Trump's First Real Decision-Treasury Department burning through cash as debt ceiling approaches

Ahhhh the debt. Now we can see what Trump is made of.
Will Trump sent Fed workers home for a paid vacation, or start the super painful process of living with in the means of our countries financial system? The debt ceiling was removing in 2015 so Obama didn't need to be bothered with such smallness. Now what will be the geniuses next steps?


So now the hangover from the party we have had with a no limit taxpayer credit card. In a classless move our spineless leaders removed the debt ceiling. This means spend what ever the flip you want. But March 15th is pucker time. What will Trump do?

Specifically, Congress passed legislation in late 2015 that suspended the debt ceiling through March 15, 2017. Until that date, the government can borrow whatever it needs to keep funding itself at levels approved by Congress.

www.washingtonexaminer.com...

originally posted by: seasonal
Ahhhh the debt. Now we can see what Trump is made of.
Will Trump sent Fed workers home for a paid vacation, or start the super painful process of living with in the means of our countries financial system? The debt ceiling was removing in 2015 so Obama didn't need to be bothered with such smallness. Now what will be the geniuses next steps?


So now the hangover from the party we have had with a no limit taxpayer credit card. In a classless move our spineless leaders removed the debt ceiling. This means spend what ever the flip you want. But March 15th is pucker time. What will Trump do?

Specifically, Congress passed legislation in late 2015 that suspended the debt ceiling through March 15, 2017. Until that date, the government can borrow whatever it needs to keep funding itself at levels approved by Congress.

www.washingtonexaminer.com...

Granted I am not a economic wiz but I just find it absurd that the US of A is in this situation, if it was not for the miss management and what could well be the down right blatant destruction of the country it really should be eldorado, or am I missing something?..


RA

a reply to: slider1982

Nope, you got it right.

Since we our money went petro, we have been on a ever growing bubble.

THe fed loves inflation, and with fractional reserve lending it is almost guaranteed.

The money system is designed to funnel money up to the top.

Good find, I have been wondering about this.

I think this time the republicans will have no problem raising the ceiling, they will tell everyone its just routine procedure, and that Reagan did it.

a reply to: seasonal

He is a Progressive.

I predict a massive wave of spending. I assume he knows already that it is unsustainable so he will get as much infrastructure done before any currency restrictions.

a reply to: seasonal

That's easy, he'll build a wall entirely around the US and every other country on Earth will have to pay for it.

Trump - Making Amerussia great again.

He wants to

Go to the moon again
Build more nukes
Build a wall
Increase military spending by 56 billion

The debt ceiling is going to explode.

I bet when we once again hit the debt ceiling emperor trump decides to default our currency the same way he defaulted all his own debt and declared bankruptcy.

a reply to: Grimpachi

Remember when he said he has no problem with letting the economy crash because he's the self proclaimed King of Debt and he thinks he can make a better deal with the banks once America is in economic turmoil. The same banks who won't do business with him because he's the King of Debt, and bankruptcy.

This fool lost a billion dollars of his own money.

None of the money that these banks create is part of our national debt, until of course they fail and we have to bail them out.

The money you have saved can disappear, yet the debt you owe does not disappear. The people who own nothing can just declare bankruptcy, but those of you who have things will be forced to sell those things and lately, people you owe debt to can tack a lean against your home when your loan is paid off or if you own a home, this being allowed now by the courts. This includes our government......they can take a home for the cost of the nursing home under certain conditions.

and i thought that the debt has already exploded long time ago and reached the stratosphere, so what has changed ?
in every year the ceiling had to be raised, why are the concerns starting now ?

ahh i see its because Trump is the president, ok now i understand, go get him guys

originally posted by: seasonal
Ahhhh the debt. Now we can see what Trump is made of.
Will Trump sent Fed workers home for a paid vacation, or start the super painful process of living with in the means of our countries financial system? The debt ceiling was removing in 2015 so Obama didn't need to be bothered with such smallness. Now what will be the geniuses next steps?


So now the hangover from the party we have had with a no limit taxpayer credit card. In a classless move our spineless leaders removed the debt ceiling. This means spend what ever the flip you want. But March 15th is pucker time. What will Trump do?

