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View Full Version : Ron Paul: Raising the debt ceiling means 'status quo has prevailed'



sailingaway
05-24-2011, 07:15 AM
http://thehill.com/blogs/floor-action/house/162671-ron-paul-raising-the-debt-ceiling-means-status-quo-has-prevailed
UtahApocalypse
05-24-2011, 07:53 AM
Did'nt we already pass the debt ciling several days ago?? Seems like the world is still going on..... as well as the spending.
ghengis86
05-24-2011, 07:58 AM
Did'nt we already pass the debt ciling several days ago?? Seems like the world is still going on..... as well as the spending.

Yes. Turbo Timmy is suspending payments to certain federal (pension?) funds and using that cash to make treasury debt obligation payments. Robbing insolvent Peter to pay Paul. Sort of like what they did with SS.

It's all a money laundering, paper printing, digit generating Ponzi. That's all you really need to know.
specsaregood
05-24-2011, 08:24 AM
Yes. Turbo Timmy is suspending payments to certain federal (pension?) funds and using that cash to make treasury debt obligation payments.

I don't know about you, but I kinda like that solution, let's keep doing that for awhile.
wizardwatson
05-24-2011, 08:33 AM
"We have heard endless warnings about how irresponsible it would be to 'shut down the government,' " he said. "The implication is that sober, rational, mature pundits and politicians understand reality, while those who oppose raising the debt-ceiling limit are reckless ideologues who will harm the economy just to make a point."

This is why I love Ron Paul. He hits the target dead on.
wizardwatson
05-24-2011, 08:34 AM
Did'nt we already pass the debt ciling several days ago?? Seems like the world is still going on..... as well as the spending.

Not yet, from article:


Congress is expected to deal with the debt ceiling in some way by late July, as the Obama administration has said it can continue to manage the government's finances until mid-August without an increase in the debt limit

EDIT: Actually you're right, we did reach the limit but Treasury says they can fudge it until mid-August.
ghengis86
05-24-2011, 09:09 AM
Not yet, from article:

EDIT: Actually you're right, we did reach the limit but Treasury says fuck it until mid-August.

Fixed it for ya