Fox just reported we have almost hit the $12.1 trillion debt ceiling Stenny Hoyer just said he is going to increase it $1.8 trillion by the end of the year. he said "when you owe money, you have to pay it"...so how is borrowing more money paying the debt???? http://thehill.com/homenews/senate/57493-senate-must-raise-debt-ceiling-above-12t in 2006 it was $9trillion: http://www.npr.org/templates/story/story.php?storyId=5282521 are we doomed?
Thats the illusion. There is no real debt ceiling. I mean what is the point of even having a debt ceiling if you are just going to raise it everytime you get close to it? Basically we do not have a debt ceiling.
Correct! Congress can raise the debt ceiling to a few quadrillion and it would be a meaningless number. The market will determine what the debt ceiling is. Until then...borrow, borrow, borrow!
What else would you expect from a politician? Before he can pass his NEXT stimulus (not the last), the debt ceiling must be raised. All the debt ceiling really is, is an artificial number for the max amount of debt into which the people are to repay, with interest, to international lenders. That number is no different than a woman's emotion... here today, elsewhere tomorrow. Don't bother calling DC, they aren't asking for your opinion.