It looks like you're using an Ad Blocker.

Please white-list or disable AboveTopSecret.com in your ad-blocking tool.

Thank you.

 

Some features of ATS will be disabled while you continue to use an ad-blocker.

 

Speaker John Boehner ... raising the debt ceiling

page: 1
2

log in

join
share:

posted on Jan, 6 2011 @ 11:00 AM
link   
Time .. Playing Chicken with the Nations IOUs


This morning the Treasury officially requested that Congress raise the debt ceiling. This has been a long-anticipated move and Congress cannot fail to act as the consequences would be catastrophic: think downgrading our AAA credit status – in other words, sorry China, we will not be able to pay our debts.

But, the prospect of raising the debt ceiling presents the first big hurdle for Speaker John Boehner. The Tea Party wing of his caucus will most certainly not vote for what they deem more bloated government spending. But, any economist will tell you it has to pass. So, Republicans are demanding steep spending cuts in exchange for raising the ceiling.


Free Press

For more on who wants to and who doesn't ...
International Business Times

So basically both the Republicans and the Democrats agree that, (using a picture to show what I mean) even though the credit cards for this country are maxed out and the credit bills can't be paid, they are going to call the credit card company and get the credit limits raised. Is that something that YOU would do with your credit card? Could you? Is it smart? What bank in their right mind would give YOU more credit when you can't even pay the bills you have?

Again, I'm not seeing any fiscal difference between the Republicans and the Democrats.

IMHO - we should be cutting spending and then NOT raise the debt ceiling. Make 'em all tighten their belts. Pay off our bills. Heck .. we can't even pay the freak'n interest on the bills let alone the base of it. Raising the debt ceiling is just delaying the inevitable ... the USA is broke and can't pay the bills .. ever. Raising the debt ceiling just means that China will own more of us when TSHTF. Perhaps that is the NWO plan. Sure looks like it.

SIDE NOTE .... Is Glenn Beck for or against raising the debt ceiling?
Does anyone know? Does Beck even know?

Raising debt ceiling is beginning of the end of the GOP
IMHO .. if he's now for it, then that flys in the face of everything he's been preaching.

Flame away.

edit on 1/6/2011 by FlyersFan because: (no reason given)




posted on Jan, 6 2011 @ 11:11 AM
link   

Originally posted by FlyersFan
SIDE NOTE .... Is Glenn Beck for or against raising the debt ceiling?
Does anyone know? Does Beck even know?

Found it ... Answered my own question .. Beck issued a statement saying definately he supports it.
The Blaze

When Glenn Beck appeared on Fox Business Network with Judge Andrew Napolitano on Tuesday night to talk about whether or not to raise the debt ceiling, the segment ended up confusing the media and Beck followers alike. That prompted Beck on Thursday to come out and clarify what he meant: he supports raising the debt ceiling.


Et tu Mr. Beck? Kinda flys in the face of all your preaching this past year. IMHO



posted on Jan, 6 2011 @ 11:27 AM
link   
We need to eradicate all politicians as the Declaration of Independence states. They are a growing cancer upon our society.

On topic: this is bad, very, very bad. The debt is staggering. Can someone please hit the reset button now?



posted on Jan, 6 2011 @ 11:33 AM
link   
This is what I was saying the other day - the media is going to crucify the Republicans until they fund the federal government and since the federal government runs a deficit and we're already trillions in debt there can be no end to the raising of the debt ceiling. The economy isn't going to turn around its going to get worse, we've lost our manufacturing and industrial base - only 7% remaining and in decline. The government jobs and service jobs only work when everyone has money to spend. We are an economically dying country. They are right - that not passing this will put a lot of people out of work (they shouldn't have been swept up in to state jobs anyway). The Republicans then have to play chicken as it says - put people out of work and get pounded in 2012 or play the game and go in to more debt (steal from our children and dig a hole we'll never come out of). If I was him I would deny the funding outright - in fact, end the deficit and start paying back the loans - I'd be more hated than Pelosi and I'd love every minute of it.



posted on Jan, 6 2011 @ 11:35 AM
link   
reply to post by FlyersFan
 


I always said they will keep spending usa until they get the nwo, why not, its already past the no return point.

Once they went of gold they where on this path and does it really matter how much they spend now?



posted on Jan, 6 2011 @ 11:37 AM
link   
While I do not like the Idea so much
on raising the debt ceiling, I think it is necessary.

I was reading that if the debt ceiling is NOT raised
then when all the interest hits on the traded bonds,
there will be no way to pay back on it. As the interest
will over ride the current debt ceiling.

Bringing our economy to a halt, because then bonds can not
be traded on, the interest can not be made and we sit in a economic state
of staleness.. Say goodbye dollar...

Now this debt ceiling should only be raised to just exactly what we
HAVE to have..

There is no need to raise the debt ceiling if they are just going to absolutely
be irresponsible with the money, use it for things not needed, waste it.. ect. ect.

If it is going to be *business as usual* with raising the debt ceiling then there
is no point in raising it. Might as well let the economy fall.

Now if they can be VERY RESPONSIBLE (might be a long shot)
with the money I see now problem with this, since it is now a necessary evil..



posted on Jan, 6 2011 @ 12:01 PM
link   

Originally posted by thecinic
Now this debt ceiling should only be raised to just exactly what we HAVE to have.. There is no need to raise the debt ceiling if they are just going to absolutely be irresponsible with the money, use it for things not needed, waste it.. ect. ect.


