Boxden hiphop sports wild'ish games movies news eyecandy tech gear rides
trending now most viewers #top20 top yesterday all sections videos pics tracks headlines

Dec 27 - U.S. to hit $16.39 trillion debt ceiling on Monday

most watched this minute | see more
most viewed right now
214 viewing
Rick Ross Admits That Meek Mill Lost To Drake On "Foreclosures"
199 comments
@hiphop
most viewed right now
151 viewing
 BOX Hell 2 the Naw Mayweather Bodyguard gets dropped.
24 comments
@sports
most viewed right now
86 viewing
 Video inside 10 Mysterious Archaeological Discoveries No One Can Explain
39 comments
@wild'ish
most viewed right now
67 viewing
 Guess it's safe to say Tyga been stimulating Kylie
26 comments
@hiphop
people viewing this topic:   (0 members and 1 guests)
 

let em know Share this on TwitterShare this on Facebook
 Dec 27 - U.S. to hit $16.39 trillion debt ceiling on Monday
Unread 3 years agoclass of '05 - away - #1
3995 pageviews
76 comments


bobbysteels18 553 heat pts553 space
avatar space
The World is your's
space
$6,404 | POWERFUL
U.S. to hit $16.39 trillion debt ceiling on Monday



[pic - click to view]



Government borrowing will hit the debt ceiling on Monday, Treasury Secretary Tim Geithner said in a letter to Congress Wednesday.
As a result, the Treasury Department will soon start using what it calls "extraordinary measures" to prevent government borrowing from exceeding the legal limit.

Such measures include suspending the reinvestment of federal workers' retirement account contributions in short-term government bonds.
On Monday, debt subject to the limit was just $95 billion below the $16.394 trillion debt ceiling.
All told, the extraordinary measures can create about $200 billion of headroom under the limit -- normally about two months worth of borrowing.
But it's unclear how much time the extraordinary measures can buy now because there are so many unanswered questions about tax and spending policies, Geithner said, referring to the lack of any resolution of the fiscal cliff.
"If left unresolved, the expiring tax provisions and automatic spending cuts, as well as the attendant delays in filing of tax returns, would have the effect of adding some additional time to the duration of the extraordinary measures," he wrote.
After the extraordinary measures run out, Treasury won't be able to pay all the country's bills in full and on time. At that point, the United States will run the very real risk that it could default on some of its obligations.
Geithner has predicted for months that the country would hit the debt ceiling by the end of December.
But Congress, first consumed with the 2012 elections and now with the fiscal cliff, has made little effort to raise the ceiling.
Now there's a good chance the debt ceiling issue won't be resolved until the 11th hour and only after an ugly f!ght.
Indeed, some Republicans have been saying they view the debt ceiling as leverage in budget negotiations in early 2013 in their bid to secure spending cuts.
Before fiscal cliff legislation died last week, House Speaker John Boehner offered President Obama a one-year debt ceiling increase, but only on the condition that spending cuts and reforms exceeded the size of any increase.


The last standoff over the debt ceiling in 2011 ended badly, with Congress raising it only at the last minute. The debacle led to the downgrade of the country's AAA credit rating and caused tumult in the markets.
The Government Accountability Office has long called for Congress to come up with a smarter way to handle the debt ceiling.
"Congress should consider ways to better link decisions about the debt limit with decisions about spending and revenue to avoid potential disruptions to the Treasury market and to help inform the fiscal policy debate in a timely way," the GAO said in a recent report.
Meanwhile, a variety of fiscal and monetary experts have called for the debt ceiling to be abolished altogether.



