Keyword: debtlimit

Brevity: Headers | « Text »
  • Mnuchin calls on Congress to raise debt limit as deadline approaches

    03/09/2017 8:08:40 PM PST · by Angels27 · 32 replies
    CNBC ^ | 3-9-17 | Jacob Pramuk and John W. Schoen
    Treasury Secretary Steven Mnuchin has called on Congress to raise the United States debt limit "at the first opportunity." In a letter to congressional leaders dated Wednesday, Mnuchin said the Treasury will stop issuing certain state and local securities on March 15, when the most recent suspension of the debt limit expires. Mnuchin said the Treasury will likely start taking "extraordinary measures" the next day, when the U.S. will be at its statutory limit, to prevent default. "As I said in my confirmation hearing, honoring the full faith and credit of our outstanding debt is a critical commitment. I encourage...
  • Mnuchin calls on Congress to raise debt limit as deadline approaches

    03/09/2017 1:45:22 PM PST · by Pinkbell · 19 replies
    CNBC ^ | March 9, 2016 | Jacob Pramuk | John W. Schoen
    Treasury Secretary Steven Mnuchin has called on Congress to raise the United States debt limit "at the first opportunity." In a letter to congressional leaders dated Wednesday, Mnuchin said the Treasury will stop issuing certain state and local securities on March 15, when the most recent suspension of the debt limit expires. Mnuchin said the Treasury will likely start aking "extraordinary measures" the next day, when the U.S. will be at its statutory limit, to prevent default. "As I said in my confirmation hearing, honoring the full faith and credit of our outstanding debt is a critical commitment. I encourage...
  • Rand Paul begins filibuster of debt ceiling increase bill; will last until 1am Friday morning

    10/29/2015 12:18:29 PM PDT · by WayneDupreeShow · 18 replies
    Youtube ^ | 10/29/2015 | Wayne Dupree
    I know Presidential candidate Rand Paul's campaign is failing but one thing he is good at and that is going after the left and right when it comes to fraud, waste and abuse by our government leaders. He's started a filibuster against the debt ceiling increase that will last until 1am ET Friday morning. He says, "then we will find out who the real conservatives are" I will be uploading clips throughout the day.
  • Boehner Agrees to Suspend Debt Limit for Rest of Obama’s Term

    10/27/2015 6:25:03 PM PDT · by xzins · 51 replies
    CNS ^ | October 27, 2015 | Terence P. Jeffrey
    ( - The new spending deal that resigning House Speaker John Boehner has made with the Democratic congressional leadership and President Barack Obama will suspend the legal limit on the federal government’s debt until after Obama leaves office. “Subsection 901(a) provides for the temporary suspension of the limit on public debt through March 15, 2017,” says the official summary of the bill. Obama will leave office on Jan. 20, 2017, when the next president is inaugurated. Since Obama took office, the total debt of the federal government has already increased by $7,525,761,885,381.30—rising from $10,626,877,048,913.08 on Jan. 20, 2009 to $18,152,638,934,294.38...
  • Rand Paul will filibuster debt ceiling bill

    10/27/2015 9:38:33 PM PDT · by UncleRicosFootball · 22 replies
    Washington Post ^ | 10/27/15 | David Weigel
    DENVER -- in the face to conservatives." Likely speaker of the House Paul Ryan has said the process that created it "stinks." But Sen. Rand Paul (R-Ky.) is the first Republican to pledge outright that he'll try to scutter the compromise debt limit bill designed to kick any tough new vote into 2017. "I will filibuster the new debt ceiling bill," Paul said at an event on the University of Colorado's Denver campus. "It is horrible, it's hard for me not to use profanity describing it." Paul also called the bill a "steaming pile of legislation," and urged fellow Republicans...
  • U.S. debt limit increase would extend until March 2017

    10/26/2015 3:56:11 PM PDT · by NormsRevenge · 12 replies
    Reuters on Yahoo News ^ | 10/26/15 | Richard Cowan
    WASHINGTON (Reuters) - U.S. borrowing authority would be extended until March 2017, beyond the Obama administration, under a deal being negotiated by congressional leaders and the White House, according to a U.S. House of Representatives source. As part of a parallel measure to fund government programs through Sept. 30, 2017, negotiators also aim to stop an increase in Medicare Part B premiums that is otherwise due to start soon.
  • [SecTreas] Lew informs Congress he extending debt-limit measures

