Keyword: ceiling

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  • Debt Ceiling

    03/22/2014 2:43:43 PM PDT · by MosesKnows · 4 replies
    3/22/2014 | MosesKnows
    Debt Ceiling I hear reference to the number of debt ceiling increases as the main factor when comparing presidents. I usually hear that Reagan raised the debt 18 timed. A little research at the Office of Management and Budget web site reveals this is true. The debt ceiling spreadsheet data is from 1940 to the present. I did infer the following from Table 7.3, Statutory Limits on Federal Debt 1940-Current. President Reaganapproved of increasing the debt ceiling 18 times for a total increase of $684.4 Billion, $684,400,000, $684.4 thousand million. President George H.W. Bush approved of increasing the debt ceiling...
  • Obama signs increase in U.S. debt ceiling (thru March 2015)

    02/15/2014 6:56:11 PM PST · by NormsRevenge · 27 replies
    Reuters on Yahoo ^ | 2/15/14 | Steve Holland - Reuters
    RANCHO MIRAGE, California (Reuters) - President Barack Obama signed legislation on Saturday that raises the U.S. debt limit through March 2015, taking the politically volatile issue off the table with congressional elections coming up this November. Without an increase in the statutory debt limit, the U.S. government would have soon defaulted on some of its obligations and would have had to shut down some programs, an historic event that would have caused severe market turmoil. On a long holiday weekend in a desert resort area in southern California, Obama put his signature on the legislation without fanfare, while behind closed...
  • The Word That Changed the Debt Ceiling Debate ("Default")

    02/12/2014 5:06:51 PM PST · by Timber Rattler · 5 replies
    Politico ^ | February 11, 2014 | DOUG HATTAWAY and STEVE PIERCE
    When Treasury Secretary Jack Lew recently gave notice that the federal government would once again hit the debt ceiling in February, the response from congressional Republicans—who twice took the nation to the brink of default—was decidedly muted. The official line? “We believe that defaulting on our debt is the wrong thing,” says House Speaker John Boehner (R-Ohio). “We don’t want to do that.” On Tuesday, the House duly voted to raise the debt limit without conditions, sending the action over to the Senate. This move represents a 180-degree turn from the previous strategy of trying to extract concessions from Democrats...
  • House passes debt-ceiling increase with no add-ons

    02/11/2014 2:35:53 PM PST · by Red in Blue PA · 206 replies
    This is a developing news story. An earlier version of the article follows: House GOP leaders announced Tuesday they will advance this week an increase in the government's borrowing cap that's free of any add-ons. A vote is scheduled for Tuesday night because of the threat of a winter storm. House Speaker John Boehner announced the plan after a poll of the Republican rank and file failed to show enough support for a plan to tie the hike in the debt limit to a plan to reverse a recently passed cut to military pensions. The Ohio Republican said he expected...
  • US to get approximately $17.2T debt limit Friday

    02/07/2014 11:13:26 AM PST · by mdittmar · 22 replies
    ABC News ^ | February 7, 2014 | ANDREW TAYLOR Associated Press
    The U.S. government is getting a new borrowing cap Friday, almost four months after Washington defused October's government shutdown and debt crisis. The new cap on borrowing is expected to be about $17.2 trillion. It means Treasury Secretary Jacob Lew will have to employ bookkeeping maneuvers to keep the government functioning until Congress further raises the borrowing limit. Lew warns he has less maneuvering room now than he had last year, when such "extraordinary measures" bought five months of time for the government to keep borrowing while at the previous $16.7 trillion debt ceiling. Lawmakers temporarily suspended the borrowing limit...
  • US deficit to drop to $514B, lowest of Obama years

    02/04/2014 9:42:18 AM PST · by ColdOne · 22 replies
    cnsnews.com ^ | 2/4/14 | ANDREW TAYLOR,Ap
    WASHINGTON (AP) — The U.S. budget deficit is set to fall to $514 billion this year, down substantially from last year and the lowest level by far since President Barack Obama took office five years ago, a congressional report said Tuesday. The Congressional Budget Office credits higher tax revenues from the rebounding economy and sharp curbs on agency spending as the chief reason for the deficit's short-term decline. But the budget experts see the long-term deficit picture worsening by about $100 billion a year through the end of the decade because of slower growth in the economy than they had...
  • CNN/ORC Poll: Debt Ceiling blame game. Majority will blame Republicans if debt ceiling not raised.

