US debt ceiling history

[Truthmatters]

U.S. Debt Ceiling: Your Cheat Sheet to the Policy History (NYSEIA, NYSE:IWM, NYSE:SPY, NASDAQ:QQQ, NYSE:MDY, NYSE:TLT, NYSE:TBT, NYSE:XLF, NYSE:UUP, NYSE:UDN) | Wall St. Cheat Sheet


the closest the government ever came to default was a last minute deal in 1979. Though the deal was finalized in time, computer malfunctions led to $122 million in Treasury payments being delayed, technically amounting to temporary default and thus permanently increasing interest rates by 0.6%, resulting in $12 billion in additional annual debt payments, costing the government roughly $384 billion to date. We can only imagine the toll a default, even temporary, could take on today’s economy.

 

[Truthmatters]

The history shows us that this default will cost the United States More money forever.

The tea party is trying to distroy this country

 

[Sallow]

Well what we have is a bunch of people divorced from reality sitting in positions of power in the Congress. It's both sad and crazy.

 

[iamwhatiseem]

No...the Tea Party is trying to keep the country from being destroyed.
You people who believe in a "painless" fix are delusional.

 

[Stephanie]

The history shows us that this default will cost the United States More money forever.

The tea party is trying to distroy this country

too late for that, your Obama and his clown administration ALREADY DID THAT.

 

[Truthmatters]

Read The Bill: H. J. Res. 43 [110th] - GovTrack.us



Sep 28, 2007 - Enrolled Bill. This is the final text of the bill or resolution as approved by both the Senate and House. This is the latest version of the bill currently available on GovTrack.









H.J.Res.43




One Hundred Tenth Congress




of the




United States of America




Begun and held at the City of Washington on Thursday,




the fourth day of January, two thousand and seven




Joint Resolution




Increasing the statutory limit on the public debt.




Resolved by the Senate and House of Representatives of the United States of America in Congress assembled, That subsection (b) of section 3101 of title 31, United States Code, is amended by striking out the dollar limitation contained in such subsection and inserting in lieu thereof $9,815,000,000,000.




Speaker of the House of Representatives.




Vice President of the United States and




President of the Senate.

 

[Truthmatters]

That is the FULL text of the last bill to raise the debt limit.


Ask why does all sorts of shit have to be added to any debt ceiling bill.

The republicans can stop this NOW by passing a clean debt limit bill in the house.

 

[Kiki Cannoli]

That is an interesting history. I never knew how the CBO was created.

 

[Truthmatters]

It would pay this country well if Americans knew their history

 

[Skull Pilot]

That is the FULL text of the last bill to raise the debt limit.


Ask why does all sorts of shit have to be added to any debt ceiling bill.

The republicans can stop this NOW by passing a clean debt limit bill in the house.

Why did all sorts of shit that had nothing to do with health care get added to the 3000 page monstrosity that was that bill?

And I think our debt limit is too high as it stands so I'm all for a little fiscal responsibility.

Politicians are supposed to make the hard choices that need to be made. I think it's time they actually did their fucking jobs.

 

[Truthmatters]

This crisis can end TODAY.

The only ones who can END IT TODAY are the republicans

 

[iamwhatiseem]

It would pay this country well if Americans knew their history

Damn straight - you should start them off by learning a few things yourself.

 

[Truthmatters]

I learn every day.

you just recycle your lies

 

[Skull Pilot]

This crisis can end TODAY.

The only ones who can END IT TODAY are the republicans

Oh no not another crisis!!!!!!

 

[Truthmatters]

so you think nothing bad will happen if we fail to raise the debt ceiling on time?

 

[iamwhatiseem]

The OFFICIAL USMB Kool-Aid thread of the month.

 

[Truthmatters]

U.S. Debt Ceiling: Your Cheat Sheet to the Policy History (NYSEIA, NYSE:IWM, NYSE:SPY, NASDAQ:QQQ, NYSE:MDY, NYSE:TLT, NYSE:TBT, NYSE:XLF, NYSE:UUP, NYSE:UDN) | Wall St. Cheat Sheet


the closest the government ever came to default was a last minute deal in 1979. Though the deal was finalized in time, computer malfunctions led to $122 million in Treasury payments being delayed, technically amounting to temporary default and thus permanently increasing interest rates by 0.6%, resulting in $12 billion in additional annual debt payments, costing the government roughly $384 billion to date. We can only imagine the toll a default, even temporary, could take on today’s economy.

This is the real American history.

your personal insults wont erase it

 

[Truthmatters]

One has to ask who it it that gets this increased payments forever from our government?

I think that is who the tea party members are working for.

 

[Truthmatters]

Too many facts here for you to deal with huh?

 

[iamwhatiseem]

No...too many hilarious and fantasy-land misinterpretations to handle in a single day.
I may have to go to bed early tonight...I can't take this much laughing at once.