The Largest Debt Limit Increase in History! - Hoodwinked Again!

The Republicans and Democrats just participated in yet another major fraud on the American People! They voted to continue enslaving Americans with chains forged of ever-increasing and perpetual debt. Oh the increase in the debt limit is real alright. It is the only real thing in the debt deal! AND IT IS THE LARGEST INCREASE IN THE DEBT LIMIT IN HISTORY! It is all these criminals know how to do!!!

The cuts, however, are a charade. to understand how "cut" is defined in government one must realize THERE WERE NO CUTS but an expansion of the debt limit just not as much as they had originally planned and hoped for. . Lets say expenses are projected to grow $1 trillion, and they pass a budget for $900 billion, that is counted as a $100 billion "cut". Second, none of the cuts take place until 2013, after the presidential election and the new Congress is seated. The budget bills do not bind the next incoming Congress, so these cuts are a fraud. Third, the reductions are a joke compared to the actual problem. Finally, the leadership of both parties have ceded their decision making to a "deficit commission". . The only people on that so called commission will be the special interests you can rest assured.

Wake up America there were and will never be any cuts by these criminals! They just expanded deficit spending by 7 trillion instead of thier planned 10 trillion and everyone thinks all is right with the world... Sigh!

Love him or hate him Americans better start listening to Ron Paul because he is the only guy up there on the hill who knows what he is talking about. These idiots just doomed the economy for sure, There is no chance of recovery as what they just did is what got us to this point in the fist place and this is just more of it. And they are acting like the saviours of the world... The dollar will likely crash before any of this is even implemented because now they have INCREASED THEIR CREDIT LIMIT and can spend more money we don't have while pretending to be balancing the budget. They just voted themselves another spending spree AND WILL BE PARTYING ON while America burns economically...

THERE ARE NO CUTS! NOTHING, NADA!!! The just did what they always do but a little less of it and sold it to America as cuts and debt reduction. Sad part is most are buying it...

They are preparing for WWIII and have to keep the money flowing/printing.
More money must be paid into the hungry Military Industrial Complex. They must also be able to throw more money at Homeland Security in the fight against home grown terrorists. Their thirst for aggression and feeding the war machine is the only reason they raised the debt ceiling. It has nothing to do with helping Americans.

Iran is the new boogeyman.

reply to post by hawkiye


I know I am making this post really fast after you posted, however, is it possible we should see an increase in debt as our country grows? Possibly with inflation or to catch upto inflation? I am not trying to argue I am asking because you seem to be knowledgable. In the future after we get out of the debt, and then go into debt again it should be even more, or will have the potential for even more?

i suck at math but obamas already spent 5 trillion and just added 2.4 trillion which means he has spend in 1 term for than bush did in 2 terms or 8 years.....

and bush was bad

reply to post by hawkiye


What are your sources?
2nd.

The bill to increase the federal debt limit that has been put before Congress today would increase that limit by up to $2.4 trillion, which would be the largest increase in the debt limit in U.S. history by a margin of half a trillion dollars, according to records published by the Government Accountability Office and the Congressional Research Service.

www.cnsnews.com...


guess some people just need to be spoonfed

reply to post by neo96


No i know about the debt ceiling increase and the amount of the increase. I ment what makes you believe there are no actual cuts. The debt ceiling has only been raised 900 billion, without cuts of an additional 1.6 trillion there will not be an increase of the full 2.6 or whatever. So if your getting different information then what is actually in the bill i would love to see it

Originally posted by etombo
reply to post by hawkiye

 

I know I am making this post really fast after you posted, however, is it possible we should see an increase in debt as our country grows? Possibly with inflation or to catch upto inflation? I am not trying to argue I am asking because you seem to be knowledgable. In the future after we get out of the debt, and then go into debt again it should be even more, or will have the potential for even more?

We will never get out of debt. When you borrow money to service existing debt all you are doing is increasing your debt not paying it off. Sure as long as your income is more then your expenses and continues to increase you can take on more debt as long as you can make the payments. America cannot make the payments as the economy is not expanding enough if at all. So they just increased the credit limit to pay the bills which is mostly just interest on existing debt.

Ask yourself this. If you have a credit card and can no longer afford the payments so you borrow money now to make the payments are you paying your bills or increasing your debt? How long do you think you can last doing that? Essentially that is what they are doing.

Originally posted by Campy61
reply to post by neo96

 

No i know about the debt ceiling increase and the amount of the increase. I ment what makes you believe there are no actual cuts. The debt ceiling has only been raised 900 billion, without cuts of an additional 1.6 trillion there will not be an increase of the full 2.6 or whatever. So if your getting different information then what is actually in the bill i would love to see it

What part of "INCREASE" do you not understand? If you increase less then you originally planned is that a cut or just a little smaller increase?

