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It's official: U.S. hits debt ceiling
CNN ^ | CNN

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 ...


TOPICS: Breaking News; Business/Economy; Government
KEYWORDS: debtceiling; debtlimit
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In Obamaland, when it rains, it floods. Every day brings a new piece of garbage from these people.

The US government operates like that of some African banana republic, with the contempt of at least half of its people, like some Third World crap country.

1 posted on 12/31/2012 3:53:19 PM PST by quesney
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To: quesney

Do we cheer? Start singing Nearer My G-d To Thee? Start rearranging the chairs on deck?


2 posted on 12/31/2012 3:57:15 PM PST by Eleutheria5 (End the occupation. Annex today.)
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To: quesney

Maybe when the show the ball-drop tonight they should split-screen the debt “clock”...


3 posted on 12/31/2012 3:58:26 PM PST by mikrofon (?) Happy New Year 2013 (?)
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To: mikrofon

Two long DC Kabuki Dances (fiscal cliff and coming debt limit)
are two more than I can stand.


4 posted on 12/31/2012 4:02:54 PM PST by tennmountainman
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To: quesney

It’s Bush’s fault!


5 posted on 12/31/2012 4:06:40 PM PST by Obama_Is_Sabotaging_America (IMPEACH OBAMA)
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Comment #6 Removed by Moderator

To: quesney

So what —


7 posted on 12/31/2012 4:10:37 PM PST by Uncle Chip
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To: MadMax, the Grinning Reaper

Also let charities know that you may not be able to contribute any more....

A couple of days before Christmas one of the local police benefit funds called me wanting a donation for Christmas gifts “for the hungry and needy”. He listened to my explanation as to why I wasn’t donating for about two minutes and then slammed the phone in my ear. I have just started writing “Charity begins at my home first” and sending everything back I receive in the mail. I did donate to the Salvation Army, but certainly not as much as in the past.

One of my friends gave me a plaque for Christmas that says, “Who in their right mind would throw shit at a fan?” Thought it was pretty funny.


8 posted on 12/31/2012 4:16:04 PM PST by Grams A (The Sun will rise in the East in the morning and God is still on his throne.)
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To: quesney

Mayans fault!


9 posted on 12/31/2012 4:16:23 PM PST by VanDeKoik
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To: quesney

The national debt is now so large, it would take, per household, a tax increase the size and duration of a mortgage to pay off....if the borrowing were to stop immediately.


10 posted on 12/31/2012 4:17:57 PM PST by SENTINEL (I lie, I cheat, I steal, I communize, I sacrifice unborn babies, I'm Harry Reid and I'm a mormon)
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To: quesney
Say, I have a novel idea.

How about not extending that debt authority. Instead, spend only the money which comes in to the Treasury. If that means a 33% immediate cut than do it for every agency, program, salary, Social Security, Medicare, Medicaid, etc. Just make it apply equally to everyone. No exceptions.

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.

11 posted on 12/31/2012 4:17:57 PM PST by Gritty (This election represents the last exit ramp before the death spiral - Mark Steyn)
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To: quesney

The only way to restrain the Spender-in-Chief and his accomplices in Congress is NOT to increase the debt limit. Everyone needs to feel the pain now, including the low-information-voters.


12 posted on 12/31/2012 4:19:57 PM PST by Hotlanta Mike ("Governing a great nation is like cooking a small fish - too much handling will spoil it." Lao Tzu)
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To: Eleutheria5
Do we cheer? Start singing Nearer My G-d To Thee? Start rearranging the chairs on deck?

Don't worry. Our crack leaders inside the beltway will find ways to kick the can down the road yet again...


13 posted on 12/31/2012 4:20:05 PM PST by COBOL2Java (kak-is-toc-ra-cy: Government by the least qualified or most unprincipled citizens. See: GOP-e)
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To: Gritty

—— Let’s get real and stop trying to balance this stinking, bloated, out of control, monster government -——

No one seems to care about truth or reality. It comes from sinful hearts. No easy cure for that.


14 posted on 12/31/2012 4:21:56 PM PST by St_Thomas_Aquinas
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To: COBOL2Java

Goody. I can hardly wait. People are only saying we hit an iceberg. So long as there’s plenty of champagne and good company, we’ll be ok. We can’t really have hit an iceberg. And what if we have? This ship is unsinkable. Everybody thinks so, so it must be true./sarc


15 posted on 12/31/2012 4:23:00 PM PST by Eleutheria5 (End the occupation. Annex today.)
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To: Grams A

“One of my friends gave me a plaque for Christmas that says, “Who in their right mind would throw shit at a fan?” Thought it was pretty funny.”

