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Thread: Treasury Secretary Geithner: Lift Debt Limit to Infinity

  1. #1

    Default 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



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  3. #2

    Default Treasury Secretary Geithner: Lift Debt Limit to Infinity

    Video at link

    (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
    Quote Originally Posted by Anti Federalist View Post
    Fuck sakes, if you shoved a lump of coal up AmeriKa's collective ass, it would shit out a diamond.
    Quote Originally Posted by RonZeplin View Post

    The Canadian Israeli community organizer Texas guest worker/dream student, Senator.

  4. #3

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    Beat me to it. I'm sure mine will be here shortly.
    Quote Originally Posted by Anti Federalist View Post
    Fuck sakes, if you shoved a lump of coal up AmeriKa's collective ass, it would shit out a diamond.
    Quote Originally Posted by RonZeplin View Post

    The Canadian Israeli community organizer Texas guest worker/dream student, Senator.

  5. #4

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    This country is now officially insane.
    Quote Originally Posted by Anti Federalist View Post
    Fuck sakes, if you shoved a lump of coal up AmeriKa's collective ass, it would shit out a diamond.
    Quote Originally Posted by RonZeplin View Post

    The Canadian Israeli community organizer Texas guest worker/dream student, Senator.

  6. #5

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    Then why collect taxes of any kind?

  7. #6

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    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.

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  8. #7

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    Quote Originally Posted by torchbearer View Post
    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.
    Really, dam that Ron Paul and all his earmarks......
    Quote Originally Posted by Anti Federalist View Post
    Fuck sakes, if you shoved a lump of coal up AmeriKa's collective ass, it would shit out a diamond.
    Quote Originally Posted by RonZeplin View Post

    The Canadian Israeli community organizer Texas guest worker/dream student, Senator.

  9. #8

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    Quote Originally Posted by torchbearer View Post
    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.
    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.
    Quote Originally Posted by Edward Snowden;
    So its, I would say; illustrative that the president would choose to say, "someone should face the music" when he knows the music is a show trial.

  10. #9

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    Quote Originally Posted by specsaregood View Post
    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.

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  11. #10

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    Quote Originally Posted by specsaregood View Post
    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.
    They could at least try.........
    Quote Originally Posted by Anti Federalist View Post
    Fuck sakes, if you shoved a lump of coal up AmeriKa's collective ass, it would shit out a diamond.
    Quote Originally Posted by RonZeplin View Post

    The Canadian Israeli community organizer Texas guest worker/dream student, Senator.

  12. #11

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    Quote Originally Posted by Origanalist View Post
    They could at least try.........
    yes, well that would at least be entertaining for awhile. imagine the hand wringing.

    Quote Originally Posted by Edward Snowden;
    So its, I would say; illustrative that the president would choose to say, "someone should face the music" when he knows the music is a show trial.

  13. #12

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    Quote Originally Posted by specsaregood View Post
    yes, well that would at least be entertaining for awhile. imagine the hand wringing.

    I don't have to, having witnessed it so many times. Ackkk (coughs up hairball)
    Quote Originally Posted by Anti Federalist View Post
    Fuck sakes, if you shoved a lump of coal up AmeriKa's collective ass, it would shit out a diamond.
    Quote Originally Posted by RonZeplin View Post

    The Canadian Israeli community organizer Texas guest worker/dream student, Senator.

  14. #13

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    Why am I thinking of this?

    "And now that the legislators and do-gooders have so futilely inflicted so many systems upon society, may they finally end where they should have begun: May they reject all systems, and try liberty; for liberty is an acknowledgment of faith in God and His works." - Bastiat

    "It is difficult to free fools from the chains they revere." - Voltaire

  15. #14

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    “Well, this is something only Congress can solve,” Geithner said.

    You bet your ass it is. They do it by repealing the Fed Reserve Act. Simple. Also, when the ceiling is removed may we for ONCE and all stop calling it a f^%king ceiling?! Before it was the ceiling of an elevator and now it'll be that of a damn rocket ship.

  16. #15

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    Quote Originally Posted by ghengis86 View Post
    Then why collect taxes of any kind?
    Good question, infinite QE, infinite debt ceiling, who needs taxes anyway? Just borrow and print.

  17. #16
    "And now that the legislators and do-gooders have so futilely inflicted so many systems upon society, may they finally end where they should have begun: May they reject all systems, and try liberty; for liberty is an acknowledgment of faith in God and His works." - Bastiat

    "It is difficult to free fools from the chains they revere." - Voltaire

  18. #17

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    Quote Originally Posted by CaptUSA View Post
    Sometimes it takes them a while, but they probably will.
    Quote Originally Posted by Anti Federalist View Post
    Fuck sakes, if you shoved a lump of coal up AmeriKa's collective ass, it would shit out a diamond.
    Quote Originally Posted by RonZeplin View Post

    The Canadian Israeli community organizer Texas guest worker/dream student, Senator.

  19. #18

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    Quote Originally Posted by matt0611 View Post
    Good question, infinite QE, infinite debt ceiling, who needs taxes anyway? Just borrow and print.
    Might even help the economy with everybody having more money to spend.

  20. #19

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    That would be great. No need to care about the dollar!! Free money for everyone!!! I think I need a green suit like that guy had for his "free money" infomercials

  21. #20
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    Default

    And why bother billing the patients? Health care is free now. Just tell the drs. to charge it to the fed. They'll pay it, I'm sure.

  22. #21

  23. #22

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    "To Infinity and Beyond!"

    "HA!! You think that's going to make things better?!!"



    (anyone want to put Geitner and Paul's faces in that pic?)
    "And now that the legislators and do-gooders have so futilely inflicted so many systems upon society, may they finally end where they should have begun: May they reject all systems, and try liberty; for liberty is an acknowledgment of faith in God and His works." - Bastiat

    "It is difficult to free fools from the chains they revere." - Voltaire

  24. #23

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    Quote Originally Posted by ghengis86 View Post
    Then why collect taxes of any kind?
    sums it up nicely.
    "Liberty lies in the hearts of men and women; when it dies there, no constitution, no law, no court can save it; no constitution, no law, no court can even do much to help it."
    James Madison

    "It does not take a majority to prevail ... but rather an irate, tireless minority, keen on setting brushfires of freedom in the minds of men." - Samuel Adams



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