    07/29/2015 2:40:13 PM PDT · by Olog-hai · 24 replies
    Associated Press ^ | Jul 29, 2015 5:29 PM EDT | Martin Crutsinger
    Treasury Secretary Jacob Lew told Congress on Wednesday that he will extend for another three months the authority he is using to take emergency measures to keep from breaching the nation’s borrowing limit. In a letter to congressional leaders, Lew said he will extend the current debt-suspension period, which was set to expire Friday, through Oct. 30. He said he believes the emergency measures he is using may be sufficient to keep the government operating for a brief period after Oct. 30. Since March 16, Lew has been employing a variety of bookkeeping maneuvers such as removing investments from government...
  • Treasury Secretary Lew: Raise the Debt Limit Now (by Mitch, Boehner and the Surrender Monkeys)

    03/08/2015 11:55:27 AM PDT · by broken_arrow1 · 20 replies
    Newsmax ^ | March 6, 2015 | Newsmax Wires
    The U.S. will hit its debt limit on March 16 but with some "extraordinary measures" it will be able to fund the government on a temporary basis, according to U.S. Treasury Secretary Jack Lew, who urged Congress in a letter to raise the debt limit immediately. In the letter to House Speaker John Boehner and other House and Senate leaders, Lew said on March 13 his office would have to suspend the issuance of some local and and state securities, reports CNBC. "Accordingly, I respectfully ask Congress to raise the debt limit as soon as possible," Lew wrote in his...
  • Lew to Congress: US hits debt limit on March 16, must be raised ASAP

    03/06/2015 10:13:30 AM PST · by Theoria · 43 replies
    CNBC ^ | 06 Mar 2015 | Everett Rosenfeld
    Unless Congress takes action, the U.S. will hit its debt limit on Mar. 16, but would begin taking "extraordinary measures" to finance the government on a temporary basis, according to the U.S. Treasury. In a Friday morning letter to House Speaker John Boehner and other House and Senate leaders, Treasury Secretary Jack Lew said that his office will be forced to suspend the issuance of State and Local Government Series securities on Mar. 13 unless the debt limit is decreased. "Accordingly, I respectfully ask Congress to raise the debt limit as soon as possible," Lew wrote in his letter. The...
  • Response to Senator Cruz on the debt limit

    02/16/2014 8:05:41 PM PST · by SeekAndFind · 14 replies
    On the Mark Levin show Thursday Senator Ted Cruz said: The single thing that Republican politicians hate and fear the most, and that is when they’re forced to tell the truth. It makes their heads explode. And actually look, this debt ceiling example is a perfect example. The Republican members of the Senate, they all wanted the perfect show vote. So the whole fight was, was every Senator in the Senate going to consent to allow a clean debt ceiling, to allow Barack Obama to get a blank check to raise our debt, while doing nothing about spending, with just...
  • Here's a nice little photo-op with John Boehner after the "clean" vote to raise the debt limit

    02/13/2014 3:27:38 PM PST · by The Looking Spoon · 9 replies
    The Looking Spoon ^ | 2-13-14 | The Looking Spoon
  • Senate passes debt-ceiling plan in blow to tea party (Ted Cruz's attempted filibuster denied)

    02/12/2014 2:29:22 PM PST · by SeekAndFind · 63 replies
    CNN ^ | 02/12/2014 | Tom Cohen
    Washington (CNN) -- The Senate voted Wednesday to avert at least one chronic Washington political crisis for more than a year. With a snowstorm bearing down on the capital, it approved a House-passed measure that allows the government to borrow more money to pay its bills through March 2015. The White House signaled that President Barack Obama would sign the legislation, so the Senate vote was the last hurdle to resolving the debt ceiling issue until after the November congressional elections. Wednesday's result was a blow to tea party conservatives who oppose any kind of increase in federal borrowing. Filibuster...
  • Senate to vote Wednesday afternoon on debt limit

    02/12/2014 9:01:02 AM PST · by illiac · 11 replies
    Marketwatch ^ | 2/12/14 | Robert Schroeder
    WASHINGTON (MarketWatch) -- The Senate will begin voting on a House-passed bill to extend the U.S. debt limit at 1:45 p.m. Eastern. Very short article....
  • 28 out of 232 House Republicans vote for clean debt limit bill

