Pelosi Predicts: $2.4 Trillion Added to Federal Credit-Card Limit Will Last Only 18 Months

CNSNews.com ^ | Tuesday, August 02, 2011 | Terence P. Jeffrey

[Dubya-M-DeesWent2SyriaStupid!]

(CNSNews.com) - House Minority Leader Nancy Pelosi (D.-Calif.) is predicting that the $2.4 trillion that Congress has now added to the limit on the federal credit card--by increasing the legal debt limit--will be exhausted by the Treasury in only 18 months.

[FlyVet]

That'll put us near 115% debt/GDP. Only 5% more, and we, too, can be like the PIIGS of Europe.

Japan is getting away with over 200%, so maybe we can blast through the 120% barrier, and go for the gold.

[Vehmgericht]

Why is Obama such a great fund raiser? Give me 3 or 4 trillion dollars to distribute and I will show you a great fund raiser. In spite of all the rhetoric, a large amount of this money will go to the super wealthy. These multimillionaires do not make campaign contributions out of idealism. They expect a material return on their money. The Republicans have just financed their defeat in the next election.

[crosshairs]

She sounds like she is medicated.

Her twitching makes me think Tourettes Syndrome.

[Real Cynic No More]

The nation might be better off if it only lasted until Sept. 1,2012

Actually, if our credit rating goes low enough so that interest costs increase, that - or even sooner - could be the reality. And that, in an election year, would be absolutely fantastic!

[Mouton]

I guess her solution is to double it now.

[Fantasywriter]

She’s suffering from irrational exuberance. At the rate Obama spends it’s unlikely to last till this time next year.

[IamConservative]

Actually, if our credit rating goes low enough so that interest costs increase, that - or even sooner - could be the reality.

Or, if we try to sell a load of T-Bills and there are no buyers. Ben steps in and "buys" them. Etc. We're one big failed treasury auction away from entering the death spiral of inflation and high interest I'm afraid.

[Polybius]

Given 1% growth and the subsequent need for another debt ceiling crisis in June 2012, I predict a bloody fiscal fight just before the elections.

The GOP needs to start shaping the battlefield of the debate RIGHT NOW so that we are not again put into a position where Obama, at the last minute, is using Grandma as a human shield and claiming that she will be be left without income and without medical care unless the GOP averts default by increasing the debt limit yet again.

Since no preparation had been done prior to the last fight, the GOP would have been blamed for the disaster of default because the large majority of Americans would have gotten their talking points from the liberal media.

We have 18 months to preach, day by day by day, that the next crisis crisis that will come in 18 months is the result of the reckless, uncontrolled spending of Barack Obama.

[Dubya-M-DeesWent2SyriaStupid!]

I don’t think even tourettes is an excuse for the words out of her mouth. If this were a non democratic person the media would be all over the STABILITY of Pelosi. It is like she is nuts or in withdrawals. She has no reality.

[Dubya-M-DeesWent2SyriaStupid!]

That is a broken record that is old. Granny being pushed off the cliff in a wheelchair did not work and the GOP merged with the lunacy in a feel good Giffords moment. Even DeMint warned us we were being duped.

[Cheerio]

The $2.4 Trillion is BO’s “walkin’ around money,” to pay off the Democrat base for the 2012 elections, provided so graciously by the GOP stooges. They are too stupid to lead.

I still maintain it is time for a 3rd party - the Tea Party. Most here disagree with 3rd party, but we have shown that even with 85 new Freshmen and a compete takeover of the House, can still NOT stop the RATS. It fails to amuse me that both Bernie Sanders and Joe Lieberman are NOT RATS but yet can caucus with the RATS but when Tea Party candidates are brought up it has to immediately be taken off the table because the GOP would lose. Does anyone honestly believe there would be a Tea Party Rep or Senator that would caucus with the RATS? We have to get started somewhere - why not put Tea Party House members on the ballot as an actual political party?

Complete control of the House and the GOP gave us......
1) a Continuing Resolution with $30 million in savings after making a pledge of $100 BILLION and then bragging about it,......

2) a $2.4 TRILLION dollar 'walking around money' check to Obama while not one penny of actual CUTS, while pledging to not vote for it unless it included at least dollar for dollar of cuts for the increase in debt.

I am done with them - no more votes for GOP candidates - America is on it's final leg. OBOZO COULD HAVE BEEN STOPPED DEAD IN ITS TRACKS.