I love that! My daughter, (who is a graphic designer)designed and made up some bumper stickers for me that say “It’s just too difficult to beat Santa Claus” it it has a pic of Santa Claus with Obama’s face superimposed.


16 posted on 12/31/2012 4:24:17 PM PST by Wisconsinlady (The only thing to stop a bad person with a gun, is a good person with a gun.)
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To: quesney

“”I can confirm we will reach the statutory debt limit today, Dec. 31,”

That’s your debt, Buckwheat, not mine. You created it, you pay it back.


17 posted on 12/31/2012 4:30:49 PM PST by sergeantdave (The FBI has declared war on the Marine Corps)
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To: Obama_Is_Sabotaging_America

It’s Bush’s DE - fault!

Default! Default! Default!


18 posted on 12/31/2012 4:32:13 PM PST by dr_lew
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To: quesney

Oh, dear. How do we avoid going over the spending cliff?

How about cutting (real cuts not “reduced” increases) spending?

How about repealing ObamaCare before it takes $$$ root?

How about shuttering about half of the unconstitutionally bloated federal government? Can’t cut half, then cut 25%?


19 posted on 12/31/2012 4:32:24 PM PST by Jim Robinson (Resistance to tyrants is obedience to God!!)
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To: MadMax, the Grinning Reaper

“Also let charities know that you may not be able to contribute any more. They will get the message and pass it on, believe me.”

DONE! As well as to all the high-end businesses I used to shop at who still email me to “come back! Where have you been!?”

Just sent them all scathing emails;

“Want money? ASK OBAMA FOR IT! Ask the idiots in your organization who voted for Obama for it!”


20 posted on 12/31/2012 4:40:12 PM PST by Yehuda
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To: quesney

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.


21 posted on 12/31/2012 4:48:19 PM PST by Wisconsinlady (The only thing to stop a bad person with a gun, is a good person with a gun.)
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To: Eleutheria5

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.

22 posted on 12/31/2012 5:00:41 PM PST by Jeff Winston
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To: mikrofon

Maybe we should drop an uncooked ostrich egg instead?


23 posted on 12/31/2012 5:02:15 PM PST by Jeff Winston
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To: quesney

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.


24 posted on 12/31/2012 5:06:18 PM PST by Carry_Okie (GunWalker: Arming "a civilian national security force that's just as powerful, just as well funded")
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To: quesney

HAPPY NEW YEAR!!!

25 posted on 12/31/2012 5:07:57 PM PST by Obama_Is_Sabotaging_America (IMPEACH OBAMA)
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To: quesney

"I can't be out of money! I still have checks!"


26 posted on 12/31/2012 5:10:24 PM PST by airborne (MY HEROES DON'T WEAR CAPES. MY HEROES WEAR DOG TAGS ! ! !)
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To: SENTINEL

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.


27 posted on 12/31/2012 5:11:09 PM PST by Kozak (The Republic is dead. I do not owe what we have any loyalty, wealth or sympathy.)
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To: quesney

Yawn. Getting all excited about hitting the debt ceiling is SO 2002!


28 posted on 12/31/2012 5:13:13 PM PST by moodyskeptic (Counter counterculturist)
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To: Eleutheria5

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...


29 posted on 12/31/2012 5:13:23 PM PST by ltc8k6
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To: quesney

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


30 posted on 12/31/2012 5:14:15 PM PST by Steven Tyler
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To: quesney

Time to start putting padlocks on some government buildings. I propose we begin with the Departments of Agriculture, Energy, and Education.


31 posted on 12/31/2012 5:14:47 PM PST by Hoodat ("As for God, His way is perfect" - Psalm 18:30)
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To: quesney

It’s okay - they’ll take out new credit cards and raise our taxes - just like they always do. :D


32 posted on 12/31/2012 5:15:55 PM PST by Tzimisce (The American Revolution began when the British attempted to disarm the Colonists.)
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To: Gritty
How about not extending that debt authority. Instead, spend only the money which comes in to the Treasury.

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.

33 posted on 12/31/2012 5:19:52 PM PST by Hoodat ("As for God, His way is perfect" - Psalm 18:30)
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To: Gritty

We now have “Clinton era” tax rates

Pay the SS to Seniors, it was their money put in a trust.
Pay medicare.