    02/12/2014 8:40:31 AM PST · by SeekAndFind · 17 replies
    American Thinker ^ | 02/12/2014 | Rick Moran
    Current Speaker of the House John Boehner pushed through a clean debt limit bill on Tuesday that gives the White House unlimited borrowing power for the next year. Only 28 Republicans - mostly allies of Boehner - voted for the bill while 199 Republicans opposed it. I say current speaker because a revolt by GOP back benchers is a real possibility. Several prominent conservatives like Mark Levin and Sean Hannity have already called for the speaker's head while the Senate Conservative Fund has also urged Boehner's removal. The thinking of the GOP leadership is that fiscal fights have become a...
  • How John Boehner Decided To Give Up On the Debt Limit Fight

    02/12/2014 5:41:17 AM PST · by lbryce · 26 replies
    Washington Post ^ | February 11, 2014 | Robert Costa
    The scene happened Tuesday morning at the Capitol Hill Club, where House Republicans had gathered for a private breakfast. After listening to a handful of colleagues flatly discuss fundraising strategy for 30 minutes, Boehner stood up, walked past dozens of sleepy, coffee-sipping Republicans and tersely woke up the room with an update. “Listen – we’re going to move forward,” Boehner said. Instead of bringing up the leadership’s plan, which would link a restoration of recently cut military benefits to a debt-ceiling extension, he would push a “clean” bill, averting default more than two weeks before the Treasury Department’s debt-limit deadline.
  • House Republicans to advance 'clean' debt limit: Boehner

    02/11/2014 8:19:55 AM PST · by NormsRevenge · 20 replies
    Yahoo! News ^ | 2/11/14 | Reuters
    WASHINGTON (Reuters) - Republican leaders in the House of Representatives on Tuesday caved in to demands by President Barack Obama and agreed to advance legislation raising Washington's borrowing authority without conditions.
  • House GOP to Ditch Debt Limit Plan

    02/11/2014 7:06:00 AM PST · by kristinn · 12 replies
    Politico ^ | Tuesday, February 11, 2014 | Jake Sherman and John Bresnahan
    House Republicans are abandoning their plan to lift the debt limit and restore military pension cuts due to flagging support from the rank and file. The announcement was made Tuesday morning in a private GOP meeting.
  • Lew: U.S. likely able to pay bills through Feb.27

    02/08/2014 9:40:46 AM PST · by mdittmar · 13 replies
    UPI ^ | Feb. 7, 2014 | UPI
    (UPI) -- U.S. Treasury Secretary Jack Lew Friday urged Congress to raise the federal borrowing limit to "provide certainty to the economy and to the financial markets."In a letter to House Speaker John Boehner, R-Ohio, Lew said the Treasury was implementing extraordinary measures to pay the government's bills as of Friday, with the expiration of a temporary suspension of the statutory debt limit that was part of the Continuing Appropriations Act of 2014 -- a compromise spending bill that led to the end to a government shutdown."Because Congress has not acted to approve normal borrowing authority, Treasury must begin implementing...
  • House Republicans eye possible debt limit vote next week

    02/07/2014 1:32:36 PM PST · by mdittmar · 16 replies
    Reuters ^ | Feb 7, 2014 | David Lawder
    (Reuters) - Republicans who control the U.S. House of Representatives have penciled in a possible vote next week on legislation to raise the debt limit, a sign that they are moving closer to deciding whether to try to attach conditions to any increase. House Majority Leader Eric Cantor on Friday left a spot open in his weekly House floor schedule for "possible consideration of the legislation related to the debt limit" on Wednesday.A temporary extension of the $17 trillion U.S. debt ceiling expires at midnight on Friday, forcing the U.S. Treasury Department to resort to extraordinary cash management measures to...
  • Boehner proposes linking debt-limit hike to a restoration of recent cuts to military benefits

    02/06/2014 10:24:39 AM PST · by C19fan · 10 replies
    Washington Post ^ | February 5, 2014 | Robert Costa
    House Speaker John A. Boehner scrambled to sell a new debt-ceiling solution to his Republican colleagues on Wednesday, encouraging them to demand a restoration of recently cut military benefits in exchange for a one-year extension of the federal government’s borrowing authority. Though Boehner (R-Ohio) did not formally endorse the idea as his own, he did ask his lieutenants to test it among rank-and-file ­Republicans.
  • Cruz to conservatives: Keep fighting for cuts in debt limit talks

