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U.S. to hit debt limit before election day
Washington Examiner ^ | February 17, 2012 | Conn Carroll

Posted on 02/17/2012 7:06:02 AM PST by C19fan

he United States Department of Treasury will reach the the statutory limit it is allowed to borrow money before election day, according to a new study by Sen. Rob Portman, R-Ohio., former director of the U.S. Office of Management and Budget.

“Following the contentious debt ceiling last August, President Obama promised that he would take action to address the country’s fiscal crisis. He has failed to do that," Portman said. "In fact, his new budget increases spending and projects that Washington will be hitting the debt ceiling again in mid-October – burning through a $2.1 trillion debt limit increase in just over 14 months."

(Excerpt) Read more at ...

TOPICS: Politics/Elections
KEYWORDS: ceiling; debt
Time for a line in the sand but probably the GOP will cave in again.
1 posted on 02/17/2012 7:06:07 AM PST by C19fan
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To: C19fan
"Time for a line in the sand but probably the GOP will cave in again."

Obama would love it. "GOP threatens government shutdown" would blare the headlines and Boehner would cry a little on camera and then the GOP will reach across the aisle for the greater good and go back to sleep. Barf.

2 posted on 02/17/2012 7:18:47 AM PST by Truth29
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To: C19fan

Socialism always fails, always.

3 posted on 02/17/2012 7:25:18 AM PST by VRWC For Truth (Throw the bums out who vote yes on the bailout)
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To: VRWC For Truth
Socialism always fails, always

Yeah? Well, it seems to have a good foothold right here, right now...

Perhaps by "fail" you mean the same way some kind of virus - where it invades the host, bleeds it dry and then the host dies... but of course the virus dies (fails) as well.

This may be a good analogy of America and the "takers" whose numbers have grown to critical mass and we few antibodies are quickly becoming overwhelmed.

4 posted on 02/17/2012 7:35:24 AM PST by grobdriver (Proud Member, Party Of No! No Socialism - No Fascism - Nobama - No Way!)
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To: C19fan

Republican’s Maginot Line

5 posted on 02/17/2012 7:39:43 AM PST by Sopater (...where the Spirit of the Lord is, there is liberty. - 2 COR 3:17b)
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To: C19fan

It’s impossible for me to believe that they are not doing this intentionally. In his mind and the left’s mind he is accomplishing great things in office bringing down capitalism and the concept of American exceptionalism.

6 posted on 02/17/2012 7:40:29 AM PST by albionin
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To: C19fan
All this does is give the feckless Gutless Old Party another chance to reach across the aisle and fold their winning hand just before the election.

The Dems will threaten another "government shutdown" and the Vichy Republicans will wimper and cower and then give the Dems what they want all the while telling us it is "best for the country".

These cowards can stop this collapse and probable national crackup, but they won't. Ultimately, a lot of unneccesary American blood will be on their hands as well as those of the Democrats.

7 posted on 02/17/2012 8:03:01 AM PST by Gritty (Compromise that is not a solution is a waste of time. We either save this country or we do not-Rubio)
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To: Gritty

Obama faces another downgrade around election time, priceless.

8 posted on 02/17/2012 11:46:54 AM PST by Mike Darancette (Romney just makes me tired all over.)
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To: Mike Darancette
Unfortunately, that's us getting the downgrade.

If 0bama somehow doesn't get re-elected, he will just go take his fortune somewhere else and play golf. Maybe live at George Soro's pad. He could care less.

9 posted on 02/17/2012 1:34:31 PM PST by Gritty (Obama's populism's so crude it channels not Teddy Roosevelt so much as Hugo Chavez-C.Krauthammer)
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