Geithner: U.S. to hit debt ceiling on Monday - Dec. 26, 2012
Reply With Quote
2 peeps gave props to bobbysteels18 hot topic  (12-28-2012) , YOUNGZERO (12-29-2012)

top in section
34 viewing
 Aug 31 - Transformer student drops class after 200 protest for and against her
42 comments
top in news/24hrs
top in section
17 viewing
 Article inside Marvel Studios is being integrated into Walt Disney, Kevin Feige Will Now Report to Disney
8 comments
top in movies/24hrs

Unread 3 years agoclass of '04 - on now - #2
ItAlY2BkLyN 231 heat pts231 space
avatar space
Mile Hi State of Mind
space
$17,920 | POWERFUL
they keep pointing fingers at each other, keeping us arguing and blaming political parties, when both parties are to blame. all senators and all congressmen get free healthcare. they all get a salary retirement income even after 1yr in office. I blame them for us even reaching the fiscal cliff.
Reply With Quote
Unread 3 years agoclass of '06 - away - #3
nightmare 429 heat pts429 space
avatar space
Senior Member
space
$13,053 | POWERFUL
ItAlY2BkLyN said:
they keep pointing fingers at each other, keeping us arguing and blaming political parties, when both parties are to blame. all senators and all congressmen get free healthcare. they all get a salary retirement income even after 1yr in office. I blame them for us even reaching the fiscal cliff.
Reply With Quote
Unread 3 years agoclass of '05 - away - #4
Peter Griffin 3 heat pts space
avatar space
Senior Member
space
$6,433 | 13326070
Gotta love how this thread gets no attention
Reply With Quote
Unread 3 years agoclass of '08 - away - #5
Keno024 9 heat pts space
avatar space
Senior Member
space
$5,138 | 14664896
Peter Griffin said:
Gotta love how this thread gets no attention
what do you want folks to do bicker and f!ght over which party is to blame. Until the news reads USA is BANKRUPT then I'll say such and such fu*ked up. In due time the debt will creep back down and maybe in 20 years if the world makes it that far we'll be in surplus.
Reply With Quote
Unread 3 years agoclass of '08 - away - #6
tdnupe3 5 heat pts space
avatar space
Senior Member
space
$2,841 | POWERFUL
This was intentional. They set the "fiscal cliff" scenario up when the debt ceiling debate came up a couple of summers ago. They set the "cliff" up so that they would HAVE to come to an agreement in order to tackle the problem of too much spending and not enough revenue.

You HAVE GOT to see this as being exactly what was expected. Why even structure things so that this would happen unless you intended it to happen. The left knows that taxes have go to go up, and what better way to do it than to make it seem as though it's the right's fault that it happened. Conversely, the right knows that spending has got to be stabilized, and what better way to do it than to make it seem as though it's someone else's fault. Hell, they are trying to blame the Speaker now.

This IS THE DEAL. Don't be nave. They want you to point the finger. They know that the longer we argue with one another, the easier it is for them to do their job (which is to further corporate interests). This is not a "tin-foil" type of statement, but THIS IS THEIR DEAL. They just cloud it by saying, "we couldn't reach a deal". They will take us over the cliff, then go back rewrite the tax code (raising taxes on everyone), cut programs (primarily education and health care for the indigent), and continue to blame the other side for not doing their job.

WAKE THE FUKK UP PEOPLE, PLEASE!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Reply With Quote
Unread 3 years agoclass of '06 - away - #7
nightmare 429 heat pts429 space
avatar space
Senior Member
space
$13,053 | POWERFUL
Peter Griffin said:
Gotta love how this thread gets no attention
why does it matter?

either someone

will say fu*k these cacs who run this country and take money from minorities

or

its the welfare leech minorities fault, because their entitlement programs are ruining the budget

and then a racewar will ensue

Reply With Quote
Unread 3 years agoclass of '05 - away - #8
bobbysteels18 553 heat pts553 space
avatar space
The World is your's
space
$6,404 | POWERFUL
tdnupe3 said:
This was intentional. They set the "fiscal cliff" scenario up when the debt ceiling debate came up a couple of summers ago. They set the "cliff" up so that they would HAVE to come to an agreement in order to tackle the problem of too much spending and not enough revenue.

You HAVE GOT to see this as being exactly what was expected. Why even structure things so that this would happen unless you intended it to happen. The left knows that taxes have go to go up, and what better way to do it than to make it seem as though it's the right's fault that it happened. Conversely, the right knows that spending has got to be stabilized, and what better way to do it than to make it seem as though it's someone else's fault. Hell, they are trying to blame the Speaker now.

