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

[SeekAndFind]

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

• U.S. TREASURY SAYS DEBT LIMIT TO BE RAISED BY $1.2 TRILLION
• U.S. DEBT TO BE $100 BLN WITHIN LIMIT ON DEC. 30, TREASURY SAYS
• STEPS FOR INCREASING DEBT LIMIT UNDER 2011 BUDGET CONTROL ACT

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

• OBAMA ON DEC. 30 LIKELY TO ASK CONGRESS TO RAISE DEBT LIMIT

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.

[Joe Boucher]

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

[sappy]

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

[The Duke]

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

[The Duke]

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

[dforest]

I despise these people with every breath.

[dforest]

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

It is a big joke.