New debt ceiling to be hit in Feb

[Specop 007]

Spend spend spend, hope and change. Say what you want but the mindset that we have unlimited money to throw around IS going to break this country. You can count on that.

Our only hope I think is to elect some drunken sailors into Office to slow down spending. I can only assume one of two things. Either this crop of current Democrats really are as mindless as some people thought or they really are determined and hell bent of tearing this country to pieces.

http://abcnews.go.com/Business/wireStory?id=9736091


Treasury Expects to Hit Debt Limit in February
Treasury expects to reach government's $12.4 trillion debt limit by end of February


The Treasury Department said Wednesday it expects to hit the government's debt ceiling by the end of February, putting pressure on Congress to raise the limit from its current level of $12.4 trillion.

Treasury said it is working closely with Congress to raise the ceiling. The Senate has approved legislation to increase it by $1.9 trillion to $14.3 trillion, but the House has yet to pass the measure. A ceiling that high would equal about $45,000 for every American.

Congress approved a smaller increase of $290 billion in late December, allowing the government to borrow for about two more months.

The announcement comes after the Obama administration on Monday released a budget that projects this year's deficit will reach $1.56 trillion, an all-time high. That's equivalent to 10.6 percent of the economy, the highest proportion since World War II.

The deficit is projected to decline to $1.27 trillion in the 2011 budget year and $828 billion in 2012.

Despite the record deficits, the department also said Wednesday it no longer needs to increase the size of the debt auctions it uses to fund the gap. Treasury has increased its auctions of bonds, bills and other marketable securities for two years to fund the increasing flow of red ink. A Treasury official said that current auction amounts should be able to meet this year's borrowing needs.

The Treasury also announced that it will raise $81 billion in its quarterly refunding operation next week. That ties a record set last quarter for the largest quarterly auction. The department will auction $40 billion of three-year notes on Tuesday, $25 billion in 10-year notes on Wednesday and $16 billion in 30-year bonds on Thursday.

 

[rudder]

The senate better raise the limit for the rest of the year before Scott Brown is seated (even though Kirk http://kirk.senate.gov/ and the democrats still think the outgoing Senator can vote).

 

[RyanPaulShaffer]

The senate better raise the limit for the rest of the year before Scott Brown is seated (even though Kirk http://kirk.senate.gov/ and the democrats still think the outgoing Senator can vote).

Yes, that is totally shady. The law states that as soon as the new senator is elected by the people, then the appointed one is no longer allowed to vote. Oh well, full-speed ahead on the agenda, the laws can go pound sand, as far as the current figureheads of the Democrats are concerned.

 

[Triumph]

I'll stay out of the partisan attacks and say that the current Congress needs to quit with the never ending increase in deficit spending. What the hell good is a debt ceiling if all you do is raise it whenever you want to? This completely consequence free mindset is going to ruin this country's economic prowess.

 

[RyanPaulShaffer]

I'll stay out of the partisan attacks and say that the current Congress needs to quit with the never ending increase in deficit spending. What the hell good is a debt ceiling if all you do is raise it whenever you want to? This completely consequence free mindset is going to ruin this country's economic prowess.

Good point. They vote on a debt ceiling, then spend like drunken sailors, hit that debt ceiling, then just vote to increase it again. It is madness. They just keep giving themselves blank checks to spend, baby, spend!

 

[heyheybooboo]

Maybe next time the 'Cons' (the Grand Old Propagandists) will pay for their tax cuts, War, Big Pharma Give-A-Ways, Education Programs and 70% increase in DoD spending (over and above the Costs of War-s).




???






--

 

[Triumph]

Maybe next time the 'Cons' (the Grand Old Propagandists) will pay for their tax cuts, War, Big Pharma Give-A-Ways, Education Programs and 70% increase in DoD spending (over and above the Costs of War-s).

Ok Republican Congress and Prez Bush spent a lot of money. WE GET IT. Democrats have used up that excuse. Don't YOU, heyheybooboo, care about the current level of deficit spending?

