Geithner asks Congress for higher U.S. debt limit
Submitted by ch4d on Wed, 08/12/2009 - 18:20
WASHINGTON (Reuters) - U.S. Treasury Secretary Timothy Geithner formally requested that Congress raise the $12.1 trillion statutory debt limit on Friday, saying that it could be breached as early as mid-October.
"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," Geithner said in a letter to Senate Majority Leader Harry Reid that was obtained by Reuters.
Read full article below:
http://www.reuters.com/article/newsOne/idUSTRE57706N20090808
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bump "generally the
bump
"generally the Constitution is a charter of negative liberties"
~ Barack Obama 2001
www.cuttingthroughthematrix.com
"One man with courage is a majority." ~ Andrew Jackson
Count Geithner...
will shake us down for every penny we have. Then he will suckthe iar from our lungs. Just before we gasp our last breath he will suck the very blood from our veins. Allof this to keepthe grand game going and to serve his masters.
Bastard.
Hmmm
"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," --- Is this Orwellian doublespeak? "Raise my debt limit so that I can prove that I can repay". Wow.
"Government spending cannot create additional jobs. If the government provides the funds required by taxing the citizens or by borrowing from the public, it abolishes on the one hand as many jobs as it creates on the other.", www.mises.org
"Endless money forms the sinews of war." - Cicero, www.freedomshift.blogspot.com
What happens if it isn't
What happens if it isn't raised and the debt grows beyond it? Does the Fed implode?
It will just bring about a
It will just bring about a faster collapse of the dollar, which is going to happen no matter what or bring about world war 3...or all of the above.
"generally the Constitution is a charter of negative liberties"
~ Barack Obama 2001
www.cuttingthroughthematrix.com
"One man with courage is a majority." ~ Andrew Jackson
Does anybody know
how much Geithner wants to rase the debt limit?
I posted this yesterday
not many comments here...
" I am only one,but still I am one.I cannot do everything,but still I can do something; and because I cannot do everything I will not refuse to do the something that I can do."
-- Edward Everett Hale
Website:
http://www.libertypoet.com/
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"How can we justify to the unemployed and underemployed in the United States the incredible cost of maintaining a global empire?" - Dr. Ron Paul