    02/04/2014 9:24:42 AM PST · by SeekAndFind · 23 replies
    More Americans would blame Republicans in Congress than President Barack Obama if the nation's debt ceiling is not raised, according to a new national poll. The release of the CNN/ORC International survey on Monday came as Treasury Secretary Jack Lew issued yet another public warning to Congress to act quickly to extend the nation's borrowing authority. Fifty-four percent of those questioned say they would blame the GOP in Congress if the debt ceiling isn't raised, with 29% saying they'd hold the President more responsible. Twelve percent say they'd point fingers at both sides. The numbers are little changed from last...
  • Countdown: US Hits Debt Ceiling in 84 Days

    11/16/2013 4:15:22 AM PST · by stevie_d_64 · 22 replies
    Breitbart ^ | November 15, 2013 | Mike Flynn
    Twelve weeks from today, the US government will hit its borrowing limit. When Congress lifted the debt ceiling last month, for the first time ever, it pegged the increase to a specific date, rather than a dollar amount. The current borrowing authority expires in just 84 days, on February 7th.
  • There’s no actual debt ceiling right now

    10/17/2013 2:21:46 PM PDT · by servo1969 · 13 replies
    The Daily Caller ^ | 10-17-2013 | Alex Pappas
    There’s no actual debt ceiling right now. The fiscal deal passed by Congress on Wednesday evening to re-open the government and get around the $16.4 trillion limit on borrowing doesn’t actually increase the debt limit. It just temporarily suspends enforcement of it. That means Americans have no idea how much debt their government is going to rack up between now and Feb. 7, when the limits are supposed to go back into place and will have to be raised. There is no dollar amount set for how much debt the government can accumulate between now and then. The suspension strategy...
  • Looking to make a 1 page, 2 sided flyer on the debt/debt ceiling...

    10/16/2013 8:19:20 AM PDT · by TurboZamboni · 7 replies
    muhself ^ | 10-16-13 | TZ
    any suggestions? my idea was to use Dem quotes, who made the quote, where and the date on page one and fun debt facts on the reverse side. put your suggestions and fun facts below...no internet links please-this is for print only . I plan to leave them at places where people sit alone and think- bathrooms, bus stops, etc.
  • Why Refusing to Raise the Debt Ceiling Will Not Result in Default on American Debt

    10/15/2013 1:30:10 PM PDT · by honestabe010 · 7 replies
    Red Dirt Report ^ | October 15, 2013 | Brian Woodward
    The media, members of Congress, and the President of the United States have gleefully disseminated misinformation about what would happen if we do not raise the debt ceiling by October 17th. The biggest blow these lies encountered was when Moody’s, one of the nation's top credit rating agencies, released a memo on October 7th stating: “We believe the government would continue to pay interest and principal on its debt even in the event that the debt limit is not raised, leaving its creditworthiness intact...The debt limit restricts government expenditures to the amount of its incoming revenues; it does not prohibit...
  • Gov't Default Concerns Overblown, But Sing Along With The "Raise The Debt Ceiling" Rap

    10/15/2013 12:34:14 PM PDT · by whitedog57
    Confounded Interest ^ | 10/15/2013 | Anthony B. Sanders
    While the media and Democrats scream about the Titanic sinking of government default, there is scant evidence in financial markets of it. Here are two curves as of 1pm EST, the US Treasury yield curve and the US credit default swaps curve. The Treasury curve is upward sloping while the CDS curve is downward sloping. Actually, the CDS curve has an inverted hump. ustcdes1015E It does look like a bomb crater rather than a typical CDS curve. If we look at 1 month ago, we see an upward sloping CDS curve. 1moyccds And if we compare the current curves compared...
  • Congressman: 'Constitutional Crisis' if GOP Caves on Debt Ceiling

    10/15/2013 10:34:02 AM PDT · by 11th_VA · 62 replies
    http://www.breitbart.com/Big-Go ^ | 15 October 2013 | Matthew Boyle
    On the House floor on Monday, Rep. Tom McClintock (R-CA) argued that President Barack Obama’s activities during the government shutdown over Obamacare are a sign to him that Obama would act nefariously to attack the full faith and credit of the United States of America by taking the country into a default in a debt ceiling crisis if the president does not get everything he wants in negotiations. “Given the ruthless and vindictive way the shutdown has been handled, I now believe that this president would willfully act to destroy the full faith and credit of the United States unless...
  • How would Donald Trump negotiate a debt ceiling deal?