    02/06/2014 10:06:48 AM PST · by SoConPubbie · 2 replies
    Washington Post ^ | February 4 at 5:36 pm | Ed O'Keefe and Robert Costa
    Sen. Ted Cruz (R-Tex.) urged conservative House Republicans on Tuesday to continue pushing GOP leaders to insist on spending reductions as any new agreement to raise the federal borrowing limit, putting him at odds with some conservatives who said earlier that doing so would just amount to “political theater.”“Of course the debt ceiling should be used to enact structural spending reforms to fix the problem, to fix the out of control spending and debt. That’s what all of our constituents expect and it’s what every member of this body tells our constituents we will do. I guarantee you,” Cruz said.The...
  • Did the deal allow the President to set the debt limit from now on?

    10/17/2013 9:32:42 AM PDT · by Ernest_at_the_Beach · 12 replies
    Hot Air ^ | 8:16 am on October 17, 2013 | by Ed Morrissey
    That rumor has been flying around, in part due to the natural opacity of last-minute deals struck at the eleventh hour of a “crisis.”  The legislative branch controls the debt ceiling, but Democrats have occasionally proposed to either eliminate it altogether or allow the executive to set it — at least when a Democrat is President.  So what exactly did the Reid-McConnell bill do to the debt ceiling?  Politico has the source of some confusion on this at the bottom of their story: The legislation also includes a McConnell-written proposal that would allow Congress to disapprove of the debt-ceiling increase....
  • Senators Restart Talks as Default Looms

    10/16/2013 6:59:25 AM PDT · by libstripper · 9 replies
    New York Times ^ | Oct. 15, 2013 | Jonathan Weisman
    With the federal government on the brink of a default, a House Republican effort to end the shutdown and extend the Treasury’s borrowing authority collapsed Tuesday night as a major credit agency warned that the United States was on the verge of a costly ratings downgrade.
  • Sarah Palin: Obama’s Debt Default is on His Shoulders While We Shoulder His Impeachable Offenses

    10/14/2013 1:36:45 PM PDT · by Bigtigermike · 58 replies
    Sarah Palin Facebook ^ | Monday Oct 14, 2013 | Sarah Palin
    Sarah Palin Obama’s Debt Default is on His Shoulders While We Shoulder His Impeachable Offenses Apparently the president thinks he can furlough reality when talking about the debt limit. To suggest that raising the debt limit doesn’t incur more debt is laughably absurd. The very reason why you raise the debt limit is so that you can incur more debt. Otherwise what’s the point? It’s also shameful to see him scaremongering the markets with his talk of default. There is no way we can default if we follow the Constitution. The Fourteenth Amendment, Section 4, requires that we service our...
  • FLASHBACK: Full Text of Obama’s Speech Against Raising the Debt Ceiling in 2006

    10/13/2013 9:02:16 AM PDT · by Innovative · 13 replies ^ | March 16, 2006 | Barack H. Obama
    March 16, 2006 CONGRESSIONAL RECORD—SENATE S2237-2238: “Mr. OBAMA. Mr. President, I rise today to talk about America’s debt problem. The fact that we are here today to debate raising America’s debt limit is a sign of leadership failure. It is a sign that the U.S. Government can’t pay its own bills. It is a sign that we now depend on ongoing financial assistance from foreign countries to finance our Government’s reckless fiscal policies. Over the past 5 years, our federal debt has increased by $3.5 trillion to $8.6 trillion. That is ‘‘trillion’’ with a ‘‘T.’’ That is money that we...
  • NO debt-limit increase. Default (if it comes to that) would be a GOOD thing.

