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Obama to ask for debt limit hike: Treasury official
Reuters ^
| 12-27-2011
| Margaret Chadbourn
Posted on 12/27/2011 8:24:48 AM PST by Hoodat
WASHINGTON (Reuters) - The White House plans to ask Congress for an increase in the debt limit before the end of the week, according to a senior Treasury Department official.
The debt limit is projected to fall within $100 billion of the current cap by December 30. President Barack Obama is expected to ask for additional borrowing authority to increase the limit by $1.2 trillion.
Under the new budget, Congress can only vote to block the debt-ceiling extension with a disapproval resolution. Lawmakers have 15 days within receiving the request to vote down the debt limit increase.
The debt limit currently stands at $15.194 trillion and would increase to $16.394 trillion with the request.
(Excerpt) Read more at news.yahoo.com ...
TOPICS: Breaking News; Business/Economy; Government; News/Current Events
KEYWORDS: broke; debt; debtlimit; deficit; hightreason; inneedosomerestraint; obama; obamanomics; spending; treasury
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Didn't we just do this in August?
1
posted on
12/27/2011 8:24:51 AM PST
by
Hoodat
To: Hoodat
Your statement was my first exact thought. Didn’t they have a war over this?
2
posted on
12/27/2011 8:26:27 AM PST
by
RetiredArmy
(The End of Days draws near. In this time, you should be drawing closer to the Lord Jesus Christ.)
To: Hoodat
Time to bend over, Boehner!
3
posted on
12/27/2011 8:26:36 AM PST
by
struggle
(http://killthegovernment.wordpress.com/)
To: Hoodat
4
posted on
12/27/2011 8:27:18 AM PST
by
WOBBLY BOB
(Congress: Looting the future to bribe the present.)
To: Hoodat
Where does this end? when does this stop? I guess when there is no more money to take from us and then the riots start.
5
posted on
12/27/2011 8:27:38 AM PST
by
mk2000
To: Hoodat
HO LEE KRA~P ~!~!~!~!~!~!~!~!~!~!
ARE THEY GOING TO LET THIS MORON SPEND US INTO OBLIVION????????
FIRE BOEHNER NOW~!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
GINGRICH SHOULD CALL FOR HIS RESIGNATION AS SPEAKER (he is the onyl candidate with the balls to do something like this)
6
posted on
12/27/2011 8:28:25 AM PST
by
Mr. K
(Physically unable to profreed <--- oops, see?)
To: struggle
Brother, we’re ALL bending over .....
7
posted on
12/27/2011 8:28:25 AM PST
by
Robe
(Rome did not create a great empire by talking, they did it by killing all those who opposed them)
To: Hoodat
One can only kick a can so far with a foot infected with gangrene.
And here we meet the can again.
8
posted on
12/27/2011 8:28:30 AM PST
by
VanDeKoik
(1 million in stimulus dollars paid for this tagline!)
To: Hoodat
A billion this week, a few billion last week, a few more for next week. Rinse and repeat. It never ends with this admin.
9
posted on
12/27/2011 8:28:34 AM PST
by
bgill
(The Obama administration is staging a coup. Wake up, America, before it's too late.)
To: Hoodat
It's an automatic $1.2 trillion increase given to Hussein on a silver platter by:
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10
posted on
12/27/2011 8:29:14 AM PST
by
jimbo123
To: Hoodat
we have a terrorist in the white house. he will destroy this country without another attack
11
posted on
12/27/2011 8:29:19 AM PST
by
mt tom
To: Hoodat
Don’t worry. Congress will form a Super Committee to deal with this issue.
Oh wait......
12
posted on
12/27/2011 8:29:31 AM PST
by
headstamp 2
(Time to move forward not to the center.)
To: Hoodat
Greece. Italy. Spain. America. Pathetic.
13
posted on
12/27/2011 8:30:02 AM PST
by
Oldeconomybuyer
(The problem with socialism is that you eventually run out of other people's money.)
To: Hoodat
The debt limit is projected to fall within $100 billion of the current cap by December 30. WTF does THAT mean?
The new debt limit ill be within $100b of the current one in 4 days?
???
14
posted on
12/27/2011 8:30:02 AM PST
by
Izzy Dunne
(Hello, I'm a TAGLINE virus. Please help me spread by copying me into YOUR tag line.)
To: mk2000
Trying to figure out the end game is really important. It would seem that inflation/hyper inflation is the intermediate result. Wait a few years.
15
posted on
12/27/2011 8:31:49 AM PST
by
Former Proud Canadian
(Obamanomics-We don't need your stinking tar sands oil, or the jobs that go with it.)
To: Hoodat
The junkies need another shot in the arm... and congress will say, “who do we make out the check to?”...
You know this one is a slam dunk.
This no longer surprises anyone... the desensitizing is working...
To: Hoodat
This ties in with my resolution for 2012: draw the line on spending in my HH. I have my budget laid out, to include vacation, (continued) reductions in debt, and additions to an emergency fund.
Time for someone, anyone, in DC to draw the line and say "ENOUGH IS ENOUGH!!!"
17
posted on
12/27/2011 8:33:01 AM PST
by
Night Hides Not
(My dream ticket for 2012 is John Galt & Dagny Taggart!)
To: headstamp 2
this will call for a Super Duper Committee.
18
posted on
12/27/2011 8:33:57 AM PST
by
WOBBLY BOB
(Congress: Looting the future to bribe the present.)
To: Hoodat
Under the new budget,
What budget ?
19
posted on
12/27/2011 8:34:33 AM PST
by
stylin19a
(obama - "FREDO" smart)
To: Hoodat
He won’t even be back from his vacation, and he’s going to ask to raise the debt limit? Must be his and Manchelle’s Hawaii sojourn has cost us more than we originally thought.
20
posted on
12/27/2011 8:34:46 AM PST
by
mass55th
(Courage is being scared to death - but saddling up anyway...John Wayne)
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