Skip to comments.Obama requests $1.2T increase in debt ceiling (Obama needs more taxpayer's money to buy votes)
Posted on 01/13/2012 3:44:33 AM PST by tobyhill
President Obama is kicking off 2012 with an uncomfortable but inevitable request -- for Congress to permit another $1.2 trillion increase in the debt ceiling.
With the U.S. debt at about $15.2 trillion, it is now estimated to be larger than America's entire economic output. The proposed increase would boost the debt ceiling to $16.4 trillion, which should be enough to allow the government to keep borrowing until the end of 2012, or just after the presidential election.
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So, Obama is adding over a trillion dollars to our debt every 4 months or so now? This is sheer insanity and a hard rain is gonna fall.
Maybe they will be calling this QE3 before long.
President Obama is kicking off 2012 with an uncomfortable but inevitable request — for Congress to permit another $1.2 trillion increase in the debt ceiling.
If congress allows itself to be snookered again...
Someone has to find the balls to cut off the drug supply to this addict!
WTF has happened to everyone...how can anyone imagine this could all end well!?
You see how much effect that spending is having on the unemployment rate-zero!
Why not? They abrogated responsibility long ago. And they’ll let him blame it on Bush.
Make it stop - please, somebody, MAKE IT STOP!!!
My gosh, when is this insanity going to end?
I know how to stop it. But they don’t let you discuss things like that here.
Like I said last year, we will be at 17 trillion before 2012 is over.
This one is on Congress and our Republican majority there.
I think you’re low.
Why does Hussein need to buy votes? Seems as if so-called conservatives are doing all his campaigning for him.
Scrawled in lipstick on the mirror in the West Wing of the White House: “Please catch me before I spend more!”
Where does Obama get the authority to keep spending at the level that creates these deficits? Bingo! We are operating on continuing resolutions based on the enormous FY 10 Budget. The Senate has deliberately failed to even vote on a budget since then (except for the joke that Obama sent up with even more spending - which even the Democrats in the Senate could not stomach). By using the CRA the Dems get to keep slushing it out to their constituencies as they force the Republicans to go along by creating crisis's over extensions of the CRA and debt ceilings, and, of course, the Republicans are blind to what is going on and lack the political will to do anything about it.
Lots of reasons, it will be interesting who they want to blame this time if the threat not to extend is made.
Supposedly nothing matters anymore because this is the year of the triple whammy. End of the Bush tax cuts, the beginning of Obama care tax hikes, and there is another leg to the stool I can’t remember that spells further disaster for the economy. Huh, it can be more disastrous than it is?
Probably so - get ready for a global crash and then global currency
The fact that we are here today to debate raising Americas debt limit is a sign of leadership failure. It is a sign that the U.S. Government cant pay its own bills. It is a sign that we now depend on ongoing financial assistance from foreign countries to finance our Governments reckless fiscal policies.
Increasing Americas debt weakens us domestically and internationally. 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.
The abomination that causes desolation is sure going to get a lot of worship by “saving” the starving masses with his global government.
No way another 1.2 trillion will get us through until the election,It might take us to the 4th. of July, but I doubt that.
Folks, it’s very, very simple. At the top levels of government, pretty much everyone is in on the scam. Nothing more, nothing less. There are a few outliers in Congress, but not enough to alter the course.
This ends with a crash. A big crash. With the powers that be hanging their heads in sadness, telling us what needs to happen next for the good of the country. It won’t be good, though. Get ready while you can.
PS - what happened to the debt commission and the automatic cuts if they failed? Where did the talk of the 400 Billion stimulus that was critical go? I thought the debt ceiling wouldn’t be raised again before the next election? All smoke and mirrors to buy time. Wake up, pay attention, and stop wasting time arguing the irrational argument. It’s what they want to distract us from the truth.
Anyone, who after observing this "continuing resolution" bullshit that has been going on since the Democrats took over control of Congress in '07, that has not come to the conclusion that the Republican Party is in cahoots with the Democrat Party is only deluding themselves.
What the Republicans in the House should have done way back when was say, "We are going to have a budget"! When the Democrats balked, shut down the Government until a budget was passed.
But there was a reason they did not do that. The reason? Then the Republicans would have to have done the things that they campaigned on and were elected to do. In the forefront was defunding obamacare.
I think this is a huge conspiracy. All the politicians are in on it. Raise the national debt as high as they can, steal the money and when America falters, they all go to somewhere else and live like kings.
Soon, I've been hearing rumbles that folks in other countries are not all that happy about accepting dollars from Americans traveling abroad, no first hand knowledge but no surprises. I've also heard that the Treasury has to offer T-bills backed by real estate to attract the interest of any buyers. In other words no one wants to buy our deft, or hold our debt (dollars). So the end is near and the end will be UGLY. Check out some of the recent threads on Greece for a preview. I advice stocking up now while your dollars will still buy stuff. For a thought experiment, imagine what happens should OPEC not accept dollars for their oil.
Yep and his false prophet will wow the scoffers and unbelievers by calling down fire from the sky in front of them. Then once they worship the image they will receive a mark so that they can buy and sell.
There are 535 men and women, if they are all in on it, not counting czars, the fed, the BIC, the men in black, the cabinet, Congressional staffers, and probably a few others needing the citizen trial. The last thing that is going to happen is they all fly off into the sunset to live like kings.
Economic collapse will bring retribution unlike anything congress has ever witnessed, and since I’m going to a birthday party for the only senator in my state worth talking too, this is going to be a subject of conversation. Hate to ruin a good birthday bash, but face to face deserves some worth while conversation regarding continuing the insanity.
Another $1.2 trillion increase in the debt ceiling because socialism needs a little more priming to take hold.
I surprised they are still even making new cash bills.
The “logic” for going cashless and the chip reading technology available will help it happen soon.
They are already chipping cards in Europe for security, and a lot of places in America have the card reader you wave your card by instead of inserting in a slot to read the strip.
Those little debit card microchip “marks” implanted can’t get easily lost or stolen, can they?
Folks are getting thir pets chipped nowadays as an alternative to the old “dog tags”.
By two times at least.