    10/14/2013 6:41:47 AM PDT · by sheikdetailfeather · 24 replies
    Fox News ^ | Oct 14, 2013 | Fox & Friends
    The Donald weighs in
  • Isn't not raising the debt ceiling the same as spending cuts?

    10/14/2013 4:40:56 AM PDT · by Usagi_yo · 13 replies
    10/14/13 | Vanity
    I don't understand how not increasing the debt ceiling is going to cause a default. Defaults come from not paying debt. Besides, borrowing money to pay money owed is not a good budget plan. Can't the GOP pass a bill releasing the funds to pay our debt while holding back the debt ceiling increase .... wouldn't that amount to a spending cuts and can't we capitalize on that?
  • Debt Nation: Consumer Debt Tops Record $3.04 Trillion, But Money Multiplier/Velocity Decline

    10/13/2013 12:33:20 PM PDT · by whitedog57 · 12 replies
    Confounded Interest ^ | 10/13/2013 | Anthony B. Sanders
    According to The Federal Reserve G.19 Report for August, consumer debt topped $3 trillion! Of course, Federal government debt has topped $16 trillion, over 5 times the amount of consumer debt. Note that pickup in Federal debt growth compared to consumer debt growth after Q2 2008 (red box). feddebtconsumer Here is a chart of revolving consumer credit versus non-revolving credit. Non-revolving debt (e.g., auto loans) have effectively replaced revolving debt. revnonrev Business loans have finally grown past the prior peak in 2008. frbusloasn On the government side, current expenditures (purple line) continue to grow, but the rate of growth flattened...
  • Obama flips 2011 script in new debt ceiling fight with Republicans (Hussein's 'flexibility'?)

    10/06/2013 4:23:34 AM PDT · by Libloather · 9 replies
    The Hill ^ | 10/06/13 | Amie Parnes
    President Obama is taking a completely different tack in this year’s budget fight than in 2011, when talks with congressional leaders ended with him at a low point in his presidency. Administration officials and White House allies argue Obama learned from his mistakes in that round, and that this underscores his decision to not negotiate with Republicans over raising the debt ceiling and ending the government shutdown. “Nope, nope, nope,” one senior administration official said when asked if Obama would bend on the latest round of debt ceiling negotiations. “He’s not budging. Not this time.” “We took John Boehner at...
  • Mark Levin: Obama is preparing to destroy the role of Congress by unilaterally ignoring debt ceiling

    10/05/2013 8:12:35 PM PDT · by Texas Fossil · 27 replies
    Jen Kuznicki (Conservative Writer) ^ | October 4, 2013 | Jen Kuznicki
    (Mark Levin has laid out last night what Obama’s plans are should the Republicans hold the line and refuse to increase the debt ceiling. We have been here before, as I found it important to write about two years ago when Obama and the media were considering the unconstitutional and impeachable option of using the 14th Amendment to bypass Congress on the debt ceiling.I felt compelled to partially transcribe Mark’s commentary from last night’s show, because it is very important that we get this information to our Republican members of Congress. I have linked to the relevant articles and podcast...
  • Niall Ferguson: The Shutdown Is a Sideshow. Debt Is the Threat

    10/05/2013 6:57:02 AM PDT · by TurboZamboni · 11 replies
    WSJ ^ | 10-4-13 | Niall Ferguson
    As anyone can see who reads the most recent long-term budget outlook—published last month by the Congressional Budget Office, and almost entirely ignored by the media—the question is not if the United States will default but when and on which of its rapidly spiraling liabilities. True, the federal deficit has fallen to about 4% of GDP this year from its 10% peak in 2009. The bad news is that, even as discretionary expenditure has been slashed, spending on entitlements has continued to rise—and will rise inexorably in the coming years, driving the deficit back up above 6% by 2038. A...
  • Mark Levin Warns: Obama is Planning to Raise the Debt Limit Unilaterally

