Real 'debt ceiling' coming soon!

Discussion in 'Politics' started by SniperFire, Dec 27, 2012.

  1. SniperFire
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    SniperFire Senior Member

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    Oh, not the debt limit the politicians will kick down the road again in the next month.

    I am talking about the real one which will change America forever. :


    'Of course, the real “debt ceiling” is not a legislative construct – it’s the day when it becomes impossible to print and borrow enough money to sustain those trillion-dollar deficits.

    It’s coming soon, and its arrival will be heralded by a massive increase in debt financing costs, which might very well devour half of our current discretionary federal spending overnight. On the other side of that lies the real “fiscal cliff.” You won’t believe how far down it goes.'

    Hello debt ceiling, my old friend | Conservative News, Views & Books
     
  2. TNHarley
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    TNHarley Gold Member

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    After this debacle is over the next one is just down the road.4 more years of this? It's unsustainable.Can't keep this farce going much longer.Obama is sitting on a three legged stool with two broken legs.
     
  3. TNHarley
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    TNHarley Gold Member

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    Liberals wanted this, Liberals got this as their preferred means of
    Governance. NOW no more Excuses, Denials, Blaming Others!
     
  4. ba1614
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    ba1614 Silver Member

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    Just give obummer control of the credit card limit and all will be well. lol
     
  5. waltky
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    waltky Wise ol' monkey Supporting Member

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    Debt ceiling next fiscal crisis...
    :eusa_eh:
    What Congress got done, and what it didn't
    January 2, 2013 - While you were celebrating the start of the new year, Congress was still trying to clean up matters from the end of 2012. Here’s a quick look at what got passed, what didn’t, and what it means for troops and veterans in the months ahead.
    See also:

    Cliff averted, it's on to the next fiscal crisis
    Jan 3,`13 WASHINGTON (AP) -- Onward to the next fiscal crisis. Actually, several of them, potentially. The New Year's Day deal averting the "fiscal cliff" lays the groundwork for more combustible struggles in Washington over taxes, spending and debt in the next few months.

     
    Last edited: Jan 3, 2013
  6. waltky
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    waltky Wise ol' monkey Supporting Member

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    Granny says, "Dat's right - dey gonna raise ever'body's taxes...
    :eusa_eh:
    Dems want to raise as much as $1T through 'tax reform' later this year
    1/07/13 - Democrats say they want to raise as much as $1 trillion in new revenues through tax reform later this year to balance Republican demands to slash mandatory spending.
    See also:

    Tax issue ‘finished,’ focus should turn to spending cuts
    1/06/13 - Senate Minority Leader Mitch McConnell (R-Ky.) on Sunday said Republicans will demand steep spending cuts during the next round of budget negotiations.
     

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