Debt Ceiling pause for Nov Election Deal

So it begins...the can is running out of road. Sure ya, give it to the next Pres to deal with the debt...might not be Obama anyway. They want to raise the debt ceiling so that it wont expire till after the Nov elections. Yet he wants to borrow some time to let congress think about it. We really are going to go to sh*t quick folks, fair warning. At this point we're gonna fall cause we wont be able to do this forever and either way we're screwed.

Raise it = the big suck
Don't Raise it = more immediate faster sucking, but still the same big suck


.....I give us until May. Didn't see any other threads specifically on this part of it.....

When this happens so will inflation...maybe the Mayans and the tin foil hat club weren't full of it after all? Please feel free to discuss...i'm all earwax....now if you'll excuse me I gotta go to anger management with Mel Gibson.

Kick the can...fun game.....everyone loses.....Source

Cheers!

reply to post by BooKrackers
NO RAISE!!!!!!

No!

Nonononononononononoononono!

Stop spending so damned much!

Originally posted by beezzer
NO RAISE!!!!!!

No!

Nonononononononononoononono!

Stop spending so damned much!

Its not like they are gonna spend any more.
The money is spent, they need the money to pay for what has already been spent.

Its like the Gov had a great christmas, and now the credit card bills are coming in, added to the last 20
or so great christmas,s , that haven,t been paid for yet.

Can,t just say no more, this is the real world Buttercup.

if the debt ceiling is raised again, were going to need Dr. Paul to cut all the spending.

Been looking into this for a while now.............there is really only one solution left at this point.
They can not cut enough to get us out of this bottomless pit they've thrown us into because they are unwilling to give up that much power.
They can not tax enough to get us out of it either. They have ruined the economy and many people don't have anymore to give ("give" actually means "to steal from" for those of you who are "government slang challenged").
So what is the solution?
They need a way to reset the monetary system and they need time to put everything in place.
So they kick the can waiting on the best opportunity......................not to derail the thread but any ideas on what form such an event might take?
WWW 3?
Fake 2012 end of the world event?
Totally transform the US? (my personal favorite)
No backing out now kids......."something wicked this way comes"
Quad

Can anybody explain to me what harm is done by collecting excess $ tokens, and switch them for T-Bill tokens?

reply to post by narwahl



That would depend my friend on the one doing the printing....since banks are the ones doing it, they lose that interest on every dollar printed which adds up to a gazillion dollars globally...it's not just our system thats crashing. One of these guys saw the opportunity and started the scheme world wide to every country that would allow US interest to rape the resources so to speak.....when these po dunk 3rd world nations try to escape the grip of US commerce outside the US's guidelines for regulations......


We start revolutions, protests, and thus eventually oust the current leader we put there in the first place. It's akin to a heavy duty coke habit...its a vicious circle to keep the flow of coke going into you pocket is what it amounts to. And if you've ever seen a coke head go through great lengths to keep the coke comin then you know what I mean.

Our spending is a direct reflection of that extension of interest. If we were just to maintain the homeland, we would have never seen debt totals like this. Because corporate interest drives our lawmakers, this proverbial game of economic brinkmanship is what we're left with as a populous. Which is a crime in itself cause these rich c*ck suckers don't even see us as people, we're dollar signs nothing more.

The sad part? No law maker other than Paul and a select few will even bother producing laws that curb greed, and even fewer will pass the house due to those in power that don't want to alienate the corporate base that feeds them election dollars......you didn't actually expect them to spend their own money on a election did you?

American politicians are right up there in between divorce lawyers and used car salesman.....no offense....

Oh, I am with you on the oversized US military!
Biggest airforce in the world: US Airforce
2nd biggest: US Navy

Of course there is another side to that too: 1.5 Million serve, and I guess they are pretty dependent on those "jobs" (And there is also the whole rest of the military-industrial complex)
(Interesting sidebar: Looks like a General/Admiral gets a bit more than 10x as much as a guy who just walked throug the door.
militarypay.defense.gov...
Wouldnt it be great if we could enforce that in the private sector?)

Anyway: Yep: with downsized military spending there would be a lot less bonds to buy. A lot of folks would be pretty sad about that. Heck, even if that happened T-Bill yields wouldnt even drop noticably, since they can't drop any significant amount anymore.

The question I was asking was more is why is gov-debt a bad thing? Interstingly it seems that those who think it is a bad thing, are also the ones who say you shouldn't just print the tokens. I smell some vested interests in that argument...

Another interesting sidebar: Finland is using the Euro, Sweden isn't. Meaning Sweden can print their own tokens, Finland can't
Up until joining the Euro Bond yields for finland and sweden were pretty much the same. Post-Euro finlands yields wen't up. Intersting, isn't it?

Originally posted by Tw0Sides

Originally posted by beezzer
NO RAISE!!!!!!

No!

Nonononononononononoononono!

Stop spending so damned much!

Its not like they are gonna spend any more.
The money is spent, they need the money to pay for what has already been spent.

Its like the Gov had a great christmas, and now the credit card bills are coming in, added to the last 20
or so great christmas,s , that haven,t been paid for yet.

Can,t just say no more, this is the real world Buttercup.

edit on 31-12-2011 by Tw0Sides because: spelling, due to lack of coffee

Buttercup.

Create spending cuts now. Abolish wasteful redundant government programs and departments.

A politician with a set and a spine would have done it by now.

What do we have in DC?

*crickets*

reply to post by beezzer


In DC....we have snakes.........no real spine to speak of........but the hiss a good tune.....and swallow money whole........