PLYMCO_PILGRIM
Gold Member
Yesterday there were some lackluster headlines that Bonior was 'ready to negotiate' on that pesky raising the debt limit thing.
Well they didn't.
US government hits the debt ceiling
By Peter Schroeder - 05/16/11 08:32 PM ET
The U.S. government officially hit the federal debt limit Monday, prompting the Treasury Department to invoke new measures to prevent a default.
Treasury Secretary Timothy Geithner tapped into two government employee pension funds to free up cash, and warned in a letter to congressional leaders of catastrophic economic consequences if the ceiling is not hiked.
Though Geithners language was stark, his announcement lent little urgency to talks on raising the debt limit.
Negotiators led by Vice President Biden will not meet this week. And with the House on recess, and with Geithner saying U.S. borrowing authority would not be exhausted until Aug. 2, lawmakers and the White House have an 11-week timeframe to work out a deal.
US government hits the debt ceiling - TheHill.com
Makes you wonder how many more 'creative' manuvers will be used to avoid dealing with the issue? And how serious a crisis is it anyway when those negotiating a deal aren't even going to meet this week?
and PLEASE. Somebody explain to me how our fearless leaders HAVE to raise the debt limit and will do so if everybody agrees to cut spending.
If they cut spending, why do they need to raise the debt limit?
Does anybody besides me smell a rat here?
Why am I having trouble trusting Geinter on this? Oh thats right he couldn't even figure out turbo tax...durrrrrr.
I vote NO to raising the debt ceiling. We can cut back on military by bringing troops home from all the countries they are stationed in, cutting way back on and completely eliminating some social spending, freezing the pay of all elected officials (without backpay when its unfrozen) and instituting a 50/50 split on all public employee's health benefits.
We can also institute an import tax on ALL GOODS NOT MADE IN THE USA to help raise up revenue as we need both more revenue and less spending.
I have many more ideas but those are my tops.