Skip to comments.Here We Go Again: US $25 Million Away From Debt Ceiling Breach
Posted on 01/05/2012 1:31:25 PM PST by RobertClark
It's simply amazing how quickly the US managed to hit its debt target, pardon, debt ceiling all over again...And now the Social Security Fund pillaging begins anew until Congress signs off on the latest interim debt ceiling increase.
Where on Earth does all this money go?
Make yourself look like a fool, then bounce him a check, Mr. Boner.
Not raising the debt ceiling = instantly BALANCED BUDGET! This is the easiest way to get a balanced budget. The Congress wouldn’t have to bother negotiating with Senate democrats or veto threats from Dear Leader. The House simply needs to take the approach that we will no longer spend more money than we take in through taxes and revenues. Problem solved. Why is this so difficult?(assuming that the “conservatives” truly mean what they say)
I know I’m dreaming, given how it’s an election year and all, but it would be nice if we had some representatives with a backbone that would do the right thing, even if it means losing their seats.
The media and dems are going to hate the republicans either way. Since they’re going to catch hell, they might as well catch hell for doing the right thing!
Got that right LLS
Thank you brother!
LOL ,another deadline from “Deadline Barack”
That’s only 5 Obama family vacations away....
If we were only $25 million away from the debt ceiling then we blew past that a couple minutes after the article was written. That number doesn’t sound right.
Spending and borrowing are two different things. Yes, the federal government has likely spent multiples of this amount since the article was written this morning. However, it was pulled from the cash proceeds of recent bond auctions or open market activity by the Fed. We may have a few bucks laying around to spend still, we just can't have a bond auction, lest we shatter the debt limit.
“And now the Social Security Fund pillaging begins anew.”
Sorry but it is not beginning anew, it is not pillaging, and their is NO Social Security Fund. Social Security is now what is has always been which is a tax now spend now transfer the wealth Ponzi scheme. You could also call it welfare.
The so called fund is a pile of US Government bonds which can only be redeemed today through today’s taxation. Tomorrow’s redemption will come through tomorrows taxation.
Before the flaming starts let me add: Yes you worked hard, it was most certainly taken from you, I know you were promised, sure the money was wasted, it may be all you have, and if those politicians just would take better control of it, all be o’k.
Social Security is a purely political vote buying scheme that is making more and more people reliant of the US government for their very existence. It could all be ended in one vote if we wished to make it go away.
Haven’t you heard? obama believes it’s his obligation to do what needs to be done when congress won’t do it. So, congress doesn’t raise the debt limit? No problem. obama ignores them. In fact, he’s been operating without a budget since he took office. Why worry about one now?
Why not just raise the debt ceiling $10 Trillion? That way, we will only have to put up with the DC Drama Queen act every 5 years, instead of every few months.
I think it’s so difficult because the amount of revenue we take in isn’t enough to pay for the costs of Medicare/Medicaid, Social Security and Defense, let alone the rest of the government. If they refuse to raise the limit then Obama has his choice of who to offend and who gets the blame. They literally could have no electricity in the House.
I'd call that a good start, anyway.