This IS THE DEAL. Don't be nave. They want you to point the finger. They know that the longer we argue with one another, the easier it is for them to do their job (which is to further corporate interests). This is not a "tin-foil" type of statement, but THIS IS THEIR DEAL. They just cloud it by saying, "we couldn't reach a deal". They will take us over the cliff, then go back rewrite the tax code (raising taxes on everyone), cut programs (primarily education and health care for the indigent), and continue to blame the other side for not doing their job.

WAKE THE FUKK UP PEOPLE, PLEASE!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

Good point. But I would like to know what are they gonna do with all this extra money the GOV will get when all these taxes go up. Think maybe it would goes towards paying down our debt
Reply With Quote
Unread 3 years agoclass of '10 - away - #9
Frasier 212 heat pts212 space
avatar space
Poopurjeans
space
$14,726 | POWERFUL

[video - click to view]

Reply With Quote
Unread 3 years agoclass of '05 - away - #10
Jazzy Soul 27 heat pts27 space
avatar space
As ↑, So ↓
space
$14,176 | POWERFUL
tdnupe3 said:
This was intentional. They set the "fiscal cliff" scenario up when the debt ceiling debate came up a couple of summers ago. They set the "cliff" up so that they would HAVE to come to an agreement in order to tackle the problem of too much spending and not enough revenue.

You HAVE GOT to see this as being exactly what was expected. Why even structure things so that this would happen unless you intended it to happen. The left knows that taxes have go to go up, and what better way to do it than to make it seem as though it's the right's fault that it happened. Conversely, the right knows that spending has got to be stabilized, and what better way to do it than to make it seem as though it's someone else's fault. Hell, they are trying to blame the Speaker now.

This IS THE DEAL. Don't be nave. They want you to point the finger. They know that the longer we argue with one another, the easier it is for them to do their job (which is to further corporate interests). This is not a "tin-foil" type of statement, but THIS IS THEIR DEAL. They just cloud it by saying, "we couldn't reach a deal". They will take us over the cliff, then go back rewrite the tax code (raising taxes on everyone), cut programs (primarily education and health care for the indigent), and continue to blame the other side for not doing their job.

WAKE THE FUKK UP PEOPLE, PLEASE!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Wake up and do what exactly? Stop paying taxes? could work.
Reply With Quote
Unread 3 years agoclass of '08 - away - #11
tdnupe3 5 heat pts space
avatar space
Senior Member
space
$2,841 | POWERFUL
bobbysteels18 said:
Good point. But I would like to know what are they gonna do with all this extra money the GOV will get when all these taxes go up. Think maybe it would goes towards paying down our debt
Jazzy Soul said:
Wake up and do what exactly? Stop paying taxes? could work.
I'm just going to hit the hot spots and not go into a lengthy "lecture" about this:

The "extra" money that the Gov gets will go towards everything that taxes go towards now. The direction of the funds will not change. Most of the money that we owe (the "debt") is owed to us (the federal reserve). They would like you to believe that the bulk of the money we have been borrowing is international funds, but it isn't. Our main creditors are domestic. It is all about fractional banking. They are going to raise taxes because they HAVE to. It isn't necessarily a bad thing either. People complain about schools and public hospitals, but want their taxes to stay low, and that just doesn't work. Roads in this country are decaying to the point of being damn near third-world, and it is taxes that will fix them. I discussed cutting programs because I don't see them cutting much money from defense.

I would never advise anyone to stop paying taxes. I have a couple of friends that are in the Mooreish Nation, and they have been trying to get me obtain dual citizenship for years, but I have always said that I didn't want to do it. They don't pay taxes, but they reap the benefits of a tax paying citizen. My advice to people is to take the bulk of your money out of large banking institutions and put it into credit unions. I maintain an account at a large institution, but only because of the exposure they have. I keep the bulk of my funds in a credit union.