Originally posted by hawkiye
We will never get out of debt. When you borrow money to service existing debt all you are doing is increasing your debt not paying it off.

Exactly.

The U.S. government currently borrows 40 cents of every dollar that it spends.

And now that the debt ceiling is raised, its off to the races to borrow 72 Billion in a Debt auction next week

Like you, I knew the bickering over the debt limit was a charade. They got what they wanted out of it. If they had just passed a huge increase in the debt limit the outcry from the public would have been worse. By delaying the increase due to the bickering and then threatning people with not getting their checks ( blackmail?) they were able to get the public to saying thank you for screwing me. What amazes me is how many people out there believe their lies.

reply to post by hawkiye


I understand how debt works, I am just saying we keep hitting record highs because our country is larger, we have more assets, people, more military, everything. The more we progress as a country the more we should expect huge numbers like this, right?

reply to post by etombo


no

the government is and has been and will forever be bad with our money

remember that its our money because they get some blow it then takes more goes blows it

and rinse and repeat

we are the losers here and we have been for decades

reply to post by neo96


are we agreeing? I am saying that we should expect this, right?

reply to post by etombo


yeah man til the day we die nothing will ever change in washington but the names

Originally posted by etombo
reply to post by hawkiye

 

I understand how debt works, I am just saying we keep hitting record highs because our country is larger, we have more assets, people, more military, everything. The more we progress as a country the more we should expect huge numbers like this, right?

You seem to be decades behind the times. The economy is not expanding fast enough to cover the existing debt yet they are borrowing more anyway as if it is. This is the flawed thinking of Keynesian economics. Every fiat system in history has failed and failed badly. YOU CANNOT LIVE ON A CREDIT CARD FOREVER!

All our prosperity has been fake and based on credit and it is now returning to from whence it came; NOTHING!

reply to post by hawkiye


I assure you that I have a wider knowledge of credit, credit policies, loans, etc than you think.. All I am saying is that we have more stuff and more people. The money has to come from somewhere, I am not surprised by this, it is not news to me.. that's all.. Thank you for insulting me. It is your post, you can do that. Cheers.

Originally posted by hawkiye
AND IT IS THE LARGEST INCREASE IN THE DEBT LIMIT IN HISTORY! It is all these criminals know how to do!!!

In dollars, but not in percentage. Reagan and Bush both raised the debt limit (in percentage) by leaps and bounds over this deal.

Reagan raised it 199.5% through 18 separate raises of the ceiling

Bush (W) 90%

Bush (Sr) 48%

Clinton 44%

Obama 26%

Originally posted by etombo
reply to post by hawkiye

 

I assure you that I have a wider knowledge of credit, credit policies, loans, etc than you think.. All I am saying is that we have more stuff and more people. The money has to come from somewhere, I am not surprised by this, it is not news to me.. that's all.. Thank you for insulting me. It is your post, you can do that. Cheers.

Please quote where I insulted you? I am just answering your questions. Are you now trying to pick a fight? Do you have some other agenda?

Back on topic: Apparently you don't know as much as you think because you say the money has to come from somewhere. Well the money comes from thin air my friend. The fact that you do not know that tells me where your knowledge level is. That is not an insult either just the facts. What we call money in this system is either printed from thin air or created as a book entry from loans. The majority of it is from loans.

Having more stuff and more people doesn't preclude us from debasing our currency and that is what we do every time we raise the debt ceiling print money or a bank makes a loans from thin air. In the past our economy grew fast enough to service all teh debt and fiat money. Now it does not. That is why we are in a depression. All that false prosperity is evaporating. All that stuff bought with inflated credit/money is now sitting idle not doing anything and getting repossessed etc. It is not going to suddenly turn around because we are at the end of the limit of where a credit/fake based economy can be sustainable.

Originally posted by etombo
reply to post by hawkiye

 

I understand how debt works, I am just saying we keep hitting record highs because our country is larger, we have more assets, people, more military, everything. The more we progress as a country the more we should expect huge numbers like this, right?

Exactly.

And as for the whole argument that it's not a cut since they added to the debt limit, but less than they wanted, I agree. However, this is not unlike the way the private sector reports "losses" for a fiscal year. First comes an earnings projection. For this example we will us a simple amount of $500. The comes a budget based on that income projection. then come the quarterly earnings reports and finally they end up with earnings of $400. They report that they lost $100 for the year, but in reality, they simply didn't make $100 that they thought they would. That isn't a loss.

Our debt will always grow. But when Washington wants to raise our borrowing capabilities by 10 million and they only end up raising it to 7 million (just an example) that still counts for something! To complain that it isn;t enough or isn't a cut is childish. We may be able to reduce costs, but costs are always going to be there and if anyone thinks there will come a time when expenditures equal gains, especially without serious tax reform and raises, they are wrong now and will be wrong then.