
We remind the media that Barry said he cut spending by $1T in 2011, so we can’t be anywhere near the debt ceiling...they must be mistaken...
What bills, what obligations???
Where is the budget??
Tell the Purchasing Managers to take January as paid vacay
Stop issueing purchase orders
Everyone else uses their vacay and sick days in Qtr 1.
e rest of
Time to start putting padlocks on some government buildings. I propose we begin with the Departments of Agriculture, Energy, and Education.
It’s okay - they’ll take out new credit cards and raise our taxes - just like they always do. :D
Works for me. Unfortunately, we're dealing with Republicans here. They will always find a way to snatch defeat out of the jaws of victory.
If Republicans do nothing at all, then we automatically get $1.1 trillion in spending cuts for this fiscal year. But unfortunately again, we're dealing with Republicans here.
We now have “Clinton era” tax rates
Pay the SS to Seniors, it was their money put in a trust.
0bama should now be flush with cash. He can prioritize all other spending
When the ball hits the bottom we can all yell,”We’re insolvent,we’re insolvent!”
And then nothing happened. Because just like all the other debt ceiling dramas it’s all a play. The debt ceiling has no meaning, it’s just there so they can posture and point fingers while not bothering to pass a budget.
We need a plan to sell the democrats, President Buckwheat, his supporters and RINOs into slavery to China and Japan to work off the debt they created. I figure we can spare about 50 million leftists and their useful idiots.
How many tramp freighters do we need to sail them to the magic, gun-free, politically correct ChiComm kingdom?
Whatever the number, it will create lots of jobs.
Semper fi and in hoc signo vinces, obuma ratface.
Let's get real and stop trying to balance this stinking, bloated, out of control, monster government on the backs of the remaining suffering taxpayers, Medicare, and the Pentagon alone. Everyone should feel the pain. Perhaps then we will get some genuine solutions - or at least we won't get deeper in debt!
"Pain"? Right. EVERYONE in this country should feel it - including the moochers and looters! Right now they have a free ride.
I gotta say that is a very reasonable solution to a very complex problem.
An Old Man
Stop the lying. There is no risk of default. Pay the debt obligations first, as required by the Constitution, then adjust the rest of the budget.
Here is the deal that the Republicans should insist on:
1) Agree to raise the debt for 2013 by $500 billion in exchange for a budget matching this deficit.
2) For 2014 raise it an additional $250 billion.
3) For 2015 raise it an additional $100 billion.
4) For 2016 raise it an addition $50 billion.
5) For 2017 raise it an addition $25 billion.
6) For 2018 no more raises in the debt limit.
7) All raises contingent on the passage of an annual budget with a deficit limited to the raise in the debt limit and without any new taxes. Not negotiable; no budget no raise.
The debt limit is the trump card for the Republicans if they have the courage to play it.
Of course they won’t STOP spending....they can tax and tax and tax and tax, but it won’t do squat to bring in revenue or pay down the debt.
Something tells me more and more, it’s gonna take physically shuttering these a-clowns to get them to stop. They are just plain evil....and their base is clueless.
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