Tag Archives: debt ceiling

The Only Options

13 Friday Jan 2023

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Grabbler witch Janet Yellen has ordered the empire’s new puppet in the houze o’ Brahma to pile more debt on the slaves.

But, “It is unlikely that cash and extraordinary measures will be exhausted before early June,” Yellen added.

She warned McCarthy that it is “critical that Congress act in a timely manner to increase or suspend the debt limit.”

“Failure to meet the government’s obligations would cause irreparable harm to the U.S. economy, the livelihoods of all Americans, and global financial stability,” Yellen wrote.

Cause suspending or raising are the only options, right? Not that any of this matters anymore. But, if he hasn’t already bowed like a dog already, when he does it will be just another example of the total failure of the satanic states empire that the Boomers, cons, and civnats will ignore.

*yawn*

Just Raise It Already

10 Wednesday Jul 2019

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Is the debt ceiling “controversy” still a thing?

House Speaker Nancy Pelosi, D-Calif., on Tuesday didn’t rule out voting on a debt limit increase before the August recess, though she indicated the need to raise the discretionary spending caps for fiscal 2020 is still an integral part of the discussions.

“Let’s see how the conversations go,” she said. “We certainly do not want any thought of default on the part of the full faith and credit of the United States of America. That’s never been what we’ve been about, but there are those on the Republican side who have embraced that again and again.”

Estimates from the Treasury Department and the Congressional Budget Office have put the deadline for raising the debt limit, required for the U.S. to continue to be able to pay for all government services and benefits, sometime in the latter half of 2019, likely by early October.

And, raise it HIGH this time.

Say It Isn’t So

12 Monday Nov 2018

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Debt, debt, and more debt:

The federal government is set to reinstate its borrowing limit, and a new analysis indicates that it will be a record-high $22 trillion — and then, it won’t provide enough money to fund the government past summer.

The shocking number, however, is only slightly higher than the current actual debt of some $21 trillion.

The ceiling has been in suspension and the debt has grown under President Trump. It is set to be reinstated on March 2, 2019.

A new Bipartisan Policy Center estimate suggests that the new limit will be $22 trillion, assuming no action is taken by lawmakers before that time.

The BPC analysis said: “Treasury will be able to fully fund the government until at least mid-summer 2019 by using extraordinary measures, cash-on-hand, and incoming cash flow. But costs to taxpayers will start earlier from factors associated with reaching the debt limit such as higher interest rates on U.S. Treasury securities.”

Through mid-Summer, 2019… That’s with the GOP at the helm, BTW. Dems, preparing to raid Congress, are calling for – wait for it – more gun control!!!

Democrats say they will pass the most aggressive gun-control legislation in decades when they become the House majority in January, plans they renewed this week in the aftermath of a mass killing in a California bar.

Their efforts will be spurred by an incoming class of pro-gun-control lawmakers who scored big in Tuesday’s midterm elections, although any measure would likely meet stiff resistance in the GOP-controlled Senate.

Democrats ousted at least 15 House Republicans with “A” National Rifle Association ratings, while the candidates elected to replace them all scored an “F” NRA rating.

“This new majority is not going to be afraid of our shadow,” said Mike Thompson, a California Democrat who is chairman of the House Gun Violence Prevention Task Force. “We know that we’ve been elected to do a job, and we’re going to do it.”

More like doing a number than a job, really. So, with all the money flying away and the thugs coming for your gat … just relax with some happy social media to beat the blues. Oh, wait.

The link between the two has been talked about for years, but a causal connection had never been proven. For the first time, University of Pennsylvania research based on experimental data connects Facebook, Snapchat, and Instagram use to decreased well-being. Psychologist Melissa G. Hunt published her findings in the December Journal of Social and Clinical Psychology.

Well, at least Big Social doesn’t spy on you. Oh, wait…

Money, Debt, and … Questions

12 Tuesday Sep 2017

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First, median incomes in 2016 set an all time record. Rather, they beat out (or caught up to) those from 1999. Hooray! We’ve only lost two decades of growth. And incomes, recall, are usually the last thing to catch up – before a new correction.