Specifically, Congress passed legislation in late 2015 that suspended the debt ceiling through March 15, 2017. Until that date, the government can borrow whatever it needs to keep funding itself at levels approved by Congress.

www.washingtonexaminer.com...

jesus...don't you know that the debt ceiling is for monies ALREADY BORROWED AND SPENT!.....so you want America to crash and burn....do a little reading and research, because you are completely backward on this....

debt ceiling 101
1...congress and the president establish the costs of the government for the coming year, and sign off on that budget
2...if the inflow of taxes DOES NOT pay for all of the budget, the U.S. has to go out and borrow the money to make up the difference already spent.
3...the debt ceiling increases by that much

solutions to debt ceiling
1...raise the inflow of monies into the government to pay the bills due
2...cut next years budget
3...default on the governments treasury bonds

this isn't rocket science

a reply to: syrinx high priest

The question is will they raise it with or without spending limits attached. Democrats wanted it raised with no fiscal responsibility attached to it.

a reply to: seasonal

Your comment

1...congress and the president establish the costs of the government for the coming year, and sign off on that budget

Fact
Specifically, Congress passed legislation in late 2015 that suspended the debt ceiling through March 15, 2017.

a reply to: Dr UAE

I have been worried about the debt since Bush "won" the pres. This is not a concern for me.

but trump has big plans, ya know, expanding the military, building a wall, improving obamacare so that every one of us has affordable healthcare, ect...
he can't do any of that if he's strapped for cash.
so what do you think he's gonna do???

of course, he's been a rather big spender as far as his promises go, maybe he knew all along it was just alot of bs that he could get out of by just now asking yous what you do you want...
more runaway gov't spending, or sacrificing some of those wants for less gov't debt. heck, he's a deal maker, maybe he can talk some of our bigger debtors into taking a few states like alaska and california as payments for some of our debt..

a reply to: seasonal

The debt ceiling is such a ridiculous concept, and we're the only nation on Earth that has one.

Honestly, the best thing Trump could possibly do is to get Congress to remove the entire concept of a debt ceiling. The whole thing stems from a WW1 emergency bastardization of a poorly written segment of the House's duties in the Constitution. It should be fixed. And Trumps nearly got the numbers for the Constitutional Amendment it would require too.

originally posted by: jimmyx
debt ceiling 101
1...congress and the president establish the costs of the government for the coming year, and sign off on that budget
2...if the inflow of taxes DOES NOT pay for all of the budget, the U.S. has to go out and borrow the money to make up the difference already spent.
3...the debt ceiling increases by that much

solutions to debt ceiling
1...raise the inflow of monies into the government to pay the bills due
2...cut next years budget
3...default on the governments treasury bonds

this isn't rocket science

Sort of, but not quite. The debt ceiling is basically a credit limit. If the US has to borrow to make up budget shortfalls it can only do so if the debt ceiling is high enough. If the debt ceiling isn't high enough, then the US isn't legally allowed to borrow the money.

The whole thing stems from the Constitution and a WW1 policy. Basically, according to the Constitution Congress has to ok every purchase the federal government makes on an item by item basis. That's every purchase, from the number of rolls of toilet paper the Okalahoma Federal Building needs annually to the number of loaves of bread we send to China in foreign aid goods.

When WW1 happened, due to the sheer scale of the conflict, Congress could no longer keep up with micromanaging every little purchase and started ok'ing what were basically block grants of money to each institution to purchase according to their budgets. By the end of the war this practice morphed into the US authorizing a certain level of spending, and letting everyone make their own purchase decisions. This was the beginning of the debt ceiling. Since then, Congress just periodically (and with much political fanfare) increases the debt limit to authorize more spending.

It's an outdated concept and we could legislate it away with near zero impact on anything.

I am glad that someone else spotted this issue and story. The debt ceiling associated with the repeal/replace of ACA is probably the biggest issue facing America to date.

From what I read, the republicans committed to re-doing the ACA first before they will submit a substantive economic plan to congress. As of today, there is no final version of the revised ACA or a real budget plan with the debt ceiling issue coming next week.
We've got a major problem here and this will be a large mushroom cloud by the end of the next week. The stock market will most likely take a dump because of this and we will start to feel the pinch of a govt. shutdown a few weeks later.

All of this will be Trump's fault for burning up his political equity literally in the first week of office. Also, he was derelict in being attentive to this massive economic issue with no real solutions in sight.

But we already know Trump's deflection for his incompetence. He'll say that the downturn is Obama's fault (but he claimed credit for the recent market rise), but we all know it's because of his incompetence that we're going to have fed. govt. shut down.