This is BX @ Boxden.com


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


 Dec 27 - U.S. to hit $16.39 trillion debt ceiling on Monday
topic by bobbysteels18 - 12-27-2012, 04:55 PM - Boxden > BX Daily Bugle - news and headlines


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




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


Latest News Hot Topics    share this topic    Share this on Twitter Share this on Facebook

76 comments for "Dec 27 - U.S. to hit $16.39 trillion debt ceiling on Monday"


 12-27-2012, 05:49 PMaway - #2
ItAlY2BkLyN 220 heat pts220

  d 
space
$14,370 | 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.
 12-27-2012, 05:54 PMaway - #3
nightmare 411 heat pts411

  d 
space
$12,577 | POWERFUL
Originally Posted by ItAlY2BkLyN
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.
 12-27-2012, 07:14 PMaway - #4
Peter Griffin 3 heat pts

  d 
space
$6,093 | 12269824
Gotta love how this thread gets no attention
 12-27-2012, 07:23 PMonline - #5
Keno024 6 heat pts

  d 
space
$4,302 | 10069551
Originally Posted by Peter Griffin
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 ####ed 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.
 12-27-2012, 08:02 PMaway - #6
tdnupe3 4 heat pts

  d 
space
$2,519 | 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 st@bilized, 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!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
 12-27-2012, 08:09 PMaway - #7
nightmare 411 heat pts411

  d 
space
$12,577 | POWERFUL
Originally Posted by Peter Griffin
Gotta love how this thread gets no attention
why does it matter?

either someone

will say #### 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

 12-27-2012, 10:55 PMaway - #8
bobbysteels18 523 heat pts523

  d 
space
$5,860 | POWERFUL
Originally Posted by tdnupe3
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 st@bilized, 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
 12-27-2012, 11:41 PMaway - #9
Fras1788 156 heat pts156

  d 
space
$10,361 | POWERFUL
The American Dream Film-Full Length - YouTube
 12-28-2012, 02:09 AMonline - #10
Jazzy Soul 24 heat pts24

  d 
space
$11,268 | POWERFUL
Originally Posted by tdnupe3
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 st@bilized, 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.
 12-28-2012, 07:03 AMaway - #11
tdnupe3 4 heat pts

  d 
space
$2,519 | POWERFUL
Originally Posted by bobbysteels18
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
Originally Posted by Jazzy Soul
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.
 12-28-2012, 07:04 AMaway - #12
mastakillah21 7 heat pts

  d 
space
$4,067 | POWERFUL
Surprised there hasnt been a "Bushs fault" post yet.. i'l wait tho
 12-28-2012, 07:09 AMaway - #13
nightmare 411 heat pts411

  d 
space
$12,577 | POWERFUL
Originally Posted by tdnupe3
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 st@bilized, 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
 12-28-2012, 07:13 AMaway - #14
nightmare 411 heat pts411

  d 
space
$12,577 | POWERFUL
Originally Posted by tdnupe3
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.
 12-28-2012, 08:54 AMaway - #15
rawchester 5 heat pts

  d 
space
$3,980 | 12984863
Originally Posted by tdnupe3
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.
 12-28-2012, 09:19 AMaway - #16
tdnupe3 4 heat pts

  d 
space
$2,519 | POWERFUL
Originally Posted by rawchester
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.
 12-28-2012, 09:24 AMonline - #17
Jazzy Soul 24 heat pts24

  d 
space
$11,268 | 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.
 12-28-2012, 09:24 AMaway - #18
rawchester 5 heat pts

  d 
space
$3,980 | 12984863
^^ 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.
 12-28-2012, 10:01 AMaway - #19
RubbahBandMayn 

  d 
space
$6,270 | POWERFUL
Damn I'm scared AF to have kids now. This #### is too wild out here

Killer Mike - American Dream [normal speed song] - YouTube
 12-28-2012, 10:03 AMaway - #20
tdnupe3 4 heat pts

  d 
space
$2,519 | POWERFUL
Originally Posted by Jazzy Soul
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 #### that we KNOW we don't need, but we have become such brand wh#res 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.......... ####, 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.
 
 


Go Back   Boxden.Com - Stay First. Follow BX. > BX Table Of Contents > BX Daily Bugle - news and headlines
    
         

 



Latest hot topics on fire the past 48 hrs
Image inside  Jul 25 - Man, 80, says he shot burglar after pregnanc..
55 comments
Image inside  Gorgeous Dominicana-Smash or Pass???
51 comments
Image inside  First Look at Vision from Avengers: Age of Ultron (Ha..
75 comments
 NBA Chandler Parsons Calls James Haren's Role Players Comm...
New reply 38 seconds ago - 117 comments - by sho 2010
 NFL Jason Collins To Dungy "shouldn't You Want All Ch...
New reply 4 minutes ago - 64 comments - by Crown267
  French Montana: "all Lyrical Rappers I Know Are B...
New reply 2 minutes ago - 197 comments - by reelife
 MMA Jones-gustafsson 2 Postponed; Dc Gets Title Shot
New reply 5 minutes ago - 54 comments - by Ricky Towel
 Image(s) inside How Smart Are You Bx Niggas!
New reply 3 minutes ago - 162 comments - by kingdavid22
 Image(s) inside Which Rapper Has The Hottest Chick In The Game?
New reply 8 minutes ago - 77 comments - by Ari Gold
 Video inside The Walking Dead Season 5 Trailer
New reply 3 minutes ago - 62 comments - by lboog1423
 Image(s) inside Chief Keef Sosa Glo In The 2st Grade
New reply 11 minutes ago - 114 comments - by inetol

Like BX on Facebook Follow BX on Twitter
5,755 fans of BX | none new today 4,750 following | none new today

hot topic blog       hip-hop   |   sports   |   movies   |   games   |   news   |   wild'ish   |   gear   |   rides   |   tech

contact us   |   mobile   |   privacy statement

 Boxden.com. 1998 - end of time.