Geithner: US debt ceiling will be hit by May 16

WASHINGTON (MarketWatch) — Treasury Secretary Timothy Geithner on Monday said the U.S. would hit the debt ceiling no later than May 16, a much more precise forecast than prior projections.

http://www.marketwatch.com/story/de...ay-16-geithner-says-2011-04-04?dist=countdown

 

I have been writing about this debt ceiling nonsense for a couple of months now, its a given FACT they will push for a higher debt ceiling in the next few weeks, yet another fucking joke of an economic turn around!!!!

How about this, lets not raise the debt ceiling for once and learn how to cut back on spending....guess that wont happen though, why risk an economic collapse, all of this so called turn around in the economy has only been through spending and creating asset bubbles thanks to Bubble ben bernanke and geithner!!!!

 

The Obama administration has been urging Congress to raise the ceiling with no strings attached.

Some in Congress, including Democratic Sen. Joe Manchin of West Virginia and Republican Sen. Marco Rubio of Florida, say they won’t vote to boost the debt ceiling unless there’s a corresponding plan to rein in the U.S. budget deficit.



hahaha

"A corresponding plan to rein in the U.S. budget deficit"

Are they serious, a plan, this plan should have been in place as they were raising the debt ceiling the previous 3 or 4 times!!!! Who are they trying to kid, there is never going to be a plan if all they do is continually raise the debt ceiling. Fucking fools!!!!

 

Anyone want to wager what the new debt limit will be. Or is until the chinese/japanese/UK/EU(REST OF THE WORLD) comes calling for their interest payments? "Too big to fail" seems a little passe now. How about indefinite debt exonoration with no contract term limits with current or future ownership rights forfeited indefinitely.

Akuma

 

1.5 trillion a year deficit. It can only be gap closed by cutting Medicare Military, Pensions, Salaries by over 50%. Instant depression. Riots. 40% unemployment. In one year, tanks in the street and hunger.

 

Who cares, really?

 

It is nonsense. What purpose does it serve if the country just keeps blowing through it? And at what point does the spiraling debt become unpayable? Since we're around 100% of GDP I don't think we are there but I don't think we're very far either. Spend on America...

EDIT: Ran to the grocery store today and couldn't believe we're already at 4 bucks per gallon of gas at the same time bread hit 4 bucks per fucking loaf. No inflation my ass. I guess the debt will just be inflated away until the end of time. Bend over America as the government spends on...

 

Chart says it all, tells you they have no care in the world to limit spending.

 

Im in the grocery store 1-2X a week and tell you bread is $3.99+ a loaf....

I can name another hundred items that are through the roof, take a look at TIDE detergent, $16 fucking dollars.....

2 liter bottle of soda $1.89!!!

Gillette clear gel deodorant $5.25+++++

I have been shopping for years and can tell you grocery items continue to rise on a monthly basis now. Many people will ignore the fact that prices are rising but in general inflation is here and rising quickly!!! Only people who think there is no inflation is the one and only BUBBLE ben bernanke!!!!!!!!!!!!!!