One of the first things to go up and one which goes up fastest … is new government debt. See: the Instantaneous manufacture of $317,645,000,000 worth of new debt in one day! It’s a miracle! Thanks to Congress and the Prez. for the temporary spending boost on the way to infinite and perpetual indebtedness.

For the latter story you can thank the government and their pet, the Federal Reserve. The Fed was one of three marvels foisted on the formerly free people in 1913.

Speaking of foisting – yesterday was the 16th anniversary of the 9/11 attacks. I was a little busy and, therefore, this will likely be my only remembrance note this year. (Unlike last year – see Sept. 2016 archives).

Just in time for the anniversary, engineering expert Dr. Leroy Hulsey and his research team released a study of the collapse of WTC Tower 7.  It’s kind of part one of the study anyway. He (they) have some questions about the official narrative.

You may recall that the ninth plane (from Toronto) hit WTC 7. The impact and resulting conflagration caused substantial weakening of the steel frame inside the tower (much like WTC 1 and 2), which caused a complete (and VERY neat and self-contained) collapse.

I completely made that last paragraph up. No plane hit No. 7. There was only a small, office-material-fueled fire (with temperatures insufficient to melt or weaken steel). And the fire almost burned out long before the collapse – maybe around the time the media was parroting that the tower had collapsed, even as it stood in the background of their live broadcasts.

Not many believe the “official” story about No. 7 or anything else that day, not even members of the Commission impaneled to investigate it. This study sheds a little light with more to come. See if you will.

wtc7comparisons

Ken Doc.

Uni-Party Unison: Debt Forever!

07 Thursday Sep 2017

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Donald Trump (R), Paul Ryan (R), Charles Schumer (D), Nancy Pelosi (D), et al (R & D) are working hard on a plan to scrap the debt ceiling debacles forever:

President Trump and Senate Minority Leader Charles E. Schumer (D-N.Y.) have agreed to pursue a deal that would permanently remove the requirement that Congress repeatedly raise the debt ceiling, three people familiar with the decision said.

Trump and Schumer discussed the idea Wednesday during an Oval Office meeting. The two, along with House Minority Leader Nancy Pelosi (D–Calif.), agreed to work together over the next several months to try to finalize a plan, which would need to be approved by Congress.

One of the people familiar described it as a “gentlemen’s agreement.”

With gentlemen like this who needs scoundrels?

Honestly, they might as well do away with the theater. D.C. is going to spend itself into oblivion regardless of what any law says. Might as well speed things up a bit.

“Conservatives” will surely spin this as a quid pro quo from Trump – maybe for his wall or tax relief or something. Whatever it is, watch it fail.

Let’s see how fast they can turn $20 Trillion (on books) into $40T, or $100T! I call $40T by 2025, outside maximum.

Long live the debt! Long live the funny money!

Y’all keep voting. Really making a difference!

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Scene from The Creature from Three Mile Island. Washington Post.

Through the Ceiling: Where the GOP will Succeed

30 Sunday Jul 2017

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They can’t or won’t repeal, replace, tune-up, or modify ObamaCare. They won’t cut taxes. They won’t maintain even the semblance of a coherent legislature.

But rest assured they will raise the debt ceiling. No idea what the guy in the story from Goldman (the one still working there and not in the administration) is fretting about. It’s a done deal.

In a letter to lawmakers Friday, U.S. Treasury Secretary Steven Mnuchin said the federal borrowing limit, or debt ceiling, needed to be raised by Sept. 29 or the government risked running out of money to pay its bills.

The Treasury Department has been employing cash-conservation measures since March, when borrowing hit the formal ceiling of nearly $20 trillion. Those measures are expected to run out in early to mid-October. When they do, the government won’t have money to pay interest on debt, write Social Security checks or make millions of other routine payments, unless it can tap credit markets for borrowing to raise additional cash. Missing payments could send financial markets in a tailspin.

It’s canon now; raise it and then raise it again. There’s no pretense anymore about fiscal responsibility. No more “this is the last time,” or “this one and then never again,” or “doing it now and then we’ll pare down the spending…” Blah, blah, blah. Up, up, up it goes.

The question is “how high?” And I have no idea. If they only through in another $Trillion or two, then they’ll be back again with this next year. Why not double it? Triple? Why not just leave it open-ended or infinite?

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Four Winds / Newsday.