    (I'm paraphrasing, so I highly recommend listening to the podcast, beginning about half-way through.) In his 10/3/13 broadcast, Mark warns that, based upon Obama's inflammatory rhetoric regarding the debt ceiling, and the supposedly impending "default" on our debt, that Obama plans on acting unilaterally to over-spend the debt limit. Mark correlates a couple of facts. The first is that Obama is harping on "default." Most pundits are reading this as a means of "talking down" the economy, in order to blame the "Republican shutdown" for a weakening economy. But Mark believes that Obama is laying the groundwork for overspending the...
  • The Debt Limit, The 14th Amendment, And The GOP

    10/03/2013 4:55:45 PM PDT · by Wisconsinlady · 12 replies
    The Market Ticker ^ | 10-03-13 | Karl Denninger
    I have wondered for quite some time why Obama, Reid and Pelosi have been screaming so loudly about not prioritizing and "causing" a default. After all, it's not a default if you cannot pay for every program that was appropriated. You're just not keeping your political promises, which may***** off voters but isn't a default. A default is exactly one thing -- the non-payment of coupon or principal when it comes due. Now I understand the reason -- the 14th Amendment doesn't empower The President to raise the debt ceiling on his own. No, the 14th Amendment requires him to...
  • Why We Need the Full Faith and Credit Act

    10/03/2013 4:18:47 PM PDT · by TurboZamboni · 6 replies
    Daily Beast ^ | 5-9-13 | Jhhn Avlon
    The debt ceiling should really be renamed the default ceiling. This catastrophic game of chicken cost the U.S. our AAA credit rating and $19 billion when it was last employed in the summer of 2011 by House radicals who pretended their intransigence was a stand for fiscal responsibility. Now the default ceiling is looming again, promising yet another showdown between President Obama and House Republicans. But even Speaker John Boehner realizes that the 50 or so radicals on the far right of his own party—the Bachmann, Broun, Gohmert and King crew—are the greatest impediment to responsible self-government right now. That’s...
  • Government shutdown: Senate sends Obama military pay bill

    09/30/2013 2:56:59 PM PDT · by familyop · 39 replies
    Politico ^ | 30SEP13 | AUSTIN WRIGHT
    A House-passed bill to ensure the military gets paid under any government shutdown was approved without dissent in the Senate on Monday — a rare bipartisan agreement as Congress stumbled toward midnight when the fiscal year ends and current appropriations expire. The measure, now on its way to President Barack Obama’s desk, would also ensure continued pay for civilian employees of the Defense Department and Pentagon contractors whom Defense Secretary Chuck Hagel determines “are providing support to members of the Armed Forces.” Put forward by House Republicans, the bill is considered good politics for the GOP, since analysts suggest the...
  • House, Boehner Cave To Reid And Obamacare On Debt Ceiling: Delay Obamacare For 1 Year

    09/29/2013 11:35:15 AM PDT · by whitedog57 · 25 replies
    Confounded Interest ^ | 09/29/2013 | Anthony B. Sanders
    The House passed a continuing resolution without Obamacare funding, the Senate put Obamacare back in the continuing resolution, and now the ball in the House’s court with only days to go …. to government shutdown! The Republican-led U.S. House voted to attach a one-year delay of Obamacare to a must-pass spending bill, dramatically raising the likelihood of a partial government shutdown Oct. 1. So, it appears that Senate Democrats will shut down the Federal government, at least for a few days, if they don’t go along with Boehner’s demands of … delaying Obamacare for 1 year and getting rid of...
  • Obama’s claim that non-budget items have ‘never’ been attached to the debt ceiling (4 Pinocchios)

    09/19/2013 1:40:08 PM PDT · by 11th_VA · 4 replies
    Washington Post ^ | 19 Sept 2013 | By Glenn Kessler
    Headline says it all
  • Obama: "Raising the Debt Ceiling...Does Not Increase Our Debt," Though It Has "Over 100 Times"

    09/19/2013 7:07:46 AM PDT · by Biggirl · 13 replies
    CNSNews.com ^ | September 19, 2013 | Craig Bannister
    In a speech at the Business Roundtable headquarters in Washington, D.C., Obama dismissed concerns about raising the debt ceiling by noting that it'd been done so many times in the past. "Now, this debt ceiling -- I just want to remind people in case you haven't been keeping up -- raising the debt ceiling, which has been done over a hundred times, does not increase our debt; it does not somehow promote profligacy. All it does is it says you got to pay the bills that you've already racked up, Congress. It's a basic function of making sure that the...
  • Obama: 'Raising the Debt Ceiling...Does Not Increase Our Debt,' Though It Has 'Over 100 Times'

