U.S. Approaches $15 Trillion Debt Limit

I feel sorry for the financial system computers. They must be working overtime pushing all those zero's around.

“The budget should be balanced, the treasury should be refilled, public debt should be reduced, the arrogance of officialdom should be tempered and controlled, and the assistance to foreign lands should be curtailed lest Rome become bankrupt. People must again learn to work, instead of living on public assistance.”

Cicero realized this over 2,000 years ago yet look at where we are today. We can say with disgust that we are now $15,000,000,000,000 in debt. Perhaps when the American empire crashes down with the full force of the weight we carry for our arrogance towards the limitations imposed upon us by reality this nation can begin to rebuild. If you believe people, more specifically our government, will change anything without looking down the scepter of our angry modern God (Money), then I would like to know what world you live in.

reply to post by Anttyk47


Yes what a sick bunch of treason commiting criminals. The thought comes to mind. "Fifteen Trillion Lies" Thanks Neo. s/f

Originally posted by backinblack
reply to post by neo96

 

I thought the US debt was supposed to go down at some point..

Why are they still spending more than they are receiving??

It can't go down, just ask the guys at the Pentagon. Black projects are sucking up the billions and there is no oversight by the government.

Shut down the pentagon and the problem is solved, anybody for wishful thinking ??

Ironic, that in the past few months, that, according to the latest audit of the Fed, they loaned out 16 trillion at zero per cent interest, some of it going overseas.

Also, remember when Rumsfield said that the DOD lost a trillion somewhere? Where did it come from? The DOD budget was nowhere high enough for them to have had that kind of cash. A trillion here, a trillion there, what the heck?

What if the Fed had printed off all of America's debt instead?

1 trillion seconds, or roughly 31700 years...
The average person doesn't even live a trillion seconds.

Call me whatever you want but I don't understand how any political party could defend any increase in spending!

At this time, I could care less who spent more than the other, I could care less how we got to this catastrophic amount.
What we need is a serious leader to control it.

After it's containable, sure then we should examine closely how we got here and take the necessary measures as not to allow this to get out of control again but at the moment, we need to go into "stat" mode

The ancient Romans didn't learn their lesson, Europe both old and new didn't learn a lesson, England hasn't learned a lesson. What makes anyone think the US is going to learn a lesson!a That's not a question... That's a wake up statement. Every major culture/government seems to think it can't happen to them, yet here we are, looking a China and a few others who are going to be the leaders for a while.

the page showing what a trillion dollars in 100 dollar bills looks like . is a stack 6 feet high but maybe 100 feet long . Now that you have seen that photo image that same stack but 90 feet high by 100 feet long all 100 dollar bills . Ok now lets imange for a mint this money was acutely available right now .Bet you nthink your rich dont you . well now theres 15 trillion dollars in real live money a loaf of beard will cost you 1000$
Rember how supply and demand works? more you ahve less its worth thats why a bic lighter is 1$ if there was only one

Originally posted by Agent_USA_Supporter
reply to post by neo96

 

Maybe People should be listening to Ron Paul Now

I'll always be Ron Paul, but people don't marijuana legal, he wants IRS gone, he wants no taxes on Americans, the list goes on and on...Or this was his argument last election. He's sitting at 8% right now dead last.

If you want to understand the implications and how the whole of the Debt Deal was a slap in the face of Constitutional Government -- I suggest you read this Debt Deal: Further Destruction of Constitutional Government.

Yeah, its a shameless plug, but it gives background and just what will happen (in a very nefarious manner -- thank you Congress for abdicating your enumerated powers) when we get within 1 (correction, not trillion -- billion) of the current debt limit.

I can assure you that Congress will not say a word and the President, unilaterally will decide we can spend more money

ETA -- Look forward to $1.2 trillion debt ceiling de facto increase. Luckily Congress is full of morons and couldn't come up with a balanced budget amendment and we are spared from a requisite $1.5 trillion increase.

/Start_chanting_now Trigger trigger trigger!

Frankly, the House and Senate will let it blow, then rewrite a new ruling, etc.

Then if we are lucky it'll become a real legal fight for a change.

Not that I want the to screw us all over in the process, but hey, it was the Tea Party & Those that signed off on Grover Norquist's pledge... so frankly I want them to bend over and to scream.


M.

reply to post by neo96


Who do you suggest that we vote for, since the GOP candidate will continue to pile up the debt just like Obama.

Originally posted by Saltarello
I must say: again? So fast? Was the cap not raised mere "weeks" ago?

Yes it was, August 2nd to be precise, but what they didn't tell you is when that was passed we were already 250 billion over the limit.

When you are running a deficit of 150 billion a month it does not take long to go through the remaining 650 billion of the 900 billion or so it was raised. To put that in perspective the Bush administration ran a deficit of 2 trillion for the whole 8 years, we now are close to 2 trillion deficit PER year.