[Polybius]

That is a broken record that is old. Granny being pushed off the cliff in a wheelchair did not work and the GOP merged with the lunacy in a feel good Giffords moment. Even DeMint warned us we were being duped.

So, let me see if I correctly understand your claim:

"The tactic did not work but the GOP voted Obama $2.4 Trillion so that the GOP could experience a 'feel good' moment"?

For a "feel good" moment?

Are you actually that politically naive?

You really need to wake up, smell the coffee and start paying attention to how nasty, hardball politics is played.

It has absolutely nothing to do with "feel good" moments.

Yes, it was all a sham. Obama could have prioritized spending to pay off creditors and avoid default and paid Social Security and paid the military. ..... If Obama were an ethical and responsible man.

But he is not.

Obama was perfectly willing to use Grandma as a hostage (and even projected that very terminology unto the GOP) and was perfectly willing to terrorize Grandma (and even projected that very terminology unto the GOP).

You need to wake up and realize what power the Left has in America as a result of the liberal media shaping the battlefield of debates. The vast majority of voters are not conservative political junkies watching FOX News or listening to Rush. The vast majority of voters are Sheeple that think what CNN/ABC/CBS/NBC/MSNBC wants them to think because that liberal media far outnumbers the conservative media.

We had months of warning about this crisis but the GOP did nothing to prepare the battlefield. In the end, the only message that was out there was the Democrat message: If the GOP does not cave in to Obama's demand for more Trillions, a Depression will hit, Grandma will have no money for food, Grandma will have no medical care, our troops will not get paid and it would be all the fault of the GOP TERRORISTS.

If the GOP had stood firm, Obama would have pulled the trigger on Grandma and, next moth, every CNN/ABC/CBS/NBC/MSNBC station would be filled with videos of crying Grandmothers saying that they were hungry and afraid because "the GOP terrorists" were holding them "hostage".

Do not doubt for one single minute that Barack Obama is not cynical enough to pull that trigger and do not doubt for one single minute that the CNN/ABC/CBS/NBC/MSNBC liberal media is not cynical enoug to be a willing partner in the Big Lie.

Hate to break the news to you, Dubya, but the strategy DID work.

My position stands.

To overcome the power of the liberal media's Big Lies, you cannot wait until the last minute to start putting your case in front of the vast flock of the American Sheeple. You need to start talking to the Sheeple NOW so that they understand it 18 months from now.

The GOP needs to start preparing the battlefield of the debate RIGHT now for the inevitable showdown that will come in less than 2 years.

[Dubya-M-DeesWent2SyriaStupid!]

It was all a sham but where I think we disagree is that the GOP are on the American people’s side.The Gifford’s moment helped to show a false group hug unity crap. The GOP are not fighting for us. DeMint told us all plans were a sham.

[listenhillary]

The Senate would have needed to also pass the bill. Obama would have needed to sign the bill.

Fracturing the right is the game plan. Get the right so fighting mad at each other they destroy their own. Maybe the 2016 elections we might gain control of what is left.

[lionheart 247365]

She’s only off by eight months ,,, ten months is more likely ,,,, Brewster’s Millions (or trillions in this case ) is being played out in the W/H .

[Dubya-M-DeesWent2SyriaStupid!]

They are sure doing a good job at ticking off the tea party.The tea party just gets stronger and you’re right they count on a GOP/tea party split but damnit why does the GOP make it so easy? Why can’t the GOP do their jobs and stop the insane spending?

[MontaniSemperLiberi]

Most of Japan’s debt is government debt owned by the government. Kind of like our SS lock box. I was walking around with that 200% number in my head also but did some poking around and found it was much less.

[milemark]

Hrmph. If she had her way, it wouldn’t last 18 minutes.

[milemark]

"She sounds like she is medicated."

Self medicated: "Maker's Mark whiskey, Courvoisier cognac, Johnny Walker Red scotch, Grey Goose vodka, E&J brandy, Bailey's Irish Crème, Bacardi Light rum, Jim Beam whiskey, Beefeater gin, Dewars scotch, Bombay Sapphire gin, Jack Daniels whiskey … and Corona beer" - http://www.wnd.com/?pageId=123472

[Dubya-M-DeesWent2SyriaStupid!]

But the dems are for the poor people...