Posted on 08/25/2017 12:37:52 PM PDT by Oldeconomybuyer
U.S. Treasury Secretary Steven Mnuchin said on Friday the nation’s debt ceiling will be raised in September and that after talks with congressional leaders from both parties everyone is “on the same page.”
“My strong preference is that we have a clean debt ceiling (increase), but the most important issue is the debt ceiling will be raised in September,” Mnuchin told reporters at the White House, indicating an interest in legislation that did not stray into unrelated territory.
“I have had discussions with the leaders in both parties in the House and Senate and we are all on the same page,” he added. “The government intends to pay its debts and the debt ceiling will be raised.”
(Excerpt) Read more at reuters.com ...
IMO this is the force that drives a long term devaluation of the dollar.
The M4 monetary base includes T-bills, and raising the debt ceiling means increasing that number.
Government spending continues apace — under both parties.
Just get rid of the Debt Ceiling altogether.
Just another issue the Rats use to Grandstand and accuse the Republicans of wanting to starve all those “non-essential” Federal Employees who are living Paycheck to Paycheck and Hand to Mouth.
Who do they think they’re fooling?
Of course they will. The country is basically painted into a corner.
The only question is when the Day of Reckoning comes; for it is surely coming.
The dollar got just OBLITERATED today. I mean, stabbed.
This is the result of an unbacked, fiat, debt-based currency, courtesy of the Federal Reserve.
I think it will just be the continued long term erosion of the dollar rather than any day of reckoning event. The value of savings and the buying power of the dollar will diminish, but at a slower pace than during the inflation of the ‘70s.
“This is the result of an unbacked, fiat, debt-based currency, courtesy of the Federal Reserve.”
Nice try, but it was Nixon and Congress that got rid of the last vestiges of the gold standard. The Federal Reserve has no say in whether or not we operate with a gold standard.
That would be the best scenario. 2008 really did a lot of us in.
for the first time in my life I have cash and wonder why, is it worth saving any more? No return from bonds, stock market is nuts to get in now.
Beware of bubbles.
I spotted that one early enough, probably because Orange County was pretty much where subprime lending started and I knew some of the culprits. It did turn out to be way bigger than I suspected, I had no idea that it would be global.
We could be in a real estate bubble in LA/OC again, driven by foreign investors is my guess. But this time it should be localized unlike 2008.
We have had extremely low interest rates since 2001. The War on Savers. Some may live long enough to see their savings rewarded. If we live to 100 or so.
Raising debt ceiling means nothing meaningful has been cut and likely more for 0bamacare.
Same boss as the old boss. Listen to how they talk and the words they use such as “clean” and being on the “same page”. They actually think it’s THEIR money!These crooks are sticking it to our children while these A-holes will be dead when the note comes due.
I’m just an old lady who ran a house and raised the family and paid my bills.
Would someone PLEASE explain to me the purpose of raising a debt ceiling???????????????????
Is it to go deeper in debt?
Makes no sense to me.
.
Deeper in debt to some other country.
Madness.
.
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