    09/18/2013 5:35:00 PM PDT · by True Grit · 27 replies
    CNS News ^ | September 18, 2013 | Craig Bannister
    Raising the debt ceiling doesn't increase the nation's debt, Pres. Obama declared in a speech today. In a speech at the Business Roundtable headquarters in Washington, D.C., Obama dismissed concerns about raising the debt ceiling by noting that it'd been done so many times in the past: "Now, this debt ceiling -- I just want to remind people in case you haven't been keeping up -- raising the debt ceiling, which has been done over a hundred times, does not increase our debt; it does not somehow promote profligacy. All it does is it says you got to pay the...
  • Obama: 'Raising the Debt Ceiling...Does Not Increase Our Debt,' Though It Has 'Over 100 Times'

    09/18/2013 3:30:11 PM PDT · by george76 · 49 replies
    CNS News ^ | September 18, 2013 | Craig Bannister
    Raising the debt ceiling doesn't increase the nation's debt, Pres. Obama declared in a speech today... Obama dismissed concerns about raising the debt ceiling by noting that it'd been done so many times in the past: ... Obama went on to suggest that "the average person" mistakenly thinks that raising the debt ceiling means the U.S. is racking up more debt:
  • House Republicans Punt on 1st Down – Agrees to Let Administration Borrow Until May 19th

    01/23/2013 12:36:06 PM PST · by whitedog57 · 19 replies
    Confounded Interest ^ | 01/23/2013 | Anthony B. Sanders
    House Republicans surprised Americans by punting on 1st down and agreeing to let the Administration borrow until May 19th. Jan. 23 (Bloomberg) — House Republicans’ bill to temporarily suspend limit on federal borrowing until mid-May may allow Treasury to borrow for months after that, Bloomberg BNA reports, citing analysts. • Bill’s language “would seem to allow the Treasury to replenish all the trust fund balances that have depleted so far this month, which means that all of its ‘extraordinary’ debt ceiling accounting adjustments would reset once this initial legislation was approved,” Wrightson ICAP Chief Economist Lou Crandall said in e-mail...
  • Debt Ceiling: Evidence of Absence

    01/15/2013 8:26:47 PM PST · by NaturalBornConservative
    Natural Born Conservative ^ | January 15, 2013 | Larry Walker II
    “Raising the debt ceiling does not authorize more spending. It simply allows the country to pay for spending that Congress has already committed to.” ~ POTUS :: :: By: Larry Walker II ::Wow, that was enlightening. I really had no idea. Now I get it. He must be talking about last year, when Congress voted unanimously in favor of the president’s budget, then walked it over to the Senate, which also unanimously approved. That’s when Congress committed to another trillion dollars of deficit spending, right? Too bad that never happened. In reality, the president’s budget failed to attain a...
  • Obama Once Called Raising Debt Ceiling 'a Sad State of Affairs'

    01/15/2013 8:44:56 AM PST · by Nachum · 1 replies
    Weekly Standard ^ | 1/15/13 | DANIEL HALPER
    Here's audio of then-senator Barack Obama calling a vote to raise the debt ceiling "a sad state of affairs": The one time the debt ceiling was up for a vote when Obama was in the Senate, he voted against it.
  • Obama Dodges Question About His Own Vote Against Raising The Debt Ceiling (video)

    01/14/2013 9:32:14 AM PST · by Nachum · 14 replies
    Youtube ^ | 1/14/13 | GOPICYMI
    Pres. Obama Dodges a question from Major Garrett of CBS news on his own voting against raising the debt ceiling when he was a Senator (January 14, 2013).
  • Debt Star: Federal Debt Increased By 113% Since Q2 2008, But Real GDP Increased By Only 2.6%!

    01/12/2013 11:26:29 AM PST · by whitedog57 · 5 replies
    Confounded Interest ^ | 01/12/2013 | Anthony B. Sanders
    How bad is the USA’s debt problem (as we approach the dreaded debt ceiling debate)? Federal government debt held by the public surged starting in Q2 2008. But since Q2 2008, government debt held by the public surged 113%. But real GDP growth over 4+ years was a measly 2.6%. That’s not annual real GDP growth, but real GDP growth over 4+ years! Most people don’t talk about government debt held by the public. Instead, they focus on Total Public Debt, the one that stands at $16,432,692,129,510.84 While not as dramatic as Federal debt held by the public, it is...
  • Obama to draw on public support in new round of economic battles (What is Hussein's fiscal plan?)

