Democrats push to eliminate the debt ceiling, allow unlimited government borrowing.

Fox News ^ | 1.23.2023 | Peter Kasperowicz

[Carriage Hill]

Dozens of House Democrats have proposed legislation that would eliminate the debt ceiling, which would allow the government to borrow without any limit set by Congress. The federal government hit the $31.381 trillion debt ceiling last week, and House Republicans are pushing for commitments to cut back on the record growth in federal spending before agreeing to allow more borrowing. But Democrats accuse Republicans of setting up the possibility of prohibiting a debt ceiling hike, which would make the government unable to fund all of its current obligations.

[Blood of Tyrants]

The melt value of a silver Roosevelt dime is about $1.69. We’re on our way now.

[Gene Eric]

Rats demand unlimited cheese

[Lockbox]

Well damn, guess time for me to write the IRS IOUs.... turn around is fair play. I mean if the US intends someday to make good on the debt, well all I can say is ditto!

[Paperpusher]

15 to 20 years. okay, thank you.

[TheCipher]

If they do that, convert all your IRAs to precious metals.

Then just like FDR with gold, Biden will make it illegal to own and confiscate it. After all, Biden has said he is the new FDR.

[Degaston]

Americans average $2500 per month in gross wages and their share of the national debt is about $96,000 each. Higher interest rates have borrowing costs headed to 4.2% per annum or 0.35% per month or $336 per month for each person. If Congress raises the debt ceiling by 6% or 2 trillion then this amount will rise to over $360 per month for each person and shrink disposable income significantly.

What every debt ceiling increase request should be reported as is like an extra 15 year mortgage being thrown on to every American like a 2nd mortgage.

Having an unlimited national debt ceiling would be national suicide. Its pretty shocking that some politicians are dumbly pushing for this.

[frnewsjunkie]

What are they thinking!!

Where are their senses!!

[Elsie]

Sounds an awful like check kiting!

[Vision]

Immorality running wild.

[Elsie]

Last YEAR the BM was $2.25!

[Elsie]

I think we gave it to the Taliban

[Elsie]

If money means nothing, can I be a billionaire now, please?

No problem, man!

I got a bunch of these from a Nigerian prince just last month!

[Elsie]

If they do that, convert all your IRAs to precious metals.

Like the advertisers do?

Send us your paper money and we'll send you a piece of paper stating you have bought some shiny metal - located somewhere safe.

[Elsie]

Visible inflation in the last month alone!!

https://www.nasdaq.com/market-activity/commodities/gc%3acmx

[Carriage Hill]

That’s rhetorical, right?

[Carriage Hill]

Since the dawn of time, when the communists, socialists, leftists, marxists, fascists, anarchists emerged from the primordial slime of the demonKKKrat party. Remember back then?

[COBOL2Java]

Pretty soon, a 10-dollar bill will be worth oh... about what 10 cents was worth in 1950.

"OK, honey, I'm off to the supermarket to buy an egg and a couple slices of bread!"

"Better hurry up dear, before the price goes up!"

[Rlsau1]

The US$ of 1913 (Federal Reserve originates) is now worth about $.03 and dropping. Central Banks and Central Planning always result in financial and economic devastation for the country that permits it. Oh, that’s for everyone except those at the higher levels of the Central Banks and the Government. They always manage to transfer someone else’s wealth to themselves before things head south.

[COBOL2Java]

The new coin of the realm

[Blood of Tyrants]

Is it worse than a piece of paper stating you have bought more pieces of paper that they will trade for pieces of green paper?