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America Maxes Out Its Credit Card Again - Treasury To Raise Debt Limit By Another $1.2T On Dec. 30
Zero Hedge ^ | 12/27/2011 | Tyler Durden

Posted on 12/27/2011 8:34:14 AM PST by SeekAndFind

You didn't think US consumer confidence could be bought for free now did you?

And the piece de resistance that 100% debt to GDP brings:

Just as we thought the circus was over if only for a few weeks. Also, this means that in a few days, the US debt ceiling will be raised from $15.194 trillion to $16.394 trillion. As a reminder, US GDP was just revised down to $15.176 trillion.



TOPICS: Business/Economy; Government; Society
KEYWORDS: debt; debtlimit; treasury

1 posted on 12/27/2011 8:34:21 AM PST by SeekAndFind
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To: SeekAndFind
Courtesy of:



2 posted on 12/27/2011 8:37:11 AM PST by jimbo123
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To: SeekAndFind

Awwwww

Golly

Geee

Darnit!

And Congress is on their Christmas Holiday break until what, February?


3 posted on 12/27/2011 8:39:43 AM PST by TomGuy
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To: TomGuy

I always found intersecting lines interesting in math. Here we have falling GDP and rising debt. Didn’t economists used to have a warning about this? Shouldn’t there be a light at this intersection? Isn’t intersections where most traffic fatalities occur?


4 posted on 12/27/2011 8:43:55 AM PST by wastoute (Government cannot redistribute wealth. Government can only redistribute poverty.)
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To: SeekAndFind; All

HOPEY-CHANGEY!!
The debt limit was supposed to last until after the 2012 elections.

When the FED started buying securities to prop up the stock markets, I knew it wouldn’t last long.
It didn’t.


5 posted on 12/27/2011 8:47:09 AM PST by tcrlaf (Election 2012: THE RAPTURE OF THE DEMOCRATS)
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To: SeekAndFind

Hey! It was Christmas, dude! We can pay that shit off in January when our checks come!.....er, forgot about the Newports, the forties, the lotto and the Huggies....let’s make that February.....no, wait....the loan payment on the car title is due then....Okay...Okay...that refund anticipation loan for my EITC check will be here by March....Yeah....March...that’s it - we can make a payment on it in March....shit, they gonna charge up my EBT on March 1, anyways.......we rollin’ in it!


6 posted on 12/27/2011 8:49:20 AM PST by Gaffer
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To: jimbo123

Now there’s a group of my favorite a-holes.


7 posted on 12/27/2011 8:55:38 AM PST by Farmer Dean (stop worrying about what they want to do to you,start thinking about what you want to do to them)
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To: tcrlaf

That was quick, wasn’t it? And the borrowing is only gonna accelerate from here.

Our politicians have decided that Americans can’t be allowed to feel any pain whatsoever. Whenever someone proposes to cut (or not extend) any kind of benefit, the gallery of sobbing victims comes out for display. Of course, when the money tree is barren, its hurt like a real SOB.


8 posted on 12/27/2011 8:57:31 AM PST by rbg81
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To: TomGuy

Zombie government eats everything but brains.


9 posted on 12/27/2011 8:58:50 AM PST by cripplecreek (Stand with courage or shut up and do as you're told.)
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To: cripplecreek
Zombie government eats everything but brains.

In the current political climate, it'd starve to death trying to live off brains.

10 posted on 12/27/2011 9:04:11 AM PST by Smokin' Joe (How often God must weep at humans' folly. Stand fast. God knows what He is doing)
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To: SeekAndFind

High Treason.


11 posted on 12/27/2011 9:04:26 AM PST by Psycho_Bunny (Why do people keep telling me Killcult is a Religion Of Peace?)
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To: TomGuy

hate them all.....


12 posted on 12/27/2011 9:05:42 AM PST by cherry
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To: SeekAndFind

Woooo Boy! What was it - October when the one for all seasons was done? Is there any sanity or sense of responsibility left amongst the leadership of this republic - any at all? Money is being thrown around like pebbles in a windstorm and corruption has run amok. Who is getting all of this money? Well, I know, but is there no honor left? God help us!


13 posted on 12/27/2011 9:10:34 AM PST by Jukeman (No Romney, No Bush, No Trump. No, No, No. Never. Final Word!)
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To: SeekAndFind; FatherofFive

The only difference between these @$$h@t$ and group of drunken sailors, is that the sailors are forced to quit when they run out of money


14 posted on 12/27/2011 9:11:08 AM PST by verga (We get what we tolerate and increase that which we reward)
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To: Farmer Dean

My wife and I are about seventy years old and struggle to keep our little farm afloat. Don’t know how much longer we can manage and it just kills me to see the lack of economic fortitude or sanity possessed in government at any level. Money is blowing out of the windows like paper in a hurricane and who knows where it goes. This country is trouble. “God, bend down and hear our prayer O’ Lord and answer us for we are deep in trouble”.


15 posted on 12/27/2011 9:18:49 AM PST by Jukeman (No Romney, No Bush, No Trump. No, No, No. Never. Final Word!)
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To: verga

Assuming that state/local debt remains at 20 percent, and GDP remains flat this year this brings it up to 129 percent of GDP when all are combined.

This exactly matches the peak in 1946. The combined federal debt of 109 percent is slightly above the peak of 102 percent. Again, this assumes no change in the GDP.


16 posted on 12/27/2011 9:19:51 AM PST by BenKenobi (You know, you really need to break free of that Catholic mindset.- metmom)
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To: SeekAndFind

$1.2 trillion divided by 80 million taxpayers = $15,000 borrowed in the name of each US taxpayer. If you’re a household with two taxpayers Obama just borrowed $30k in your name.


17 posted on 12/27/2011 9:43:11 AM PST by The Duke
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To: The Duke

And these stupid idiots in Washington gave an increase in monthly benefits of 3.6 percent to ss recipients!!!!!!!!!!!!!


18 posted on 12/27/2011 10:43:16 AM PST by notaliberal
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To: SeekAndFind

The people at the top in all three branches of government are certifiably and criminally insane because no one with an ounce of common sense and decency would be doing something like this.


19 posted on 12/27/2011 11:04:06 AM PST by Jack Hydrazine (It's the end of the world as we know it and I feel fine!)
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To: SeekAndFind

While he is ON VACATION.

The _resident asks for Credit extension?

I think there may be a joke in this somewhere.


20 posted on 12/27/2011 11:04:26 AM PST by Dryman (Define Natural Born Citizen)
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To: SeekAndFind

Just shut the worthless federal govt down.
Sell its property and assets.
Hang all their upper management.


21 posted on 12/27/2011 12:53:20 PM PST by Joe Boucher ((FUBO))
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To: The Duke

..........again!!!!!!!!!!!!


22 posted on 12/27/2011 1:54:34 PM PST by sappy (criminaldems)
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To: notaliberal

This is why I’m doing what I can to be prepared for “the worst”.


23 posted on 12/27/2011 5:11:32 PM PST by The Duke
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To: notaliberal

This is why I’m doing what I can to be prepared for “the worst”.


24 posted on 12/27/2011 5:11:38 PM PST by The Duke
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To: SeekAndFind

I despise these people with every breath.


25 posted on 12/27/2011 5:16:52 PM PST by dforest
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To: notaliberal

The increase in SS to recipients will be taken back by the increase for medicare.

It is a big joke.


26 posted on 12/27/2011 5:20:37 PM PST by dforest
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