    10/12/2013 6:39:14 PM PDT · by GodAndCountryFirst · 37 replies
    First of all, nobody believes the government does not have enough money to pay down its debt. We would just have to stop doing things like feeding lazy losers. But what if we DID default? What if there was a cash-flow problem that caused FedZilla to miss a bond payment or two? Well, that would be a GOOD thing for us small-government conservatives. FedZilla loses its credit rating and cannot BORROW anymore. What could be better? We should all be WISHING for that!
  • Pass a Debt Limit Increase From the House

    10/12/2013 5:39:59 PM PDT · by SharpRightTurn · 17 replies
    RedState ^ | October 12th, 2013 at 07:31 PM | Erick Erickson
    Paul Ryan, Mitch McConnell, and Susan Collins are doing their best to complicate everything and shill for K Street. I am actually surprised Paul Ryan could be diverted from amnesty long enough to ensure Obamacare is fully funded. But he has. The House should act very simply — pass a debt limit increase. Pass it so it goes through Christmas. There is no point trying to do negotiations over the holidays. Then let Harry Reid reject it. Harry Reid is banking on the media being in his pocket the whole time. And they are and will be right up until...
  • Senate GOP blocks Dems from advancing $1.1T debt hike

    10/12/2013 11:05:07 AM PDT · by Cincinatus' Wife · 15 replies
    The Hill ^ | October 12, 2013 | Alexander Bolton
    Senate Republicans on Saturday blocked a bid by Senate Majority Leader Harry Reid (D-Nev.) to extend the nation’s debt limit until after the 2014 midterm elections. In an 53-45 vote, the Senate failed to win the 60 votes necessary to advance the debt-limit measure to a floor debate. The bill would increase the federal debt by an estimated $1.1 trillion. Every Democrat supported the measure, though Reid switched his vote at the end to preserve the right to bring the motion up for another vote later. Republicans criticized the legislation as politically transparent. Sen. Susan Collins (Maine) and two other...
  • Roll Call Vote on cloture on MTP to S.1569, debt limit (Dec. 31, 2014)

    10/12/2013 9:51:03 AM PDT · by mdittmar · 8 replies
    United States Senate Democrats ^ | 10/12/2013 | Senate Majority Leader Harry Reid
    12:00 noon The Senate began a 15 minute roll call vote on the motion to invoke cloture on the motion to proceed to S.1569, a bill to ensure the complete and timely payment of the obligations of the United States Government until December 31, 2014; Not Invoked: 53-45Senator Reid changed his vote to no and entered a motion to reconsider the failed cloture vote at a later time.
  • Debt ceiling vote will test Dems' unity

    10/12/2013 5:44:07 AM PDT · by Cincinatus' Wife · 19 replies
    The Hill ^ | October 11, 2013 | Alex Bolton
    Senate Democratic unity will face a test Saturday when Senate Majority Leader Harry Reid (D-Nev.) moves forward with a plan to pass a 14-month debt-ceiling extension. The unity of the 54-member caucus has been Reid’s biggest asset in his showdown with House Republicans. Senate Democrats have voted together to reject various House proposals to link legislation unraveling ObamaCare to a government funding stopgap. If Reid keeps his rank-and-file members together, it would strengthen Democrats’ leverage in negotiations to avoid a federal default later this month. But the vote presents a political risk to red state Democrats who are undecided over...
  • GOP powwows as debt limit looms

    10/12/2013 3:52:08 AM PDT · by Cincinatus' Wife · 9 replies
    The Hill ^ | October 12, 2013 | Russell Berman
    Speaker John Boehner (R-Ohio) on Saturday morning is set to brief House Republicans on the status of negotiations with the White House to end the government shutdown and lift the debt ceiling. Congressional leaders left the Capitol on Friday evening with no agreement to resolve the standoff, just six days before the Treasury Department says the debt ceiling will be reached and warns of an unprecedented U.S. default..... At the White House, press secretary Jay Carney said Obama had "some concerns" about the GOP's latest proposal, and he signaled Obama would not support a plan that tied only a short-term...
  • Boehner Will Lift Debt Limit Now--If Obama Will Talk Later

    10/10/2013 2:59:31 PM PDT · by SatinDoll · 30 replies
    CNSNews. com ^ | October 10, 2013 | Susan Jones
    House Republicans say they'll go for a temporary extension of the debt ceiling in exchange for a "real commitment" from President Obama and Democrats to talk about the nation's pressing problems. At a news conference Thursday morning, House Speaker John Boehner said Republicans are ready to "move half way -- half way to what (Obama's) demanded." [snip] - See more at:
  • Senate GOP rallies around rival plan on debt ceiling, shutdown