I am opening a restaurant in the next couple of months, and I will gladly pay taxes, but I will also speak with community leaders, the mayor, and judges often. It's really hard to change things at the federal level. Real change happens locally. People love to complain about stuff in DC, and they ignore the stuff that affects them on a daily basis. DC is a puppet show. That's what I mean when I tell people to wake up. DC is a game of monopoly. If you're not in the game, they don't care about you. But locally you have influence that can eventually reach DC.

Raising taxes is not a bad thing, unless they only raise taxes on people that can't afford it.
Reply With Quote
Unread 3 years agoclass of '07 - on now - #12
mastakillah21 7 heat pts space
avatar space
Always Skeemin
space
$4,855 | POWERFUL
Surprised there hasnt been a "Bushs fault" post yet.. i'l wait tho
Reply With Quote
Unread 3 years agoclass of '06 - away - #13
nightmare 429 heat pts429 space
avatar space
Senior Member
space
$13,053 | POWERFUL
tdnupe3 said:
This was intentional. They set the "fiscal cliff" scenario up when the debt ceiling debate came up a couple of summers ago. They set the "cliff" up so that they would HAVE to come to an agreement in order to tackle the problem of too much spending and not enough revenue.

You HAVE GOT to see this as being exactly what was expected. Why even structure things so that this would happen unless you intended it to happen. The left knows that taxes have go to go up, and what better way to do it than to make it seem as though it's the right's fault that it happened. Conversely, the right knows that spending has got to be stabilized, and what better way to do it than to make it seem as though it's someone else's fault. Hell, they are trying to blame the Speaker now.

This IS THE DEAL. Don't be nave. They want you to point the finger. They know that the longer we argue with one another, the easier it is for them to do their job (which is to further corporate interests). This is not a "tin-foil" type of statement, but THIS IS THEIR DEAL. They just cloud it by saying, "we couldn't reach a deal". They will take us over the cliff, then go back rewrite the tax code (raising taxes on everyone), cut programs (primarily education and health care for the indigent), and continue to blame the other side for not doing their job.

WAKE THE FUKK UP PEOPLE, PLEASE!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
100% true
Reply With Quote
Unread 3 years agoclass of '06 - away - #14
nightmare 429 heat pts429 space
avatar space
Senior Member
space
$13,053 | POWERFUL
tdnupe3 said:
I'm just going to hit the hot spots and not go into a lengthy "lecture" about this:

The "extra" money that the Gov gets will go towards everything that taxes go towards now. The direction of the funds will not change. Most of the money that we owe (the "debt") is owed to us (the federal reserve). They would like you to believe that the bulk of the money we have been borrowing is international funds, but it isn't. Our main creditors are domestic. It is all about fractional banking. They are going to raise taxes because they HAVE to. It isn't necessarily a bad thing either. People complain about schools and public hospitals, but want their taxes to stay low, and that just doesn't work. Roads in this country are decaying to the point of being damn near third-world, and it is taxes that will fix them. I discussed cutting programs because I don't see them cutting much money from defense.

I would never advise anyone to stop paying taxes. I have a couple of friends that are in the Mooreish Nation, and they have been trying to get me obtain dual citizenship for years, but I have always said that I didn't want to do it. They don't pay taxes, but they reap the benefits of a tax paying citizen. My advice to people is to take the bulk of your money out of large banking institutions and put it into credit unions. I maintain an account at a large institution, but only because of the exposure they have. I keep the bulk of my funds in a credit union.

I am opening a restaurant in the next couple of months, and I will gladly pay taxes, but I will also speak with community leaders, the mayor, and judges often. It's really hard to change things at the federal level. Real change happens locally. People love to complain about stuff in DC, and they ignore the stuff that affects them on a daily basis. DC is a puppet show. That's what I mean when I tell people to wake up. DC is a game of monopoly. If you're not in the game, they don't care about you. But locally you have influence that can eventually reach DC.

