[xzins]

When do we hit the spending limit? The White House says we will hit it on Aug 2. Everyone seems to agree that we will hit it on Aug 2.

The good news is that we know how much we are spending....theoretically, anyway. As big as this government is, one wonders how anyone can keep track of a gazillion big and little offices spread around the world and what they are spending.

But, they claim they know, and they claim that it is Aug 2. Maybe it’s actually today they hit 14.2 and maybe it’s 2 weeks from now. I suspect they’re estimating when 14.2 trillion gets hit, that they don’t actually know for certain.

When we do hit it, a law kicks in that says Congress must approve any spending beyond that limit.

Call it the skeptic in me, but I wonder when they started putting spending limits on spending and what they did prior to the requirement of spending limits.

I suspect they just authorized each expenditure individually and gave authority to spend (borrow) that amount of money.

[silverleaf]

We hit the spending “limit” over 6 weeks ago

Geithner used federla law to raid federal/military retirement savings fund (TSP- contributory 401K-type) for over $200 billion since June to keep spending

Thus our debt is not at the $14.3 trillion ceiling, but is now over $14.5 trillion

Timmy promised the federal/military workers he’d just put the cookies back in the cookie jar (with interest) when he got his debt ceiling increase

Now, who knows. “By Law” is meaningless with this bunch

[JPG]

Aug 2nd was a random date chosen by the WH to maximize the great triumph of our Dear Leader in signing a bill and to make his glorious birthday bash celebrations even greater.