Post by GringoBob on Apr 4, 2011 6:25:23 GMT -5
Must We Raise the National Debt Ceiling? - by Chip Wood
Congress may soon once again raise the national debt ceiling - for the 81st time since 1940! The ceiling limits how deeply in debt the federal government can go. Right now, Washington is not allowed to borrow a dollar over $14.29 trillion. And they’re already within $300 billion of that limit, give or take a few billion bucks.
To hear our officials tell it, if Congress doesn’t vote to let the Treasury borrow more billions, and do it now, the U.S. will face the biggest calamity since women started wearing slacks.
I’ll have more to say about our Treasury Secretary’s blustering baloney in a moment. As everyone knows who’s been paying attention, Timothy Geithner is one of the biggest lying liars to ever hold high office, to use Sen. Al Franken’s inimitable phrase. He is without a doubt one of the slickest, smoothest-talking apologists for massive, irresponsible government spending I’ve heard, second only to his boss.
more here - > www.next2cents.com/04apr11-1.php
GringoBob
Congress may soon once again raise the national debt ceiling - for the 81st time since 1940! The ceiling limits how deeply in debt the federal government can go. Right now, Washington is not allowed to borrow a dollar over $14.29 trillion. And they’re already within $300 billion of that limit, give or take a few billion bucks.
To hear our officials tell it, if Congress doesn’t vote to let the Treasury borrow more billions, and do it now, the U.S. will face the biggest calamity since women started wearing slacks.
I’ll have more to say about our Treasury Secretary’s blustering baloney in a moment. As everyone knows who’s been paying attention, Timothy Geithner is one of the biggest lying liars to ever hold high office, to use Sen. Al Franken’s inimitable phrase. He is without a doubt one of the slickest, smoothest-talking apologists for massive, irresponsible government spending I’ve heard, second only to his boss.
more here - > www.next2cents.com/04apr11-1.php
GringoBob