*snicker* - based on my experience with the government they are the most financially responsible people I know - *snicker*

It seems like everytime the debt ceiling was raised the money was used to fund NEW programs and push money in to programs that have no chance in hell of improving the economy. Lets not forget that they lost track of over 2.6 trillion. Talk about a well funded black-ops program.



posted on Jan, 6 2011 @ 12:07 PM
link   
Why even have a debt ceiling if every time you get close to it you can just raise it?

Anyone?



posted on Jan, 6 2011 @ 12:18 PM
link   

Originally posted by jjkenobi
Why even have a debt ceiling if every time you get close to it you can just raise it? Anyone?


You don't do that? Whenever I max out my credit card I just get another one - if I didn't all the people I buy from wouldn't get my business and would suffer. Its a public duty that I take very seriously.



posted on Jan, 6 2011 @ 12:41 PM
link   
reply to post by ararisq
 


Your right. The current administration pushed for unconstitutional social programs, ( as well as most of the presidents ), and now their attempt to " redistribute " another mans labor failed too.

I'm not so sure there is anything we can do now to pay off the debt, boost the GDP, and " clear " the area sort of speak.



posted on Jan, 6 2011 @ 01:25 PM
link   
Well they can only do it for so long
before it all explodes..

After nixon got rid of the gold standard that is what
has let us get into this state to even being able to
raise the debt ceiling...

If they do not get in line now and start being wise with the money
then it will simply crumble some day..

Should we let it crumble right now, not quite..

Lets just hope we can get someone with enough sense as president in office
to deal with the economy... Another 4 of Obama and WE ARE DONE!!



posted on Jan, 6 2011 @ 01:36 PM
link   

Originally posted by thecinic
After nixon got rid of the gold standard that is what has let us get into this state to even being able to raise the debt ceiling...


I thought the same thing but now I believe the real cause (which happened concurrently) was giving the US Dollar world reserve currency status - that is what gave us the blank check to conduct world trade. It would be very costly to us if the Yen or other currency was the world reserve currency - this is the sledgehammer about to fall on us because we're about to lose it.

The gold standard might be a ruse - I think the major holders of gold continue to be the Rothschilds and other elite families. In the 1800s the people had silver and were using it for currency and the bankers lobbied the government in to passing the Crime of '73 to declare silver illegal tender for trade. That bankrupted a lot of regular people that did not have gold and shifted the power back to the elite. It makes sense - if we adopted the gold standard - and even millionaires in this country have never seen a 1oz gold coin - what does it do? It collapses the system.



posted on Jan, 6 2011 @ 01:44 PM
link   
reply to post by ararisq
 


Only now because there is not enough Gold in the world
to cover this debt.

Of course the gold standard at this point and time would do no good
because all the gold in the world wouldn't be enough back up all the
money we have around the world..

It could though if the system collapses to issue the gold standard again..

The point still being IF the gold standard was never done away with
we would not be in this exact situation.
Might not have gotten as rich either..
Wouldn't be in this big mess though...



posted on Jan, 6 2011 @ 01:45 PM
link   
In 2005 Congress forced the Banks to give mortgages to illegal immigrants (non-Americans from all over the world who broke into America). No money down. No ID.

In 2008 HUD reported +5 million illegal immigrants walked away from their mortgages. They bought and sold homes between themselves and fled with the money.

Average Mortgage at the time of $350,000 x +5 million mortgages. You do the math.

All that money is now out of the country. We are stuck with the debt from it.

Those figures have since gone up. +12 million illegals have walked away from their mortgages.

There is NO possible way to get that money back. Those people didn't even have Social Security numbers so credit agencies can go after them. They are all long gone.

You better believe Boehner is crying. What he's being briefed...will make him look 90 years old by the end of the year.



posted on Jan, 6 2011 @ 01:48 PM
link   
Not to mention Bill Clintons last standing order to loan out to everyone so that they too could reach the american " dream". Only problem is, there was no regulation on the loans. Open door policy ensued, with no confirmation of people being able to repay said loan.



posted on Jan, 6 2011 @ 02:31 PM
link   
Bankruptcy of States is next.
2nd



posted on Jan, 6 2011 @ 03:56 PM
link   

Originally posted by Whereweheaded
We need to eradicate all politicians as the Declaration of Independence states. They are a growing cancer upon our society.


Where does the Declaration of Independence ever state such a notion of eradication? It doesn't even call for the maiming or throwing stones at said politicians. Me thinks you need to reread and comprehend the document you so proudly threw out the window with that comment.


That whenever any Form of Government becomes destructive of these ends, it is the Right of the People to alter or to abolish it, and to institute new Government, laying its foundation on such principles and organizing its powers in such form, as to them shall seem most likely to effect their Safety and Happiness.


and...


That whenever any Form of Government becomes destructive of these ends, it is the Right of the People to alter or to abolish it, and to institute new Government, laying its foundation on such principles and organizing its powers in such form, as to them shall seem most likely to effect their Safety and Happiness.


All I see here is a declaration that the People, having the Rights bestowed upon them from Nature and God have the right to abolish or alter their Government.



On topic: this is bad, very, very bad. The debt is staggering. Can someone please hit the reset button now?


On topic also....correct. This is not only very very bad, but super very bad.



new topics

top topics



 
2

log in

join