Debt limit to be raised (what a shock)

Dissipate

Diamond Member
Jan 17, 2004
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I didn't even know there was a debt limit. It appears to me that this limit isn't worth the paper it is printed on, they are just going to keep raising it and raising it until Bush has us in the poor house. What a load of B.S.

WASHINGTON, June 16 (Reuters) - A top U.S. Treasury official on Wednesday reaffirmed the need to raise the U.S. debt limit this year, mostly likely before the November general election.

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"Late summer, early fall is the projection," Treasury Under Secretary for Domestic Finance Brian Roseboro told reporters after a speech at the Exchequer's Club.

Roseboro said in a response to a reporter's question it might also be possible that Treasury could make it through the November general election before a hike in the $7.384 trillion debt ceiling would be needed.

"It depends on when we hit it and the amount, but that is a possibility," he said, adding that the debt limit ought to be raised well before it is actually reached."

It ought to be raised well before it is actually reached?! Then WTF point is there in having a debt limit? LMAO, politics at its finest.

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LunarRay

Diamond Member
Mar 2, 2003
9,993
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It seems to me the passing of a budget that is gonna have a 500b shortfall sorta makes raising the debt limit a simple follow along.
Keep in mind that the super rich mid east oil folks need some place to invest their money.. why not in the US National Debt.. I wonder what would happen if they didn't re invest their money with us.. hmmm