We going to hit the debt ceiling again in a few months.

[Madison320]

This should be entertaining. Our total debt is at 15.7 T and the debt ceiling is at 16.4 T. It looks like we could hit the ceiling before the election. My guess is that neither party wants to deal with this and will quickly and quietly pass a new limit if it's before the election.

If we hit the limit after the election and Obama gets re-elected then the republicans are sure to make a big deal out of it. It Romney wins I'm guessing that the republicans will quietly pass a new limit without much opposition from the democrats.

[A Son of Liberty]

David Stockman's thoughts:

http://www.theburningplatform.com/?p=34073

[oyarde]

This should be entertaining. Our total debt is at 15.7 T and the debt ceiling is at 16.4 T. It looks like we could hit the ceiling before the election. My guess is that neither party wants to deal with this and will quickly and quietly pass a new limit if it's before the election.

If we hit the limit after the election and Obama gets re-elected then the republicans are sure to make a big deal out of it. It Romney wins I'm guessing that the republicans will quietly pass a new limit without much opposition from the democrats. Yes , and what a shit sandwich , by 2017 , I will most likely be wiping my butt with 1 dollar bills.

[TheTexan]

Its cool deficits don't matter, and massive debt is a sign of a healthy economy

[fisharmor]

You know, back in 1998, amid the daily media barrage of Monica Lewinsky's dry cleaning habits, if you had said that I would look back on the Clinton era and find genuine value in his administration, I would probably have punched you.

But he truly was the last fiscal conservative to be anywhere near the office.

[tod evans]

You know, back in 1998, amid the daily media barrage of Monica Lewinsky's dry cleaning habits, if you had said that I would look back on the Clinton era and find genuine value in his administration, I would probably have punched you.

But he truly was the last fiscal conservative to be anywhere near the office.

But blowjobs took the headlines......

Now it's those durn terrorists.....

Where are the "too much government" headlines?

[Madison320]

Its cool deficits don't matter, and massive debt is a sign of a healthy economy

You gotta watch this video. It's hilarious in a warped sort of way.

http://www.youtube.com/watch?v=UjbPZAMked0

[Dutch]

If we hit the limit after the election and Obama gets re-elected then the republicans are sure to make a big deal out of it. If Romney wins I'm guessing that the republicans will quietly pass a new limit without much opposition from the democrats.

Ahem. There's more than 2 candidates for POTUS.

[Zippyjuan]

There are only a couple of ways to avoid hitting the debt ceiling. One is to get a balanced budget and not add any new debt. Not going to happen under current circumstances (if you did it via tax increases, you would have to double income taxes. If you do it just via cuts you have to get rid of every single item in the "discressionary spending" portion of the budget which includes all defense spending and every government department). The other way would be to get rid of the ceiling in the first place or make it what seems to be some rediculously high number (seems to be- today's deficit would have seemed rediculously high only ten years ago when it was less than half of what it is today). Typically the limit has been raised at least once a year.
http://en.wikipedia.org/wiki/File:US_Public_Debt_Ceiling_1981-2010.png
http://upload.wikimedia.org/wikipedia/commons/thumb/e/ed/US_Public_Debt_Ceiling_1981-2010.png/800px-US_Public_Debt_Ceiling_1981-2010.png

[Bosco Warden]

But blowjobs took the headlines......

Now it's those durn terrorists.....

Where are the "too much government" headlines?

Yeah and those durn terrorist's are now anarchists morphing again into who knows what.

[DamianTV]

I got a pretty easy solution to the debt.

STIFF THE FED.

We will still have to deal with the consequences of an Inflated Money Supply however, that problem will remain until we replace our Fiat Currency with an Honest Money System.