Raising taxes is not a bad thing, unless they only raise taxes on people that can't afford it.
Reply With Quote
Unread 3 years agoclass of '05 - away - #15
rawchester 5 heat pts space
avatar space
Senior Member
space
$4,147 | 13824879
tdnupe3 said:
I'm just going to hit the hot spots and not go into a lengthy "lecture" about this:

The "extra" money that the Gov gets will go towards everything that taxes go towards now. The direction of the funds will not change. Most of the money that we owe (the "debt") is owed to us (the federal reserve). They would like you to believe that the bulk of the money we have been borrowing is international funds, but it isn't. Our main creditors are domestic. It is all about fractional banking. They are going to raise taxes because they HAVE to. It isn't necessarily a bad thing either. People complain about schools and public hospitals, but want their taxes to stay low, and that just doesn't work. Roads in this country are decaying to the point of being damn near third-world, and it is taxes that will fix them. I discussed cutting programs because I don't see them cutting much money from defense.
When you talking about owing "us" money you're referring to the FED, which I can only hope you realize is a private institution. This herein lies the massive problem, not only for the USA but any country who borrows money from centralized banks. Countries are essentially borrowing from 4rd party institutions which sole purpose (like any other capitalist business) is to gain maximum profit. Read into international banking and you'll see where our problems begin.
Reply With Quote
Unread 3 years agoclass of '08 - away - #16
tdnupe3 5 heat pts space
avatar space
Senior Member
space
$2,841 | POWERFUL
rawchester said:
When you talking about owing "us" money you're referring to the FED, which I can only hope you realize is a private institution. This herein lies the massive problem, not only for the USA but any country who borrows money from centralized banks. Countries are essentially borrowing from 4rd party institutions which sole purpose (like any other capitalist business) is to gain maximum profit. Read into international banking and you'll see where our problems begin.
You're thinking along the right lines, but it's more about control than it is about profit. The FED prints our money. The control monetary policy. They set interest rates. When the government wants to borrow money, the FED creates it OUT OF THIN AIR.

So, every single dollar they "create" is already debt ridden. It is already owed to them when they create it. Money = DEBT. Slavery in it's simplest form. Every dollar you make is already owed to someone else by someone else. Then you're taxed on that same dollar. All this is before the application of interest.

It's more about "fractional" banking than it is about "international" banking. All banks are international.

So you see, when you say it's about them gaining the "maximum profit", what you have to understand is that IT'S ALL PROFIT for them. THEY CREATE THE MONEY, THEY CONTROL MONETARY POLICY, THEY SET INTEREST RATES.

Gold is the currency of Kings, Silver is the currency of Gentlemen, Bronze is the currency of peasants, but DEBT is the currency of SLAVES.
Reply With Quote
Unread 3 years agoclass of '05 - away - #17
Jazzy Soul 27 heat pts27 space
avatar space
As ↑, So ↓
space
$14,176 | POWERFUL
Lightbulb

It seems we have been operating in futility since the fed came into existence. We owe money to an institution that prints it out of thin air. If the "money" we are borrowing is supposed to not even exist, then what solution do we have for ever getting out from under their foot except hitting said institution in its pockets? Those of us who have taken out our money from the banks still allow the fed to practice fractional reserve lending to the country. So what do we do about that? Is the cessation of paying tax the beginning? I don't mind paying taxes either but not to a bunch of criminals.
Reply With Quote
Unread 3 years agoclass of '05 - away - #18
rawchester 5 heat pts space
avatar space
Senior Member
space
$4,147 | 13824879
^^ It is about 100% control, you are right in that. I didn't really want to write anything too long but I just wanted to point that tidbit out to you but it seems like you already know your stuff. America became doomed when Woodrow Wilson snuck the FED through congress. He later went on state that it was the single worst thing he could have done to his country. Someone on here posted an UNBELIEVABLy well researched article about money masters and how 'he who controls a countries money, controls it's people'. If I find it I will post it for everybody.

