Geithner Asks Congress to Increase Federal Debt Limit
There is nothing to see here. Move along.
AUGUST 8, 2009, 12:40 A.M. ET
By COREY BOLES and MICHAEL R. CRITTENDEN
Washington -- U.S. Treasury Secretary Timothy Geithner asked Congress to increase the $12.1 trillion debt limit on Friday, saying it is "critically important" that they act in the next two months.
Mr. Geithner, in a letter to U.S. lawmakers, said that the Treasury projects that the current debt limit could be reached as early mid-October. Increasing the limit is important to instilling confidence in global investors, Mr. Geithner said.
The Treasury didn't request a specific increase in the letter.
"It is critically important that Congress act before the limit is reached so that citizens and investors here and around the world can remain confident that the United States will always meet its obligations," Mr. Geithner said in a letter to lawmakers.
Mr. Geithner said the that it is "clearly a moment in our history" that requires support from both Democrats and Republicans for the increase.
"Congress has never failed to raise the debt limit when necessary," Mr. Geithner said.
Rest:
http://online.wsj.com/article/SB124970470294516541.html#arti...
The Ticking Time Bomb:
Beavis announced the debt
Beavis announced the debt ceiling request on a Friday evening. The O-Gang is scared because the answer might be 'NO'. This is going to be a showdown.
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"Live free or die: Death is not the worst of evils." -- General John Stark.
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"Live free or die: Death is not the worst of evils." -- General John Stark.
csb: You are right. They announced this on a Friday.....
like they do the bank failures for the same reason.
They also did not want to recommend how much they wanted to raise the debt limit. Maybe they want to leave it open ended this time, since it is rising every faster.
Buy the wheelbarrow stock options now!
Raising the debt limit will
Raising the debt limit will instill confidence in global investors? Raising limits does that?
The way it looks to me isn't that the U.S. is stating we will or that we're more likely to pay back the debt. All this increase really shows is that we plan to borrow even more.
Before you know it, we'll be borrowing money to pay back creditors that we borrowed from previously. That, to me, doesn't seem to instill confidence...
...
I have a better idea...
how about we end the FED and print our own currency, give up the empire and allow all people the pursuit of life, liberty, and happiness.
what do you mean?
do you mean like free banking or having the congress print our money?
"Greater than the force of mighty armies is the power of an idea whose time has come"
- Victor Hugo
Crazy talk, you
Crazy talk, you heathens!
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"Live free or die: Death is not the worst of evils." -- General John Stark.
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"Live free or die: Death is not the worst of evils." -- General John Stark.
Seem like only yesterday...
that they last increased it.
The debt is the key to their plans to kill us.
So here's what they've been doing with the money so far:
Kucinich: the Federal Reserve is paying banks NOT to make loans to struggling Americans!
http://www.youtube.com/watch?v=Gkf8VG3HL_8
Yet at the same time:
In a bait and switch, Fed "loans" half a trillion to foreign banks, they say to keep US interest rates down! Florida's Rep. Alan Grayson grills Bernanke on it:
http://www.youtube.com/watch?v=FUUSWz_Y_Ws
How about
Live or Die Free! Politicians just hasten the act. Idiots talk and patriots act!!
Screw him! It is tme for everything to come crashing down. Then maybe someone will shoot the communist/socialist/fascist bas#$$%%rds.
1976-1982 USMC, You can thank me for my service by voting for Dr. Ron Paul, President 2012