    10/10/2013 12:34:47 PM PDT · by Cincinatus' Wife · 32 replies
    The Hill ^ | October 10, 2013 | Alexander Bolton
    Senate Republicans are unhappy with a House GOP plan to raise the debt ceiling for six weeks without funding the federal government — and are coalescing around their own proposal to pair a short-term debt-ceiling increase with a year-long stopgap spending bill. Under their plan, government would be funded for a year at the $967 billion level set by the 2011 Budget Control Act. The package would also include a repeal of ObamaCare's medical-device tax and language to require income verification of people who apply for healthcare subsidies under the Affordable Care Act, say GOP sources familiar with the talks....
  • White House: Obama would 'likely' sign six week debt ceiling hike

    10/10/2013 10:54:26 AM PDT · by Cincinatus' Wife · 28 replies
    The Hill ^ | October 10, 2013 | Justin Sink
    But the White House spokesman reiterated the president will not offer concessions "in return for Congress doing its job." President Obama "would likely sign" a clean bill that raised the debt ceiling for six weeks, White House press secretary Jay Carney said. But the White House reiterated that the president was not going to offer concessions "in return for Congress doing its job," further indication that Obama would not negotiate on the budget until the government was reopened. Carney said it would be "unsustainably bad" policy to allow allow Republicans to use the shutdown as "leverage" to extract concessions, chiding...
  • Senate Dems: Don’t assume clean debt-limit bill can pass if shutdown continues

    10/10/2013 8:55:53 AM PDT · by Cincinatus' Wife · 21 replies
    The Hill ^ | October 10, 2013 | Alexander Bolton
    Senate Democrats say any short-term debt-limit increase should also reopen the government and may reject a House GOP proposal to extend the nation’s debt ceiling by a few weeks. [snip] Reid said he would proceed with his plan to push the expiration of the debt limit until Dec. 31, 2014. Reid has scheduled a Saturday vote on a motion to proceed to the 14-month debt-limit extension. It would, in effect, allow the administration to increase its borrowing authority by an estimated $1.1 trillion. Senate Republican Leader Mitch McConnell (Ky.) panned the proposal. “The majority leader introduced legislation this week to...
  • Republicans shift focus away from Obamacare toward fiscal issues

    10/10/2013 6:05:12 AM PDT · by JSDude1 · 8 replies
    Reuters/Townhall ^ | 10/10/13 | By David Lawder and Caren Bohan
    WASHINGTON (Reuters) - In a shift some Republicans hope will strengthen their hand in the fight over the U.S. debt limit, some of the party's leaders in the House of Representatives are playing down demands to weaken "Obamacare" and focusing instead on calls to rein in deficits. The emphasis on tackling long-term debt and deficits was evident in opinion pieces published on Wednesday by two of the most prominent House Republicans, Majority Leader Eric Cantor and Paul Ryan, the chairman of the House Budget Committee and a former vice presidential candidate. Ryan's piece in the Wall Street Journal failed to...
  • Harry Reid: Concern About Runaway Spending Is 'Anarchy'??!!!

    10/10/2013 4:23:02 AM PDT · by Kaslin · 22 replies ^ | October 10, 2013 | Larry Elder
    A national network reporter, during an interview about about the government shutdown, actually told me: "Democrats believe government should do some things. Republicans don't believe government should be doing anything." Where had we heard that characterization of the GOP? "'Anarchist'? Why in the world wouldn't I use the term anarchy?" said Senate Majority Leader Harry Reid, D-Nev., in a CNN interview. "That's what they are. They're anarchists. They don't believe in government -- at any level. ... They're anarchists, just like they were at the beginning of the 20th century. ... They're not blowing up buildings and they're not killing...
  • Senate GOP to reject Reid plan to push debt limit until next year

    10/09/2013 5:37:38 PM PDT · by mdittmar · 17 replies
    The Hill ^ | 10/09/13 | Alexander Bolton
    Senate Republicans plan to block Senate Majority Leader Harry Reid’s (D-Nev.) bid to push the debt limit until Dec. 31, 2014, increasing the nation’s borrowing authority by an estimated $1.1 trillion.Sen. Lisa Murkowski (Alaska), a pivotal centrist Republican, on Wednesday called Reid’s legislation “politically transparent.” “We just do a clean increase for the next year to get us beyond the election? I’m sorry. We’re asking for transparency around here, but that’s about as politically transparent as anything I can think of,” she said. The Senate Republican caucus now seems near unanimous that Reid is playing political games. And that likely...
  • US Debt Already Exceeds Debt Limit by $48 Billion Minimum; Gold vs. Debt Ceiling