    01/06/2013 6:38:55 AM PST · by Libloather · 19 replies
    The Hill ^ | 1/06/13 | Niall Stanage, Amie Parnes
    President Obama intends to take a confrontational approach with Republicans in future economic battles by using the same campaign-style events the White House saw as effective in the “fiscal-cliff” fight. Many in Obama’s party believe that he got the upper hand in the recent deal to avoid the mixture of across-the-board tax hikes and spending cuts, and that the aggressive approach helped build his public case. Sources close to Obama say he can fend off Republicans for several reasons: his successful reelection; polling suggesting public support for many of his positions; and division among Republicans on Capitol Hill. Jen Psaki,...
  • Democratic Rep: Debt-ceiling blank check is like Emancipation Proclamation

    01/05/2013 5:21:10 PM PST · by TurboZamboni · 51 replies
    daily callr ^ | 1-5-13 | Nicholas Ballasy
    Democratic Illinois Rep. Danny K. Davis told The Daily Caller that President Obama should have the power to raise the nation’s debt ceiling without congressional approval, citing the example of President Abraham Lincoln issuing the Emancipation Proclamation as a good use of presidential authority. “Sometimes when we’ve gotten great answers is when presidents have had enough authority to take some actions,” Davis told TheDC on Capitol Hill Friday. “I mean, remember that we just celebrate the 150th anniversary of the Emancipation Proclamation, and if Abraham Lincoln had not had the power, authority and the will to make that decision, we...
  • Obama hails tax bill, warns GOP not to pick fight on debt ceiling

    01/02/2013 2:40:55 AM PST · by Libloather · 38 replies
    The Hill ^ | 1/02/13 | Amie Parnes
    President Obama hailed the sweeping bipartisan tax deal Tuesday night as "one step in a broader effort" to strengthen the nation's economy, saying it prevented a middle-class tax hike that could have sent the economy back into recession. The president, taking a victory lap after fulfilling a campaign promise to raise taxes on the wealthy, spoke less than an hour after the House approved the tax deal, 257-167, in a rare New Year's Day vote. “A simple premise of my campaign for president was to change the tax code that was too skewed toward the wealthy at the expense of...
  • What Obama really wants

    12/07/2012 5:36:10 AM PST · by Thad Lost · 23 replies
    Tea Party Nation. ^ | 12/7/12 | Judson Phillips
    When you go up against another group, whether in business or war, you need to know what the other group’s objectives are. What do they really want? In criminal law, this is called motive. If you understand the goal or the motive, then everything else will make sense. What is Barack Obama’s ultimate goal in the fiscal cliff crisis? Barack Obama has laid out several demands. He wants no spending cuts. He wants massive tax increases on the wealthy, which in liberal speak is anyone with a job. But there is one goal he has that trumps them all. What...
  • Obama: Give Me Debt Ceiling Power Or I’ll Veto My Own Tax Proposal

    12/06/2012 5:54:54 PM PST · by TurboZamboni · 39 replies
    freedom outpost ^ | 12-6-12 | tim brown
    In case there is still anyone out there that continues to believe that the 2008 campaign lines that Barack Obama gave about changing the way Washington works, stopping “politics as usual,” and providing more transparency in government are true, then get a load of this. On Wednesday, Obama demonstrated just how partisan and how much of a power grabber he is. He indicated that if he were not given unlimited powers to raise the debt ceiling, apart from Congressional approval, that he might just veto his own tax hike proposal should it come to his desk. As Obama addressed corporate...
  • Obama: "Raise the roof" Boehner: "Raise taxes"

    12/05/2012 6:21:30 PM PST · by ExxonPatrolUs · 5 replies
    YouTube ^ | 12-5 | AFP
    Obama: “If Congress in any way suggests that they’re going to tie negotiations to debt ceiling votes ... I will not play that game.” Boener: “Now the revenues we are putting on the table are coming from guess who? The Rich. Now there are ways to limit deductions, close loopholes and have the same people pay more of their money to the Federal Government without raising tax rates, which we believe will harm our economy” Video Link
  • U.S. to hit debt limit before election day