Nobody who has a chance at winning is committed at all to lowering the deficit. They know it is political suicide because the public is oblivious to how bad things really are and the cuts that would be necessary to get it under control. Instead they are going to let everything collapse and try to scapegoat someone else, likely Europe, the big banks etc. They will try and shift the blame from themselves when they are very much partially responsible for the situation.

We are headed for certain economic collapse, but probably not from this problem, but more likely from the collapse of the major banks and the money required to bail them out or pay out FDIC insurance if they are allowed to fail.
Europe will detonate and soon, when they do it will not be long before the same happens here.

Origin_javascript:underline()ally posted by proximo

Originally posted by Saltarello
I must say: again? So fast? Was the cap not raised mere "weeks" ago?

Yes it was, August 2nd to be precise, but what they didn't tell you is when that was passed we were already 250 billion over the limit.

Again, the beauty of the whole Debt Deal -- err, sorry -- Budget Control Act of 2011 was that Congress passed on its Constitutional authority and gave (of which it wasn't theirs to give) the President authority to raise the limit unless Congress passed a resolution denying the President the ability to do so. Of course, such a resolution is held under threat of a Presidential veto.

Since the first stipulation (the first raise of the debt ceiling in August as you have stated) has come and gone, we are now faced with the potential (and my guess, absolute raising of the limit) of a nice hefty $1.2 trillion dollars.

As I have stated in my thread from just after this bill originally passed -- we are lucky that the morons in Congress didn't present a Balanced Budget amendment to the States or we would be looking at an automatic $1.5 trillion increase.

Where is the Tea Party? Where is OWS? Where are the People on this? Silent and hoping to get by another month for the most part. All parties are implicated in this mess.

Im sorry but you cant put the blame of ALL this at the feet of Obama.

BUSH drove the car into the cliff.. just because Obama took over when it went over doesnt mean he's the ONLY one to blame.

However, 911 and the economy prove Bush and Obama work for the same cabal. So all in all it makes no difference.

Originally posted by Agit8dChop
Im sorry but you cant put the blame of ALL this at the feet of Obama.

BUSH drove the car into the cliff.. just because Obama took over when it went over doesnt mean he's the ONLY one to blame.

However, 911 and the economy prove Bush and Obama work for the same cabal. So all in all it makes no difference.

Any increase after the Budget Control Act of 2011 absolutely is placed squarely upon President Obama. And if you want to get technical -- before the Budget Control Act of 2011, the blame is spread to both Congress and the President, but more so on Congress.

President Bush had, and President Obama has, a veto pen....I think. Bush rarely used it and Obama has only used it twice -- on very pointless bills.

But to stick your head in the sand and say it was all Bush's fault is failing to even recognize the problem as it is today. As it is now, the President was given free reign from a pussy Congress to raise the limit because he feels it needs to be raised.

If you had bothered to actually read what i was saying, you'd see i said the blame lands on them BOTH!

People say its Obama
People say its Bush
I'm saying they both did this.

Stop jumping on him every chance you get.

However, I'm pretty sure the Bush Iraq War, the Bush Bank Bailouts, the Bush Rich Tax Cuts contributed MASSIVELY to the current economic crisis.

Also, I believe when Lehman went belly up in 2008 was when BUSH was in charge, he oversaw everything when that occured and THAT is what the experts are saying tipped the first domino in this global issue.

Obama hasnt done enough to stop the rot and reverse it, so he is equally to blame.

Get it? or is that to logical and mature that im not blaming ONE or the OTHER!?

reply to post by Agit8dChop


Calm down -- doesn't it get tiresome to be so pissed off all the time? I was responding in general to your post and you took it very, very personal.

In essence, I was expanding exactly what you said, but since this is a thread on the current debt limit, the focus will be -- and rightly so -- on President Obama. The main reason being is it is he, not Congress (thanks to the BCA of 2011), to raise the limit unilaterally. In fairness, it isn't exactly President Obama, but rather the Secretary of Treasury that does it under the authority of the President.

You will be hard pressed to find any love coming from me for any president really. But I also am versed in civics and understand that the President isn't the only player. Nearly everyone levies the blame onto the President when all the money was appropriated in the halls of Congress.

So on topic, yes -- the blame goes to the man that will make the limit happen unless the idiots in Congress actually say no. It is so backwards and a complete disgusting black-mark on Constitutional Government that the bill was even produced and that the President -- a self professed Constitutional scholar -- signed the bill.

Forgive me if I levy the blame on President Obama. It is where it lies in regards to this.

So there's now around 2,142 times the world population in American debt ALONE!
Up next GDP gets surpassed around Thanksgiving.
And I just can't wait to help get the guys out of Congress and the Oval Office next year.