    10/09/2013 10:12:17 AM PDT · by Rusty0604 · 4 replies
    Mish's Global Economic Trend Analysis ^ | 10/08/2013 | Mish Shedlock
    Please note that the current debt limit is $16.699 trillion. Debt to the Penny Interestingly, the US Treasury website Debt to the Penny and Who Hold It shows the current public debt as 16,747,429,285,635.12 (the same as Nick shows in the above chart). Treasury Stops Updating National Debt You do not have to be a math genius to figure out that "debt to the penny" already exceeds the debt limit. I asked Nick about that and he replied ... Since mid-May, "debt to the penny" hasn't been rising. When they postponed raising the debt limit they stopped showing any increase...
  • President, Dems split on strategy

    10/09/2013 3:52:22 AM PDT · by Cincinatus' Wife · 27 replies
    The Hill ^ | October 9, 2013 | Alexander Bolton
    ............Congressional Democrats are generally pleased that Reid has been calling the shots. They claim that Obama did not cut a good deal during the last debt-limit debate in 2011.Now,Obama is front and center again. His press conference with reporters,which lasted more than an hour, was his first since the government shuttered last week.Senate Democratic Whip Dick Durbin(Ill.)has criticized a short-term debt-limit increase as merely lurching to the next crisis.“We’re not going to be in the situation where you’re lurching from crisis to crisis and putting the full faith and credit[of the government]at the hands of a Republican caucus that can’t...
  • Inside the Mind of the Tea-Party. Sen. Ron Johnson talks to Salon

    10/08/2013 7:52:37 PM PDT · by cornelis · 15 replies
    Salon ^ | Oct 8, 2013 | Josh Eidelson
    Would you vote for cloture on a clean debt ceiling increase? What I’ve consistently said is that if they bring a continuing resolution at the levels, the spending levels that President Obama signed — and Harry Reid, and I think it was 45 Democrat senators voted for — the only other thing I would at this point require is you have to attach to that an amendment that would make sure that Congress and their staff does not get unequal treatment under the law. Under Obamacare. In other words, a rejection of that Office of Personnel Management ruling that grants...
  • Boehner: Obama gambling with economy by refusing to talk

    10/07/2013 11:35:54 AM PDT · by Cincinatus' Wife · 24 replies
    The Hill ^ | October 7, 2013 | Pete Kasperowicz
    Speaker John Boehner (R-Ohio) said Monday that President Obama is putting the economy at risk by refusing to negotiate with Republicans over spending and the debt ceiling. "The president's refusal to negotiate is hurting our economy and putting our country at risk," Boehner said on the House floor. Boehner expressed disbelief at reports that Obama would rather see a debt default than talk to Republicans. "This morning, a senior White House official this morning said that the president would rather default than to sit down and negotiate," he said. "Really?" "The American people expect when their leaders have differences, and...
  • Obamacare or the Debt Ceiling

    10/07/2013 10:08:30 AM PDT · by JSDude1 · 5 replies
    Redstate ^ | 10/7/13 | Erick Erickson
    Republicans are winning the shutdown fight, and Democrats know it. People turning on the news this week came away with the knowledge that it was about Obamacare and kept hearing that Democrats wouldn’t negotiate. They also learned that for some reason the President didn’t want Word War II veterans to tour their own memorial, and Harry Reid won’t turn the funding on for cancer clinical trials at the NIH. Oh, and the rollout for Obamacare is one big glitch. Late yesterday came word that the Amber Alert system has been shut down, but Barack Obama’s federally funded golf course remains...
  • Lew Op-Ed: U.S. Failure to Pay Bills Hurts Everyone

