The Debt Ceiling!

[Sunshine]

THE DEBT CEILING








* Democrats don't understand THE DEBT CEILING







* Republicans don't understand THE DEBT CEILING







* Liberals don't understand THE DEBT CEILING







* NO ONE understands THE DEBT CEILING







* SO - Allow me to explain...



Let's say you come home from work and find there has

been a sewer backup in your neighborhood. Your home has
sewage all the way up to your ceilings.


What do you think you should do? Raise the ceilings or

pump out the shit?

Your choice will come on election day. Don't miss the opportunity.

 

[waltky]

Granny says dat be the Markie de Beast...

Debt Up $6.666 Trillion Under Obama
February 4, 2014 -- The debt of the U.S. government has increased $6.666 trillion since President Barack Obama took office on Jan. 20, 2009, according to the latest numbers released by the Treasury Department.

When President Obama was first inaugurated on Jan. 20, 2009, the debt of the U.S. government was $10,626,877,048,913.08, according to the Treasury Department’s Bureau of the Public Debt. As of Jan. 31, 2014, the latest day reported, the debt was $17,293,019,654,983.61—an increase of $6,666,142,606,070.53 since Obama’s first inauguration.

The total debt of the United States did not exceed $6.666 trillion until July 2003. In the little more than five years of the Obama presidency, the U.S. has accumulated as much new debt as it did in it’s first 227 years.

Debt Up $6.666 Trillion Under Obama | CNS News

 

[waltky]

Governing by crisis...

Amid Congressional Leadership Crisis, Momentous US Fiscal Deadlines Loom
Sunday 18th October, 2015 | WASHINGTON - The U.S. Congress faces critical fiscal deadlines at a time of upheaval and uncertainty on Capitol Hill. Lawmakers are returning from a weeklong recess still wondering who will lead the House of Representatives.

It has been nearly a month since House Speaker John Boehner announced his departure effective at the end of this month. No successor has been identified, much less chosen. Congressman Paul Ryan, the 2012 Republican vice presidential nominee, gives no sign of acquiescing to intense pressure from party elders to seek the post. A leadership vacuum could force Boehner to postpone his retirement and lead a fractured Republican caucus as momentous deadlines loom. Last week, the Treasury Department informed Boehner the U.S. government risks running out of funds by November 3 unless the federal borrowing limit is increased. "It would put the United States at real risk for the very first time in our history of not being able to pay our bills," said White House spokesman Josh Earnest Thursday.

Many Republicans, especially ultra-conservative hardliners, have long refused to vote to raise the debt ceiling unless the measure is accompanied by spending cuts to slow the pace at which America runs up the national debt. "You know, to be honest, what I'd like to see on the debt limit is Republican leaders fight for something, for Pete's sake. Anything," said Republican Senator and presidential candidate Ted Cruz on NBC's Meet the Press program Sunday. "We have a $19 trillion debt. The reason that is a problem is we only have an $18 trillion economy," said another presidential aspirant, Republican Senator Marco Rubio at a recent campaign event.

President Barack Obama has ruled out negotiations over the borrowing limit, arguing it's Congress' duty to avoid a catastrophic U.S. debt default. "Increasing the debt limit does not authorize any new spending. It simply allows the Treasury to pay for expenditures that Congress themselves already have approved," said Earnest. In addition to the debt ceiling deadline, Congress has until December 11 to extend the U.S. government's spending authority or risk another partial federal shutdown. Discussions between the White House and congressional leaders are reportedly progressing on a longer term spending deal, but until a new House speaker is chosen, it is not clear who would see a deal to fruition or bring it up for a vote.

Amid Congressional Leadership Crisis Momentous US Fiscal Deadlines Loom

 

[EdwardBaiamonte]

Raise the ceilings or

pump out the shit?

obviously you would want to pump out and not raise the debt ceiling because you don't want to go bankrupt like Greece.

Do you have the IQ to understand?

 

[waltky]

Granny says, "Dat's right - the sky is fallin'...

Duck! Treasury will hit the debt limit soon unless Congress votes to raise it
May 30, 2017 • As Congress deals with battles over health care legislation and the budget this summer, it is looking more and more likely that a fight over raising the country’s debt ceiling will be added to its agenda.

The debt ceiling is a cap on how much the U.S. Treasury can borrow to pay for government expenses, and it can only be altered by an act of Congress. Lawmakers had been hoping they could put off dealing with it until the fall. But key figures within the Trump administration are asking Congress to take action as soon as next month, saying that tax revenue has been less than expected. The Treasury Department’s power to actually borrow money ran out in March, and it has been operating since then with its cash on hand. “We need to make sure we raise our debt ceiling to pay our debts,” Treasury Secretary Steven Mnuchin told a House subcommittee last week. “My understanding is that the receipts currently are coming in a little bit slower than expected, and you may soon hear from [Mnuchin] regarding a change in the date,” Mick Mulvaney, director of the Office of Management and Budget, told a separate House panel.

Republicans have acknowledged the need to raise the debt ceiling but are hesitant to commit to a vote before they recess in late July. “We have to do it. We can’t let the government default,” Sen. Orrin Hatch, R-Utah, told Politico. A vote on the debt limit could be another headache for Republican leadership, however, as it comes in addition to other hotly contested policy debates. House Speaker Paul Ryan, R-Wis., and Senate Majority Leader Mitch McConnell, R-Ky., will have to reconcile vastly different views on the topic within their caucuses.

Senate Majority Leader Mitch McConnell, center, arrives to talk to the media in Washington on May 23​

This is because the most conservative members of the House, known as the Freedom Caucus, have already signaled that they will demand spending cuts as part of any bill to raise the debt ceiling. Other Republicans, as well as most Democrats, want what is called a “clean” increase with no strings attached. “We oppose any clean raising of the debt ceiling, we call for the debt ceiling to be addressed by Congress prior to the August Recess, and we demand that any increase of the debt ceiling be paired with policy that addresses Washington’s unsustainable spending by cutting where necessary, capping where able, and working to balance in the near future,” the caucus wrote in an official statement.

Widespread opposition from the most conservative members of the caucus could force Ryan and McConnell to seek Democratic help in pushing a bill to passage. Some measure of bipartisan support will already be required to clear the 60-vote threshold to squelch a filibuster in the Senate, since Republicans have only 52 members in that house. While Democrats in both the Senate and House routinely voted to raise the borrowing limit under President Barack Obama, some members are indicating that they will look to use their leverage to get policy concessions from across the aisle. “We should consider what additional conditions we might want to consider imposing,” Sen. Richard Blumenthal, D-Conn., told Politico.

MORE

 

[midcan5]

Debt only matters for republicans and the haves when the have nots and the needy get a small sliver of the pie. This is a law of thought in America today on the right who forget history and are managed by big money, the corporate conservative complex controls the idea of debt. Whatever they make up becomes the new talking point of the sycophants who follow along.

"Such tendencies in American Life as isolationism and the extreme nationalism that usually goes with it, hatred of Europe and Europeans, racial, religious, and nativist phobias, resentment of big business, trade-unionism, intellectuals, the eastern seaboard and its culture - all these have been found not only in opposition to reform but also at times oddly combined with it. One of the most interesting and least studied aspects of American Life has been a frequent recurrence of the demand for reforms, many of them aimed at the remedy of genuine ills, combined with strong moral convictions and with a choice of hatred as a kind of creed." 'The Age of Reform' by Richard Hofstadter