Skip to comments.Obama to ask for debt limit hike: Treasury official
Posted on 12/27/2011 8:24:48 AM PST by Hoodat
WASHINGTON (Reuters) - The White House plans to ask Congress for an increase in the debt limit before the end of the week, according to a senior Treasury Department official.
The debt limit is projected to fall within $100 billion of the current cap by December 30. President Barack Obama is expected to ask for additional borrowing authority to increase the limit by $1.2 trillion.
Under the new budget, Congress can only vote to block the debt-ceiling extension with a disapproval resolution. Lawmakers have 15 days within receiving the request to vote down the debt limit increase.
The debt limit currently stands at $15.194 trillion and would increase to $16.394 trillion with the request.
(Excerpt) Read more at news.yahoo.com ...
Hey House of Reps: let’s re-elect the guy and let him raise the debt limit 1.5 Trill every 6 months. No problem.
Boehner.. FRench for ‘retreat’.
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
The request should be preceded by the words -
It is with profound shame and embarrassment that I come to you today asking you add to the already crippling mortgage burden you and I have laid on other people’s children.
Well said FRiend. I can’t wait to see what Standard and Poors does with our credit rating now.
“The request should be preceded by the words -
It is with profound shame and embarrassment that I come to you today “
LOL. You are right but the truth is Barry is sitting on the beach in Hawaii right now laughing his Kenyan behind off about how much the dims own McConnell and Boehner.
“Tea Party needs to be hitting the streets! Enough of this garbage.”
We need to burn up the phone lines to DC in January and let the Milquetoast Senate RINO’s know we expect the 1,000 day anniversary of no dim budget to be a big event. And throw in the joke 97-0 senate Barry budget for good measure. It would really resonate with voters (who must have a personal budget!) but they are apparently surrender monkeys afraid of fire from the MSM and the White Hut.
I guess those dried beans and rice I stored are gonna come in real handy.........................soon................
That’s a great graphic, except the budget “cut” is actually just a promise to boost the credit card at a slightly slower pace - - but the balance owed still goes UP.
From Zero Hedge. LOOK AT THE CHARTS!!!!!!!!!!
This is so discouraging.
Make sure that not all of your savings are in dollars
The fact that we are here today to debate raising Americas debt limit is a sign of leadership failure. Leadership means that the buck stops here. Instead, Washington is shifting the burden of bad choices today onto the backs of our children and grandchildren. America has a debt problem and a failure of leadership . Americans deserve better. I therefore intend to oppose the effort to increase Americas debt limit.
- Sen. Barack Hussein Obama, March 16, 2006.
I know this ain’t gonna happen but if somehow, CA Representative Tom McClintock became Speaker Of The House,we would see an end to this crap right away.
He must need the money to pay off his fat cat big bankers and failed green CEO’s.He needs impeached not re elected.
Based on the current Federal burn rate, this 1.2 Trillion will be expended by July nlt August. Which means another debt raise will be a major issue for the election; unless the Repubicans get weak knees again.
You mean- “Take the Boehner”?
sometimes I feel that is all lost...why bother anymore?...
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