    10/04/2013 7:52:00 AM PDT · by b4its2late · 20 replies
    US Treasury ^ | 10/3/2013 Page Content ​ | US Treasury
    Lew Op-Ed: U.S. Failure to Pay Bills Hurts Everyone 10/3/2013 WASHINGTON – In an op-ed to be published in the October 4, 2013 edition of USA TODAY, Treasury Secretary Jacob J. Lew discusses the importance of Congress raising the debt limit immediately to avoid self-inflicted wounds that could impede economic growth and create uncertainty for families and businesses. The text of the piece follows: U.S. failure to pay bills hurts everyone If Congress does not raise the debt limit soon, seniors, veterans, kids, among others, are at risk. By Jack Lew It might be hard to believe, but there is...
  • Mark Levin: Obama plans to bypass Congress

    10/04/2013 12:21:48 AM PDT · by servo1969 · 67 replies
    Mark Levin Show 10/3/2013 ^ | 10-4-2013 | vanity
    Listened to the podcast of Mark Levin's show tonight(10/3/2013). All of the following is Levin's take on the government shutdown. There's no transcript so I'm going to do the best I can. What is Obama's endgame? The clue is in Obama's repeated use of the word 'default' in his recent interviews. The Dems and Obama keep repeating the story that the Repubs are crazy. That they have a 'gun to the head' of the country. That they are 'holding America hostage.' Obama is setting up the idea that "I have no choice but to take matters into my own hands...
  • 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...
  • The Self-Righteous Statists of the Healthcare Debate

    09/27/2013 9:26:59 AM PDT · by jfd1776 · 2 replies
    Illinois Review ^ | September 27, 2013 A.D. | John F. Di Leo
    In the great Rob Reiner costumer, “The Princess Bride,” the hired criminal Vizzini disdainfully objects to the hero Wesley’s efforts to free Princess Buttercup, charging “You're trying to kidnap what I've rightfully stolen!” Back home in Chicago, we have a related saying about ethics in politics: “An honest politician is one who stays bought.” In either case, the perpetrator of the first crime is offended by the very notion that anyone might dare try to reverse that crime. The first crime is fine; having once turned the tables on the laws of God and man, none may challenge the new...
  • House to tie debt ceiling hike to one-year ObamaCare delay, Keystone approval

    09/25/2013 9:44:49 AM PDT · by Cincinatus' Wife · 36 replies
    The Hill ^ | September 25, 2013 | Peter Schroeder and Erik Wasson
    House Republicans plan to tie an increase in the $16.7 trillion debt ceiling to a a broad GOP wish list that includes delaying ObamaCare for a full year. The House Republican wish list circulating on K Street also indicates the GOP also hopes to kickstart tax reform, permit the Keystone XL pipeline and trim a slew of federal regulations in exchange for a borrowing boost. The move to the debt ceiling comes as Congress moves toward a possible government shutdown on Oct. 1. Moving to the debt ceiling fight, which Republican leaders have long seen as stronger ground, could be...
  • Democrats Are the Know-Nothings About the Constitution

    09/24/2013 2:31:34 PM PDT · by jazusamo · 20 replies
    Creators Syndicate ^ | September 25, 2013 | Betsy McCaughey
    Displaying their ignorance of the U.S. Constitution, Democratic bigwigs are excoriating Republican members of the House of Representatives for attaching a condition — no Obamacare — to a stopgap bill to fund the government when the new fiscal year begins Oct. 1. Senate Majority Leader Harry Reid called it "extortion". Sen. Steny Hoyer labeled it "hostage-taking". Representative Nancy Pelosi termed it "legislative arson". In truth, what the House Republicans are doing is not blackmail. It's checks and balances in action. Congress has always had the power to attach almost any condition — including repealing or changing a law — to...
  • Obama calls Boehner, rules out debt negotiations

    09/21/2013 4:09:45 PM PDT · by afraidfortherepublic · 91 replies
    Politico ^ | 9-21-13 | JAKE SHERMAN and JOHN BRESNAHAN
    President Barack Obama is once again warning House Republicans that he will not negotiate over a debt-ceiling increase, even as the U.S. government moves closer to its borrowing limit. Obama called Speaker John Boehner Friday night to reiterate his hard-line stance. The Ohio Republican’s office said the president called to say “he wouldn’t negotiate with him on the debt limit.” “Given the long history of using debt limit increases to achieve bipartisan deficit reduction and economic reforms, the speaker was disappointed but told the president that the two chambers of Congress will chart the path ahead,” a Boehner aide said...