Obama to ask for debt limit hike: Treasury official

Reuters ^ | 12-27-2011 | Margaret Chadbourn

[cake_crumb]

"The agreement calls for up to $2.4 trillion in savings over the next decade, raises the debt ceiling through the end of 2012 . . ."

The August hike wasn't the first debt ceiling hike he demanded and got, and I believe he's lookin for another hike...

[Hoodat]

The bottom line is that the August hike was supposed to get us through until Feb 2013. Time wise, we are only 27% of the way there, but have already gone through 50% of the limit.

[cake_crumb]

"say I owe the bank 50 grand and borrow another 10 grand then in liberal logic my debt decreases."

Actually, according to liberal logic, as long as you use a portion of the 10 grand in debt cieling increase to "pay your bills", your spending is perfectly responsible.

[TheWriterTX]

It's happening now; quiet inflation, through things that the FedGov conveniently no longer measures.

Prime example: FOOD.