 

[Mursilis]

Ok Republican Congress and Prez Bush spent a lot of money. WE GET IT. Democrats have used up that excuse. Don't YOU, heyheybooboo, care about the current level of deficit spending?

Doubt it. He's one of those "it's only wrong if the GOP does it" types.

 

[Specop 007]

I'll stay out of the partisan attacks and say that the current Congress needs to quit with the never ending increase in deficit spending. What the hell good is a debt ceiling if all you do is raise it whenever you want to? This completely consequence free mindset is going to ruin this country's economic prowess.

Please list the Republicans that voted for the debt increase.
Partisan attacks or not, you know its true.

 

[Vette73]

Please list the Republicans that voted for the debt increase.
Partisan attacks or not, you know its true.

Most all of them did, when they had the majority.
http://www.opencongress.org/article...-Always-Been-Against-Raising-the-Debt-Ceiling


oh thats right, when Dems do it its bad but when Reps do it, its good?

Strange I can;t find your thread of outrage when republicans did it. Can you help me find that?

 

[Mursilis]

Please list the Republicans that voted for the debt increase.
Partisan attacks or not, you know its true.

That would be a better question if this weren't the first or only recent increase of the debt ceiling. The GOP spent pretty recklessly during its term in power. No side is blameless here.

 

[Triumph]

Please list the Republicans that voted for the debt increase.
Partisan attacks or not, you know its true.

Thanks for twisting it into a partisan issue yet again. Do YOU, Specop, think it's OK to keep increasing the deficit the way Congress is doing? It's a simple question.

 

[Robor]

Please list the Republicans that voted for the debt increase.
Partisan attacks or not, you know its true.

LOL... Please list the (R)'s who didn't vote for the debt ceiling increase when their party requested it.

 

[juiio]

The senate better raise the limit for the rest of the year before Scott Brown is seated

It doesn't matter if it does not pass before Brown is seated. The Republicans have no interest in filibustering this; they want it to pass. The no votes were for show; they wouldn't have voted against it if it meant the bill wouldn't pass.

 

[Moonbeam]

I heard that that the financial crisis would have become a catastrophe if the government didn't spend. I heard that was the consensus among experts.

So Obama went with the consensus of experts, it seems to me. It would have been criminal to do otherwise, no? What if he listened to Republicans and we had a real depression. That wouldn't have been too smart, especially considering that the Republicans would have immediately been for spending if Obama had turned off the tap.

As I see it, Obama is doing exactly what the majority of experts in the economy think he should be doing. I would call that acting responsibly. I would call people who disagree with his actions stupid brain-dead fucking assholes.

 

[rudder]

Maybe next time the 'Cons' (the Grand Old Propagandists) will pay for their tax cuts, War, Big Pharma Give-A-Ways, Education Programs and 70% increase in DoD spending (over and above the Costs of War-s).

Since Bush raped the treasury his last few months in office... by all means... lets forget the $1.6 trillion deficit. $4 trillion is such a nice round number.

 

[werepossum]

I'll be amazed if they raise $16 billion in 30 year bonds.

 

[rudder]

I heard that that the financial crisis would have become a catastrophe if the government didn't spend. I heard that was the consensus among experts.

So Obama went with the consensus of experts, it seems to me. It would have been criminal to do otherwise, no? What if he listened to Republicans and we had a real depression. That wouldn't have been too smart, especially considering that the Republicans would have immediately been for spending if Obama had turned off the tap.

As I see it, Obama is doing exactly what the majority of experts in the economy think he should be doing. I would call that acting responsibly. I would call people who disagree with his actions stupid brain-dead fucking assholes.

There are a lot of brain-dead fucking assholes that think that there are in fact no such things as companies that are too big to fail. Failing will afford the opportunity for other companies that do things correctly a chance to expand. Ford posted a profit with out any bailouts. If GM and Chrysler cannot operate without taxpayer money... well there is always Honda, Toyota, Kia, Ford, Hyundai, VW. Same thing with banks... if they are too big to fail ..let them and let a smaller bank expand into those vacated markets.

