Posted on 08/11/2009 10:57:42 AM PDT by Michael Eden
"It is critically important that Congress act before the limit is reached so that citizens and investors here and around the world can remain confident that the United States will always meet its obligations," Geithner said.
Oh, thank God! Our leaders have finally - FINALLY! - recognized the critical need to bring in some semblance of fiscal sanity to our federal government. Treasury Secretary Geithner is at last demanding that Congress put its clown-shoe-clad foot down and insist that we finally begin coming to grips with our $11.6 trillion debt.
I take it all back. Everything I said about these Democrats. They're not really stupid. They're not really insane. They're not spending us into bankruptcy.
What's that? What's that, you say? Turbo Tax Tim is actually asking Congress to RAISE our debt ceiling just so we can keep up the reckless borrowing without hitting any common-sense roadblocks? You mean he's saying that we should raise our current limit (well, it's really more of a guide than a limit) of $12.1 trillion because we're spending so damn fast we're going to hit our fragile little skulls on the ceiling?
Why would he do something like that? I mean, doesn't he know that Barack Obama repeatedly promised a net spending cut if elected? Doesn't he know that Obama said, "Well, we are out of money now" when he was asked, "At what point are we going to run out of money?" We don't need to increase our debt ceiling; Obama assured us we'd be able to lower it.
What's your reasoning for raising the debt ceiling, Mr. Treasury Secretary?
WASHINGTON (Reuters) - U.S. Treasury Secretary Timothy Geithner formally requested that Congress raise the $12.1 trillion statutory debt limit on Friday, saying that it could be breached as early as mid-October.Whoa, WHOA, WHOA!!!??? What are you SAYING, Turbo Tax Tim? Are you actually suggesting that if we increase our debt ceiling so we can keep spending and spending and spending more hundreds of billions and trillions of dollars that you think our "partners" here and abroad will "remain confident"? Are you serious?"It is critically important that Congress act before the limit is reached so that citizens and investors here and around the world can remain confident that the United States will always meet its obligations," Geithner said in a letter to Senate Majority Leader Harry Reid that was obtained by Reuters.
A Treasury spokeswoman declined to comment on the letter.
What on earth is wrong with your brain?
That reminds me of the Vice President's lunacy when he said - and I quote - "we have to go spend money to keep from going bankrupt."
You're not exactly understanding our "partners" right, Turbo Tax Tim. I guess someone is going to have to translate for you. As the Associated Press reported, "China's premier didn't say it in so many words, but the implied warning to Washington was blunt: Don't devalue the dollar through reckless spending." And the Chinese have repeatedly warned us not to start "printing money." So when you say something truly stupid like, "Increasing our debt ceiling will give our partners confidence that we will be able to meet our obligations," what you are REALLY saying is, "Lord help me, I'm just not that bright."
The budget deficit is right on tract to exceed $1.8 trillion - four times 2008’s record $455 billion deficit (you know, when the Democrats had the whale-sized balls to complain over Bush's fiscal irresponsibility).
Okay. So what's the Democrat plan? You're going to WHAT??? You mean to tell me that after spending like drunken sailors on speed that you're going to buy EIGHT FANCY PRIVATE JETS AT A COST OF MORE THAN HALF A BILLION DOLLARS??? After you just got through demonizing and demagoguing the bejeezus out of auto company CEOs for daring to fly private jets?
We don't have any more money. But if shame, demogoguery, and stupidity were currency, we would be rich beyond our wildest dreams under Barack Obama, Nancy Pelosi, Harry Reid, and the Democrat Party.
These yahoos need to get back to basics:
A kitchen table, a notepad, a pencil and a calculator!
Once they do this, they MIGHT figure out that the spending HAS to stop.
More government spending, more government borrowing, more government money printing, more government tax increases, more anti business anti capitalism anti success anti profitability all add up to one thing: anti Americanism. And while these people in government power and control call every day Americans anti American when it is the people in government power who are truly the Anti Americans.
Independents will point out Republicans spent like crazy, too. And, yeah they did, but not even in the UNIVERSE of THIS CRAZY.
Right now, they are the only ones who are willing and able to stop this. Because there AREN’T any independents in office to do it - and there won’t be anytime soon.
This spending is like cancer. There more we do, the sicker we get. And there is absolutely no recognition that we are heading over a cliff.
The politicians who are engaging in this insane spending do not love this country. They only care about themselves and their agendas. They think that no matter how recklessly or stupidly or selfishly they behave, this country will just keep chugging on and on forever. And the only time they talk about something being “broken,” it’s only as an excuse to spend even MORE to “fix it.”
Some compare our sky-high and growing debt-to-GDP ratio and say it was higher during the WWII era.
What they fail to see is that during the WWII era we owed the debt to OURSELVES and not to China. It was Americans - who actually saved money back then - who bought the debt.
They fail to see that during the WWII era we were the most productive industrial power the world had ever seen. And right now our industry is going bankrupt.
They fail to see that back then our GDP actually measured PRODUCT, as in PRODUCTION. Right now, by contrast, fully 70% of what is counted as “GDP” is actually consumer SPENDING.
You cannot SPEND your way out of debt; you can only PRODUCE your way out of debt.
And as we careen wildly into the realm of a banana republic, we no longer have the means to produce squat in comparison with debts our grandchildren’s grandchildren will never be able to hope to repay.
The national debt when Obama took office on January 20 was $10,626,877,048,913.08. On August 7 it was $11,658,212,708,636.47.
It is critically important that Congress act before the limit is reached so that citizens and investors here and around the world can remain confident that the United States will always meet its obligations,” Geithner said
So this man thinks that confidence is gained by increasing the ceiling on the amount of unsecured debt that you are never ever going to pay back
A trillion dollars in six months? Not bad work - for somebody trying to implode our country.
We heard about Obama’s beer after engaging in Louis Gates’ racist tirade at a white police officer.
But I wonder: did Obama say, “Now, it’s Miller time” after finding out that he’d spent a trillion dollars?
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