Uh oh Geithner warns again of the US debt ceiling

Discussion in 'Economics' started by S2007S, Dec 27, 2012.

  1. S2007S


    Oh no not again, looks like the debt ceiling is going to be hit once again, but no worries because they are just going to raise it a couple of more trillion like they did last time, no worries again, just keep printing more worthless dollars and every thing will be perfect....I dont even know why Geithner has to put the warning out when everything is going to come together at the last minute as it always does....just raise the debt ceiling to say $250 Trillion and keep spending those worthless dollars...there is no fix to this financial crisis except to raise the debt ceiling over and over again, print money, keep rates at 0%, introduce a new QE every 6 months, BUBBLE ben bernanke has all the right answers :)

    Geithner Warns: US Hits Debt Ceiling Monday

    Published: Wednesday, 26 Dec 2012 | 4:40 PM ET
    By: Matt Twomey
    CNBC.com Writer/Producer

    Treasury Secretary Timothy Geithner on Wednesday notified Congress that the U.S. is going to hit the debt ceiling on New Year's Eve.

    "I am writing to inform you that the statutory debt limit will be reached on December 31, 2012," he wrote in a letter to Congress, "and to notify you that the Treasury Department will shortly begin taking certain extraordinary measures authorized by law to temporarily postpone the date that the United States would otherwise default on its legal obligations."

    Such measures, he said, can create some $200 billion in headroom under the debt limit, which would buy a couple months' time under normal circumstances. However, because of the impending "fiscal cliff," the effect of such measures can't be certain, he wrote.

  2. clacy


    This is what the American people want. They want deficit spending despite what they claim. Any time you talk about specific cuts people come unglued when "their program" is on the chopping block.

    They certainly would rather have their pork than control the deficit and the politicians love every single minute of it
  3. We already knew this. No surprise here.
  4. BSAM


    They will change their minds one day, brother Clacy.
    It's already too late, though.