And you are spot on. America has become a slave to whom it borrows its money.
Reply With Quote
Unread 3 years agoclass of '07 - away - #19
RubbahBandMayn 2 heat pts space
avatar space
FREE Mumia Abu Jamal
space
$8,444 | POWERFUL
Damn I'm scared AF to have kids now. This sh*t is too wild out here


[video - click to view]

Reply With Quote
Unread 3 years agoclass of '08 - away - #20
tdnupe3 5 heat pts space
avatar space
Senior Member
space
$2,841 | POWERFUL
Jazzy Soul said:
It seems we have been operating in futility since the fed came into existence. We owe money to an institution that prints it out of thin air. If the "money" we are borrowing is supposed to not even exist, then what solution do we have for ever getting out from under their foot except hitting said institution in its pockets? Those of us who have taken out our money from the banks still allow the fed to practice fractional reserve lending to the country. So what do we do about that? Is the cessation of paying tax the beginning? I don't mind paying taxes either but not to a bunch of criminals.
It's kind of a catch 22. If you stop paying taxes, then you hurt the infrastructure of our country, but if you keep paying them, the powers that be will continue to do as they please with our funds. The best thing to do is to act locally. Speak to your local representatives and make sure that your state and local tax money is well spent. Federal money is more of a long term problem.

You begin by understanding that that dollar in your pocket is POWERFUL. Where you spend your money really matters. Buying what you need as opposed to what you want will make them take heed to what you have to say ("you" being the populous). They can't operate without people spending money, and spending a lot of it. People in this country buy sh*t that we KNOW we don't need, but we have become such brand wh0ores that we will gladly buy basketball shoes for $250 when we don't even play basketball. We pay $150 for jeans on a regular basis, when we can get jeans for $20-50 that fit exactly the same way. We spend $75,000 on cars so that people can look at us and say, "He is successful". We spend millions on homes when we don't have families to fill them. We gamble, drink, smoke, and fucc our way through our salaries, then we want MORE.

We are the all seeing, all hearing, all reading sons and daughters of this nation. We have the strongest information gathering and sharing tool in the history of humanity (the internet), and we waste it by tweeting and facebooking. We watch the news in disgust, which makes us cuss and yell at the television, look at our peers with disdain if they have a different view than ours, and we turn around do exactly nothing. Work, home, sleep....... work, home, sleep............ work, home, sleep.......... fu*k, drink, smoke.......... work, home, sleep............

I'm no revolutionary or out of the box thinker. I simply read, ingest information, and formulate an opinion based on the facts that are presented to me. I transfer information whenever I get an opportunity, and I hold my elected officials accountable. I'm probably on so many watch lists because of how many times I've written my senators and the POTUS.

Sorry for going off on such a rant, but to answer your question, I would suggest just spending your dollar wisely. Understand where your money is going and with whom you are spending it.
Reply With Quote
 
Home > all sections > BX Daily Bugle
  
    
          join bx

 


that hot ish yesterday


most viewed right now
46 viewing
Video inside The Weeknd dislikes Miley Cyrus :dead:
82 comments
22 hours ago
@hiphop
most viewed right now
24 viewing
Aug 31 - Walmart cuts workers hours after pay raise - GOT EM!
60 comments
19 hours ago
@news
most viewed right now
24 viewing
Image inside THICK Thai model in bikini at the beach
25 comments
2 days ago
@eyecandy
most viewed right now
18 viewing
TRICK DADDY BANKRUPT! Baby Mamas Are Expensive
47 comments
20 hours ago
@hiphop
most viewed right now
17 viewing
Video inside White Women Claiming the booty
30 comments
19 hours ago
@eyecandy
most viewed right now
16 viewing
Aug 30 - Scienctists Proves Consciousness Moves To Another Universe At Death
325 comments
2 days ago
@news
most viewed right now
14 viewing
Image inside How To Tell If Your 'Pirate Black' adidas Yeezy 350 Boosts Are Real or..
25 comments
2 days ago
@gear
most viewed right now
12 viewing
Article inside T-Mobile going after unlimited data abusers
48 comments
22 hours ago
@tech
^
contact us   |   bx@twitter   |   bx@facebook   |   privacy   |   search   |   BX 1998-end of time