    02/17/2012 7:06:02 AM PST · by C19fan · 8 replies
    Washington Examiner ^ | February 17, 2012 | Conn Carroll
    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...
  • Obama delays seeking debt-ceiling increase

    12/30/2011 3:27:04 PM PST · by mdittmar · 18 replies · 1+ views
    UPI ^ | Dec. 30, 2011 | UPI
    The Obama administration delayed asking Congress to raise the U.S. debt ceiling by $1.2 trillion after congressional leaders objected to the time frame. The White House said the delay won't affect the nation's creditworthiness, The Washington Post reported.Under the request the administration originally planned to submit Friday, Congress would have had 15 days to disapprove the request or else the debt ceiling automatically would have been raised from $15.2 trillion to $16.4 trillion.Congressional leaders, however, objected to the timeline, saying it would have been difficult for lawmakers to vote on the measure. The House doesn't return until Jan. 17 and...
  • Lost Cat Found at JFK Airport 2 Months After Going Missing (Cat Fell From a Ceiling Tile in Customs)

    10/26/2011 12:59:53 PM PDT · by nickcarraway · 56 replies
    NBC11 ^ | Wednesday, Oct 26, 2011
    The cat fell from a ceiling tile in the customs room.A Bay Area cat lost for two months since it went missing from a baggage center at John F. Kennedy Airport has been found safe. American Airlines reports that the feline, known as Jack the Cat, was found in a customs room and was taken to a veterinarian. A family friend of the owner told NBC that the cat was discovered after it fell from a ceiling tile. Karen Pascoe was flying with Jack and her other cat, Barry, to San Francisco that week to start a new job in...
  • The debt deal and Obama's 2012 problem (George Will Grand Slam!)

    08/17/2011 8:03:50 AM PDT · by Recovering_Democrat · 18 replies
    Jewish World Review ^ | 8/3/11 | G Will
    The story is that as Mark Twain and novelist William Dean Howells stepped outside one morning, a downpour began and Howells asked Twain, “Do you think it will stop?” Twain answered, “It always has.” The debt-ceiling impasse has, as things generally do, ended, and a post-mortem validates conservatives’ portrayal of Barack Obama and their dismay about the dangers and incompetence of liberalism’s legacy, the regulatory state.
  • Only National Collapse Will End America’s Spending Problem

    08/16/2011 6:39:17 AM PDT · by Paladins Prayer · 40 replies
    The New American ^ | 15 August 2011 | Selwyn Duke
    While many are complaining about the recent debt-ceiling deal, is it really the issue? Sure, statists say that the Republicans steered us toward crisis with their initial unwillingness to compromise, while traditionalists complain that the GOP folded and “let us down again.” Our problems, however, lie not in our politicians but in ourselves. Just so you know, my solution to our spending woes would be to once again limit the central government to only that which our Constitution dictates it may do, which would cause its budget to immediately shrink by at least two-thirds — and probably far more. Of...
  • United States loses AAA credit rating from S&P

    08/05/2011 6:16:35 PM PDT · by Iam1ru1-2 · 29 replies · 1+ views
    BuenosAiresHerald.com ^ | August 5, 2011 | BuenosAiresHerald.com
    The United States lost its top-notch AAA credit rating from Standard & Poor's on Friday in an unprecedented reversal of fortune for the world's largest economy. S&P cut the long-term US credit rating by one notch to AA-plus on concerns about the government's budget deficits and rising debt burden. The move is likely to raise borrowing costs eventually for the US government, companies and consumers. "The downgrade reflects our opinion that the fiscal consolidation plan that Congress and the Administration recently agreed to falls short of what, in our view, would be necessary to stabilize the government's medium-term debt dynamics,"...
  • S&P to the US: Your credit is no good [White House was prepared for, and expecting, a downgrade] [

    08/05/2011 7:38:21 PM PDT · by fight_truth_decay · 75 replies
    Salon ^ | Friday, Aug 5, 2011 21:45 ET | By Andrew Leonard
    Why the Tea Party-friendly Republicans of the U.S. House own this epic humiliation On Friday night, after a swirl of rumors and conflicting news reports that will be grist for the Washington pundit mill for years to come, Standards & Poor downgraded the credit rating of the United States.
  • Giffords, the debt ceiling, and left-wing hypocrisy

