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To: whitedog57
Treasury Secretary Jacob Lew warned Congress that uncertainty over the debt limit is stressing financial markets out.

Oct. 10 (Bloomberg) — U.S. Treasury Secretary Jacob J. Lew warned Congress that “uncertainty” over the debt limit is starting to stress financial markets and trying to time an increase to the last minute “could be very dangerous.” Lew was speaking in testimony prepared for a hearing before the Senate Finance Committee today.

debtceilgst

But not the growth rate in debt or entitlements? Obamacare and other entitlements will lead to even more explosive debt growth in the US.

debtprojection7

The US and much of the world has already been experiencing explosive debt in both the public and private sectors. See this link for a chart showing the growth over time.

us debt private matrix_0

1 month repos and reverses are jumping on the possibility of default.

rev1mo

Similarly, 1 month Ted spreads have spiked as well.

tedsp1m

All this makes the initial jobless claims spike look trivial. The 2nd worst print during 2013.

ijc101013

Speaker Boehner is seeking a “kick the can down the road” strategy that Democrats should like. That is, ignore that appalling growth in entitlements and debt and keep hoping nobody notices.

lew_head-in-the-sand

5 posted on 10/10/2013 7:31:12 AM PDT by upchuck (nobamacare must be stopped before it can live down to our expectations.)
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To: upchuck

the sad reality is that runaway entitlement spending is going to bankrupt this country. i think medicare is toast in 2025 or so, and SS in the 2040s. benefits need to be cut, and yes, taxes need to rise


9 posted on 10/10/2013 8:49:30 AM PDT by stonewall_jackson215
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