Treasury Secretary Geithner: Lift Debt Limit to Infinity
"They've got themselves a new spin on the story, twisted for one-sided glory. Devastation soon becoming fuel for the masses new fury. A greedy hand in the guise of a good man. So threatening. So deafening. So silencing, that familiar stance. The burden now passed to us, we lose our footing but still try to stand." Verse- The New Fury
Treasury Secretary Geithner: Lift Debt Limit to Infinity
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(CNSNews.com) - Treasury Secretary Timothy Geithner said Friday that Congress should stop placing legal limits on the amount of money the government can borrow and effectively lift the debt limit to infinity.
On Bloomberg TV, “Political Capital” host Al Hunt asked Geithner if he believes “we ought to just eliminate the debt ceiling.”
“Oh, absolutely,” Geithner said.
“You do? Will you propose that?” Hunt asked.
“Well, this is something only Congress can solve,” Geithner said. “Congress put it on itself. We've had 100 years of experience with it, and I think only once--last summer--did people decide to use it to threaten default on the American credit for the first time in history as a tool for political advantage. And that’s not a tenable strategy.”
Hunt then asked: “Is now the time to eliminate it?”
“It would have been time a long time ago to eliminate it,” Geithner said. “The sooner the better.”
Geithner’s Treasury Department quietly warned at the end of October that the Treasury would reach current legal limit on the federal government's debt by about the end of the year.
In August 2011, President Barack Obama and Congress agreed to lift the legal debt limit by another $2.4 trillion--allowing the government to borrow up to $16.394 trillion. However, as of the close of business on Thursday, the Treasury had only $154.3 billion of that $2.4 trillion in new borrowing authority left.
Senate Majority Leader Harry Reid (D-Nev.) said last week that the Senate stands ready to increase the debt limit by another $2.4 trillion. “If it has to be raised, we’ll raise it,” Reid said.
http://cnsnews.com/news/article/trea...limit-infinity
$ MONEYBOMB $ ::: BEARING 3D PRINTED ARMS ::: $ MONEYBOMB $
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"the cat is out of the bag and that cat can be armed with guns made with printed parts"
Beat me to it. I'm sure mine will be here shortly.
$ MONEYBOMB $ ::: BEARING 3D PRINTED ARMS ::: $ MONEYBOMB $
http://www.ronpaulforums.com/showthr...D-PRINTED-ARMS
"the cat is out of the bag and that cat can be armed with guns made with printed parts"
This country is now officially insane.
$ MONEYBOMB $ ::: BEARING 3D PRINTED ARMS ::: $ MONEYBOMB $
http://www.ronpaulforums.com/showthr...D-PRINTED-ARMS
"the cat is out of the bag and that cat can be armed with guns made with printed parts"
Then why collect taxes of any kind?
how about we just have the fed reserve increase the money supply by a billion dollars a day, and they just give that newly created money to the treasury so the president can just spend it directly. you know, since earmarks are bad and endless debt is good.
"The easy confidence with which I know another man's religion is folly teaches me to suspect that my own is also." ~ Mark Twain.Originally Posted by reduen
I saw that the State was half-witted, that it was timid as a lone woman with her silver spoons, and that it did not know its friends from its foes, and I lost all remaining respect for it, and pitied it."
--Henry David Thoreau
Really, dam that Ron Paul and all his earmarks......
$ MONEYBOMB $ ::: BEARING 3D PRINTED ARMS ::: $ MONEYBOMB $
http://www.ronpaulforums.com/showthr...D-PRINTED-ARMS
"the cat is out of the bag and that cat can be armed with guns made with printed parts"
I don't believe for a second that if the congress refused to raise the debt ceiling that it would make 1 damn bit of difference in spending. Obama would just order it done, and it would be done.
I agree, the whole debt limit is an illusion. Congress as a legislative branch with enumerated powers is an illusion.
the psychopathic authoritarians have two jobs, one is to act and play a role in a narrative as to appear to the public through the media as being legit.
the other is to rob the people of as much money as possible for their personal gain.
"The easy confidence with which I know another man's religion is folly teaches me to suspect that my own is also." ~ Mark Twain.I saw that the State was half-witted, that it was timid as a lone woman with her silver spoons, and that it did not know its friends from its foes, and I lost all remaining respect for it, and pitied it."
--Henry David Thoreau
They could at least try.........
$ MONEYBOMB $ ::: BEARING 3D PRINTED ARMS ::: $ MONEYBOMB $
http://www.ronpaulforums.com/showthr...D-PRINTED-ARMS
"the cat is out of the bag and that cat can be armed with guns made with printed parts"
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