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 ...
say I owe the bank 50 grand and borrow another 10 grand then in liberal logic my debt decreases.
FOR CRYING OUT LOUD WILL THESE IDIOTS ON THE LEFT GET HALF A BRAIN.
The more you borrow the more debt you go in , FRIGGING IDIOTS.
This is all part of the unread part of the budgetary SCAM Boener and the rest of the incompetent traitors voted for back then.
See - we were TOLD that there could be no further debt limit deals without massive cuts by that unconstitutional “super-committee”.
Unfortunately, the idiots fell for the rest of the scam - leaving a wide-open door for Obama to get to raise the debt ceiling without Congress even having to approve of it. The only way to prevent another debt limit raise is for CONgress to vote NO (that would be BOTH HOUSES). So Obummer just had to wait until CONgress adjourned for the Christmas/Holiday break, then raise the debt limit. Congress won’t be back in “business” for anything in 15 days - and even if Boehner could grow a pair and call CONgress back to vote this down (which he is unlikely to do), Reid won’t - so Obama gets his additional cash to buy more votes and to pay off his political buddies - all without Congressional authorization (because they already gave it to him).
The government never has enough of your money.
Just think. Barry Soetoro, the wife and kids will be out of the White House and sitting on their asses on some beach in Hawaii someday while we’re all going to be stuck with paying these trillions of dollars back. The people living in this country are fools. I wonder if those morons have a plan.
Some Facts About the Debt Limit
Some Facts About the Debt Limit
Of the $14.3 trillion debt ceiling we have now, $4.5 trillion got added by Democrat-controlled Congresses since taking control in 2007. That corresponds exactly with the expansion in spending by Democratic Congresses over the same period:
It happens every time. I’m 53 years old and as long as I’ve been alive, the GOP has caved like “gentleman” and given in to the leftists. Puke. I want street fighters. I want my politicians to gouge eyes and kick groins.
The sad fact is, the GOP truly is socialist lite. We conservatives have no representation.
If the Tea Party would become a true political party and run 3rd party candidates, I would support them and quit voting GOP. Screw Perry and Gingrich. I know it might be throwing my vote away, but if the Tea Party declared as a political party and ran conservative candidates and had its own PAC and organization, I would happily vote for the Tea Party candidate.
I’m getting to the point where I may not be able to support the lesser of evils much longer and either start voting 3rd party or just go Galt and quit voting altogether.
I don’t want to go there, but my primary vote hasn’t counted in decades. I always get a RINO GOP establishment candidate shoved down my throat.
I’m very close to going Galt. I’m 2 more idiot GOP surrenders away from writing in Palin for President and you know what that is? That is a vote for Obama, my FRiend, and I am on the verge of “frankly my dear”, not giving a damn.
The Gelded Old Pansies fights by Marquess of Queensberry rules in a street fight with brawlers.
During the debt ceiling “fight” the debt ceiling was at $14.3 trillion. When Congress surrendered and agreed to the Senate deal put out by the Democrats, they authorized raising the debt ceiling by an additional $2.1 trillion to $16.4 trillion. They did not ask for it at that time, just authorized it.
The details are here.
All they are doing is going through the motions to raise the debt ceiling to the authorized amount of $16.4 trillion. This is no surprise. We knew Obama would spend every penny the gutless GOP agreed to. We, the American People, lost the debt ceiling battle the moment the GOP caved and agreed to the Senate proposal.
That said, this is not a NEW debt ceiling increase & fight. That will be coming up shortly, since Obama & Reid know they can count on McGutless & Boner to cave in to them over and over, like Lucy pulling the football away from Charlie Brown over and over. But that is not happening at this time. They are just raising the debt ceiling to the full amount the cowardly yellow GOP agreed to.
Opps, I forgot to post that link to the details of the August agreement:
It is bloomberg, so no excerpt allowed.
Bingo. The RINOs bring a letter opener to a gun fight. They can’t even muster a sharp knife.
What an embarrassment, but worse than that. There goes our constitutional Republic down the drain. I thank the Lord in Heaven that I lived when a remnant of freedom for man still existed in the USA. I fear for future generations that they will not know freedom. It has taken me all my 53 years to fully realize that I didn’t have a modicum of freedom that Americans had pre-Civil War, let alone pre-1960s. But at least I had a good measure of it in my lifetime. 50-100 years from now, there will only be regulated, controlled oppression.
It is so sad what we are losing and the GOP are complicit in assisting the DNC and MSM traitors.
I don't think so. Way before we get to a "1984" lifestyle, I think there will be a second Civil War that will be about as big and divided along the same lines. We need the socialist/individualists to have it out. Let them have there Socialist Utopia, we need to carve out a large chunk for the New Republic.
The groundwork for The Next Great Republican Capitulation is being laid even as we speak.
The smell of BoehnerDefeat hangs heavy in the air, as our grandchildren head off to lifelong debt slavery. Because you KNOW he’ll cave.
Actually, it is a vote for Palin. Nothing more and nothing less. You're still allowed to vote for whomever you choose in this country, at least until Der Leader dissolves Congress.
nations borrowing NEEDS ???
are we building a new mcmansion for the jeffersons ???
any of us *plannin* the future use of buying gas and groceries, and payin the mortgage AND the other credit cards by using a cc, we'd be in the streets pretty quickly...
serious question, do we spend the first cent on foreign aid to coountries that are buyin our toxic paper ???
i know thats just a drop in the bucket,even though we cant seem to produce the required ships and planes for actual Constitutional duties, but im lookin at the principles involved, and the overwhelming evidence of kabuki three card monte being run by both parties...has been for a long time, and isnt going to stop until the boss makes em stop...