Our Imaginary Debt Cieling

Discussion in 'Politics' started by Quantum Windbag, May 4, 2011.

  1. Quantum Windbag
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    Quantum Windbag Gold Member

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    I know, the apocalypse will be on July 8th, (excuse me, Aug 2nd,) but who cares? Other than whoever is in the White House.

    Our Imaginary Debt Ceiling - Reason Magazine
     
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    Last edited: May 4, 2011
  2. Mr. Shaman
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    Mr. Shaman Senior Member

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    Last edited: May 4, 2011
  3. Avorysuds
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    Avorysuds Gold Member

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    Spending and Wars need to be cut, it's that simple. Obama seems to not have the sack to do these things so I yhope we get someone else that can.
     
  4. Trajan
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    Trajan conscientia mille testes

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    my understanding is the debt. ceiling 'hard' dates have been foregone, forgoed whatever, a number of times in the past with no detriment to our fisc.
     
  5. waltky
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    waltky Wise ol' monkey Supporting Member

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    Debt limit gettin' close...
    :eek:
    Debt-Ceiling Brinksmanship: Treasury Will Hit Legal Limit When It Borrows $13.86 Billion More
    Wednesday, May 04, 2011 - As of the close of business yesterday, the U.S. Treasury was just $13.86 billion short of hitting the legal debt limit of $14,294,000,000,000.00, according to the Daily Treasury Statement released at 4:00 pm today.
    See also:

    Americans May Come to the Capitol ‘With Pitchforks and Torches,’ Senator Warns
    Wednesday, May 04, 2011 – As the Obama administration demands another increase in the U.S. debt limit, Americans taxpayers are demanding spending restraint, Sen. Orrin Hatch (R-Utah) told the Senate Finance Committee on Wednesday.

     
    Last edited: May 5, 2011
  6. Mr. Shaman
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    Mr. Shaman Senior Member

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    Gee.....whatta shame you couldn't manage to flag Eric Cantor, on that, before he approached The President on bended-knees......​

    Hey.....Eric.....the whining wasn't necessary.......

    :rolleyes:
     
  7. Mr. Shaman
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    Mr. Shaman Senior Member

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    "Forgone" was sufficient. There's no need to (attempt to) "legitimize" the Teabagger-version: forgoed.

    Life is confusing-enough, for them. ​
     
  8. Mr. Shaman
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    Mr. Shaman Senior Member

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    Aw, jeez.....Orrin Hatch had to pop-up with a (Sarah Palin style) "Lookit me! Lookit me!" effort....to state the obvious??

    [​IMG]
     
  9. editec
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    editec Mr. Forgot-it-All

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    We have an economic system that infused new money into the system only by a process of DEBT.

    And then we are surprised that the nation is drowning in the sea of debt to bankers?

    My GOD! we're a nation of economic imbeciles
     
    Last edited: May 5, 2011
  10. Mad Scientist
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    Mad Scientist Deplorable Gold Supporting Member Supporting Member

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    No one believes "we're all gonna' die" unless the debt limit is raised so "Turbo Tax" Tim is changing his tune a bit:
    Geithner Says U.S. Can Take
    [/quote]By taking “extraordinary measures,” the U.S. can keep borrowing until Aug. 2 after reaching its $14.29 trillion legal debt limit no later than May 16 unless Congress acts, Treasury Secretary Timothy F. Geithner said. The Treasury Department will take steps starting this week to provide additional borrowing room, Geithner said in a letter today to Senate Majority Leader Harry Reid, a Nevada Democrat, and other congressional leaders. The Treasury pushed the August deadline back from July 8 “as a result of stronger-than- expected tax receipts,” Geithner said. The May 16 date is unchanged from an estimate he made last month.[/quote]
     

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