    08/04/2011 2:36:53 PM PDT · by tysonbam · 16 replies
    The Battalion ^ | 08.04.2011 | Taylor Wolken
    Congresswoman Gabrielle Giffords returned to Washington, D.C. Monday, seven months after her tragic attack to cast her vote in favor of raising the debt ceiling. Her timing couldn't be better to unveil the absolutely relentless hypocrisy of left-wing media and politics. The vicious attack on Giffords sparked a whirlwind of criticism over the violent rhetoric of the right in which the media castigated the tea party for its tone. Sarah Palin was criticized relentlessly over a map depicting crosshairs over vulnerable democrats, similar to the DNC's use of targets on Republicans. Most heinously, Giffords' attacker, Jared Loughner, was assumed by...
  • Obamas Bad Bargain (the left is becoming unhinged)

    08/03/2011 9:54:12 AM PDT · by Huskrrrr · 50 replies
    The Nation ^ | July 27, 2011 | William Greider
    The most distressing outcome of the deficit hysteria gripping Washington may be what Barack Obama has revealed about himself. It was disconcerting to watch the president slip-slide so easily into voicing the fallacious economic arguments of the right. It was shocking when he betrayed core principles of the Democratic Party, portraying himself as high-minded and brave because he defied his loyal constituents. Supporters may hope this rightward shift was only a matter of political tactics, but I think Obama has at last revealed his sincere convictions. If he wins a second term, he will be free to strike a truly...
  • FINAL VOTE RESULTS FOR ROLL CALL 690

    08/03/2011 11:53:02 AM PDT · by Texas Fossil · 28 replies · 1+ views
    U.S. House of Representatives Website ^ | 1 Aug 2011 | House Clerk
    Final House Roll Call Vote on the Debt Ceiling Extension (S.510 placed in the body of an existing House bill)FINAL VOTE RESULTS FOR ROLL CALL 690(Republicans in roman; Democrats in italic; Independents underlined)       S 365      RECORDED VOTE      1-Aug-2011      7:09 PM      QUESTION:  On Passage      BILL TITLE: To make a technical amendment to the Education Sciences Reform Act of 2002 Ayes Noes PRES NV Republican 174 66     Democratic 95 95   3 Independent         TOTALS 269 161   3 ---- AYES    269 --- AdamsAderholtAlexanderAltmireAndrewsAustriaBachusBarlettaBarrowBartlettBarton (TX)Bass (CA)Bass (NH)BenishekBergBerkleyBermanBiggertBilbrayBilirakisBishop (GA)Bishop (NY)BlackBlackburnBoehnerBonnerBono MackBorenBoustanyBrady (PA)Brady (TX)BuchananBucshonBurgessCalvertCampCampbellCansecoCantorCapitoCappsCarnahanCarneyCarterCassidyCastor (FL)ChabotChandlerCicillineClayClyburnCobleCoffman (CO)ColeConawayConnolly (VA)CooperCostaCostelloCourtneyCrawfordCrenshawCritzCuellarCulbersonDavis (CA)Davis (IL)DenhamDentDeutchDiaz-BalartDicksDingellDoggettDoldDonnelly (IN)DreierDuffyDuncan (TN)EllmersEmersonEshooFarentholdFattahFincherFitzpatrickFloresFortenberryFoxxFrelinghuysen GalleglyGaramendiGardnerGerlachGibbsGibsonGiffordsGoodlatteGosarGrangerGraves (MO)Green, GeneGriffin (AR)GrimmGuintaGuthrieGutierrezHanabusaHannaHarperHastings (WA)HayworthHeckHeinrichHensarlingHergerHerrera BeutlerHigginsHimesHinojosaHironoHochulHoldenHoyerHuizenga...
  • Apocalyptic Thinking Leads to the Apocalypse

    08/03/2011 8:19:17 AM PDT · by Kaslin · 6 replies
    Townhall.com ^ | August 3, 2011 | Ben Shapiro
    We were told over and over again that if America didn't raise her debt-ceiling, the financial roof would come tumbling down about our ears. We were told that the consequences for our credit rating would be disastrous. We were told that the stock market would crash. So, our elected representatives passed a debt-ceiling increase. Democrats complained that the increase didn't raise taxes; Republicans complained that the increase kicked the proverbial can down the road on spending. Democrats claimed victory for having forced Republicans to raise the ceiling at all; Republicans claimed victory for having forced Democrats to offset increased spending...