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US debt limit to be breached again in October, just before mid-term election

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posted on Mar, 23 2010 @ 04:23 PM
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Is it me or democrats are really screwed?


Btw, KICK ALL TRASH WHO EVER VOTED FOR LAWS AGAINST THE CONSTITUTION BOTH PARTIES.

Patriot Act, Bank Bailout, Health Care bill, ect...

US Debt Update: 6 Months To Revised Debt Ceiling Breach



Just in case some people forget what the trade off to the market melt up is, today we are starting a periodic daily report of the Treasury's total debt subject to the statutory limit. Today's total: $12,607,140,000,000. We started March at $12,383,717,000,000. We started the fiscal year (October 1) at $11,853,434,000,000. We have added $223 billion of debt in the last three weeks, and $755 billion in just 5 months. As a reminder, the debt limit is $14.3 trillion. We are $1.7 trillion away from the limit. At March's run-rate of about $300 billion per month, the debt ceiling will be breached by October 2010. If somehow the government manages to reduce the monthly issuance to "just" $200 billion, we have eight and a half months until breach, or January 2011.


300 billion/month in new debt for March! Can you believe this? 3.6 TRILLION IN DEFICIT FOR A YEAR? Or just a deficit of 25.35% of GDP... NOTHING TO SEE HERE?


Do you know what will happen when the FED is FORCED to raise interest rates? TOTAL DOOM IS WHAT's GONNA HAPPEN.

Why do you think they want to start TAXING YOU RIGHT NOW FOR HEALTH CARE? TO PAY FOR THE DEFICIT, NOT TO PAY FOR HEALTH CARE!

[edit on 23-3-2010 by Vitchilo]

[edit on 23-3-2010 by Vitchilo]




posted on Mar, 23 2010 @ 04:46 PM
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All I can say is......WOW, and shake my head at the way these idiots are setting us up for a crash. We can only pay the interest on the national debt right now, and they want to dig us even deeper into it? Where is this money going to come from? The people? Nope. From the printing press? Nope, the Fed already told Congress they are stopping the presses because it will never get paid back. So where may I ask are they going to get this extra money from? Oh wait, I believe I read a little while back about them tapping everyones 401k`s to give to the banks, and they in turn are borrowing the money from the banks.

Well, kiss your 401k`s goodby. I still feel this is their way of crashing the dollar so they can start it all over again. Problem is, we won`t have a say in it.


[edit on 23-3-2010 by FiatLux]



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