0bama should now be flush with cash. He can prioritize all other spending


34 posted on 12/31/2012 5:22:52 PM PST by Steven Tyler
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To: mikrofon

When the ball hits the bottom we can all yell,”We’re insolvent,we’re insolvent!”


35 posted on 12/31/2012 5:25:02 PM PST by Farmer Dean (stop worrying about what they want to do to you,start thinking about what you want to do to them)
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To: quesney

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.


36 posted on 12/31/2012 5:26:46 PM PST by discostu (I recommend a fifth of Jack and a bottle of Prozac)
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To: quesney

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.


37 posted on 12/31/2012 5:27:34 PM PST by sergeantdave (The FBI has declared war on the Marine Corps)
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To: Gritty
Say, I have a novel idea. How about not extending that debt authority. Instead, spend only the money which comes in to the Treasury. If that means a 33% immediate cut than do it for every agency, program, salary, Social Security, Medicare, Medicaid, etc. Just make it apply equally to everyone. No exceptions.

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.

Gritty

I gotta say that is a very reasonable solution to a very complex problem.

An Old Man

38 posted on 12/31/2012 5:38:21 PM PST by An Old Man
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To: quesney

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.


39 posted on 12/31/2012 5:48:08 PM PST by Petrosius
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To: Jim Robinson

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.


40 posted on 12/31/2012 7:35:53 PM PST by Lucky9teen (Peace is that brief glorious moment in history when everybody stands around reloading.~Thomas Jeffer)
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To: Jim Robinson
I'd cut the military IF AND ONLY IF the cuts were to bloat, pork, and the type of programs which promoted Major Whats-his-face from the Ft. Hood shooting.

In fact, I'd like to cut them *anyway*.

Also, private, unrelated FReepmail.

41 posted on 12/31/2012 7:45:26 PM PST by grey_whiskers (The opinions are solely those of the author and are subject to change without notice.)
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To: Gritty

Social Security is not an entitlement program. It is a Ponzi scheme where we might get part of what we are forced to pay into it.


42 posted on 12/31/2012 8:09:28 PM PST by RedMDer (Those that believe in gun free zones should post gun free zone signs on their property and persons.)
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To: quesney

Cut the funding to all of the freebies to people that do not contribute when they could.


43 posted on 12/31/2012 8:12:54 PM PST by RedMDer (Those that believe in gun free zones should post gun free zone signs on their property and persons.)
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To: Steven Tyler


44 posted on 12/31/2012 8:12:59 PM PST by Lucky9teen (Peace is that brief glorious moment in history when everybody stands around reloading.~Thomas Jeffer)
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To: Wisconsinlady

45 posted on 12/31/2012 8:14:04 PM PST by Lucky9teen (Peace is that brief glorious moment in history when everybody stands around reloading.~Thomas Jeffer)
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To: Lucky9teen
Don't forget the insider deals. Especially the one for John Robberts
46 posted on 12/31/2012 8:16:28 PM PST by combat_boots (The Lion of Judah cometh. Hallelujah. Gloria Patri, Filio et Spiritui Sancto!)
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To: quesney

F THE CEILING
F THE CLIFF
HAPPY NEW YEAR TO U.S.


47 posted on 12/31/2012 9:35:35 PM PST by TomasUSMC ( FIGHT LIKE WW2, FINISH LIKE WW2. FIGHT LIKE NAM, FINISH LIKE NAM)
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To: ltc8k6

I saved a woman from rape once by changing my mind. Same way he saved $1T.


48 posted on 01/01/2013 12:43:31 AM PST by Eleutheria5 (End the occupation. Annex today.)
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To: quesney

Jimmuh Peanut sinned in his heart and Obammy saved in his head.


49 posted on 01/01/2013 9:46:32 AM PST by TurboZamboni (Looting the future to bribe the present)
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To: RedMDer
It is a Ponzi scheme where we might get part of what we are forced to pay into it.

A Ponzi scheme is something you VOLUNTARILY enter into.

S.S. is extracted from you INVOLUNTARILY and with the penalty of prison if you don't hand it over.

Is this a great country or what? What's left of it that is.

50 posted on 01/01/2013 11:28:29 AM PST by unixfox (Abolish Slavery, Repeal The 16th Amendment!)
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