Now, what to call these people who have their head so far up obamas ass they cant see past the wagyu steak in his belly. Hell that does not make sense... but it is intended for moonbeam so maybe he can figure it out.

 

[newnameman]

Maybe next time the 'Cons' (the Grand Old Propagandists) will pay for their tax cuts, War, Big Pharma Give-A-Ways, Education Programs and 70% increase in DoD spending (over and above the Costs of War-s).

 

[Specop 007]

Thanks for twisting it into a partisan issue yet again. Do YOU, Specop, think it's OK to keep increasing the deficit the way Congress is doing? It's a simple question.

I dont think its ok for either Party to do it. I didnt approve of Bush doing it and I damn sure dont approve of Obama running on his transparency, hope and change, account for every dollar bullshit and continue spending even MORE than the previous guy.

 

[Specop 007]

I heard that that the financial crisis would have become a catastrophe if the government didn't spend. I heard that was the consensus among experts.

So Obama went with the consensus of experts, it seems to me. It would have been criminal to do otherwise, no? What if he listened to Republicans and we had a real depression. That wouldn't have been too smart, especially considering that the Republicans would have immediately been for spending if Obama had turned off the tap.

As I see it, Obama is doing exactly what the majority of experts in the economy think he should be doing. I would call that acting responsibly. I would call people who disagree with his actions stupid brain-dead fucking assholes.

There are as many experts who say that the government interference prolongs the pain. Studies show thats exactly what happened last time during the Great Depression and experts stated that it would happen again this time.

So how about you just pick which argument you want to believe, find "experts" who support your view and then point fingers at the other side and call then brain dead.

Sounds perfectly reasonable to me.......

 

[Moonbeam]

rudder: There are a lot of brain-dead fucking assholes that think that there are in fact no such things as companies that are too big to fail.

M: Apparently you're one of them.

r: Failing will afford the opportunity for other companies that do things correctly a chance to expand. Ford posted a profit with out any bailouts. If GM and Chrysler cannot operate without taxpayer money... well there is always Honda, Toyota, Kia, Ford, Hyundai, VW. Same thing with banks... if they are too big to fail ..let them and let a smaller bank expand into those vacated markets.

M: Before or after the depression. Let me emphasize the the experts said the collapse of these industries would have been a catastrophe and then there is idiot you who says differently. Who the fuck cares what you think?

r: Now, what to call these people who have their head so far up obamas ass they cant see past the wagyu steak in his belly. Hell that does not make sense... but it is intended for moonbeam so maybe he can figure it out.

M: Only a moron ignores the wisdom of the experts in a crunch situation. Too much is at stake to listen to fools who are out of the mainstream opinion.

It makes no fucking difference whether you are right or wrong, you HAVE to follow the advise of the pros. That's what intelligent people do.

You are a fucking hair brained idiot if you think world leaders or the Pres of the US is going to go off on some minority held point of view when the countries economic future is at stake. Try to fucking grow up, OK you egotistical little fuck. People's fucking lives ride on these matters.

 

[Moonbeam]

There are as many experts who say that the government interference prolongs the pain. Studies show thats exactly what happened last time during the Great Depression and experts stated that it would happen again this time.

So how about you just pick which argument you want to believe, find "experts" who support your view and then point fingers at the other side and call then brain dead.

Sounds perfectly reasonable to me.......

No that is what you are doing. There isn't the slightest doubt what the majority of experts advised. There is no equal division.

 

[theeedude]

Conservatives just want Obama to cut spending to send this economy into a tailspin so they can then blame it on Obama for political gain. Disgusting.

 

[nick1985]

Conservatives just want Obama to cut spending to send this economy into a tailspin so they can then blame it on Obama for political gain. Disgusting.

wow

/facepalm