Debt limit extension bill passes House

Comments (28)
Harry079 wrote:

“The U.S. Treasury is expected to exhaust all remaining capacity under the $16.4 trillion debt limit sometime between mid-February and early March.”

The U.S. Treasury exhausted that capasity January 1st. They have since been doing magic tricks and right out legal thievery to keep the money flowing to pay the bills.

Jan 23, 2013 12:37pm EST  --  Report as abuse
Harry079 wrote:

Whoopie unlimited spending until April!

Jan 23, 2013 1:25pm EST  --  Report as abuse
Doc62 wrote:

They should lock all the house members in jail with NO pay and No contact with lobbists. Food & water only(no spas, gourmet food or massages). When they finally agree, we let them out.

Jan 23, 2013 1:36pm EST  --  Report as abuse
randburg100 wrote:

“The U.S. Treasury is expected to exhaust all remaining capacity under the $16.4 trillion debt limit sometime between mid-February and early March.”

err do they not realise that they have breached the “limit” of $16.394 TRILLION by $50.6 BILLION & they are racking up debt at the rate of $1m per minute.

Can someone in the US please refer your numpty Treasury Dept to the US debt clock org site????

Jan 23, 2013 2:00pm EST  --  Report as abuse
Harry079 wrote:

Randburg,

The Treasury, the Fed, the President, the Congress and most in the Media ALL KNOW exactly what is going on.

The would just prefer that we didn’t know.

Jan 23, 2013 2:37pm EST  --  Report as abuse
PPhermit wrote:

Doc62 Thats exactly what the republican in Coingress is wanting “No Budget No Pay” That sounds great and may be helpful in 2014 in the election
BUT__ that could give the Congess a dictatorship power
They could pass their budget plan after they gut Security, medicare, and every thing that benefits the elderly and poor whilegiving morebenefits to the corporations. So they would get paid and when it goes to the Senate and if they would defeat it the senate wouldn’t get paid__ But the fools forget that in 2014 when Congress turns Democrat and could have a republican president the shoe would be on the other foot. Sounds like almost all Republicans doesn’t have sense to look in the future

Jan 23, 2013 3:11pm EST  --  Report as abuse
xyz2055 wrote:

They passed around the ceremonial roll of toilet paper to tidy up right after the vote. Legislation originates from that particular orifice these days.

Jan 23, 2013 3:16pm EST  --  Report as abuse
xyz2055 wrote:

“But House Speaker John Boehner warned immediately after Wednesday’s vote that Republicans would take the next opportunity – automatic budget cuts set for March – to demand “reforms” from Obama.”

Excuse me Mr. Speaker..but legislation, neither spending nor cuts comes from the President (read the Constitution). Congress is responsible for these things. Path to Prosperity is a travesty..you bozos haven’t proposed anything of any merit in over two years. You want to impress me…put $350M in Defense spending on the table. We would still spend 7 times more than China and that would be 1/3 of the deficit.

Jan 23, 2013 3:22pm EST  --  Report as abuse
Let_me_Opine wrote:

If we all just remember this at election time we can stop this from happening again.

All incumbents out.

Jan 23, 2013 3:26pm EST  --  Report as abuse
xyz2055 wrote:

Wake me when we actually cut spending on something………..

Jan 23, 2013 3:27pm EST  --  Report as abuse
Overcast451 wrote:

I wish I had a credit card I could just keep bumping the limit up on; for infinity…

Jan 23, 2013 3:35pm EST  --  Report as abuse
ssg13565 wrote:

Doing away with the debt limit does not change the way money
is spent. The budget is set by Congress and spent accordingly
by the executive branch. What spending has gone on and will
go on is still at the direction of the budget that the Congress
has passed.

The very fact that doing away with the debt ceiling changes
nothing as far as what the government plans to spend and
will spend, just demonstrates how silly it is to even have
a debt ceiling.

What kind of a way is it to run a country for Congress to tell
the executive branch, here is the budget and tax rates that
specifies what you will spend and what you will collect. Now
go out and make whatever binding contracts that are necessary
to carry this out. Oh, by the way, when you reach the projected
debt level, we actually have to take another vote to see if we
should have authorized you to spend this in the first place.

Jan 23, 2013 3:42pm EST  --  Report as abuse
TheNewWorld wrote:

“The vote in the Republican-controlled House was 285-144, with no votes coming from 33 Republicans and 111 Democrats.”

Why would the Democrats oppose this? Their President and Senate Majority leader is demanding it.

Jan 23, 2013 3:56pm EST  --  Report as abuse
TheNewWorld wrote:

@Overcast451

“I wish I had a credit card I could just keep bumping the limit up on; for infinity…”

On top of that the government has the Printing press that issues the currency that all of the debt is taken out in. Why we still have a AA credit rating is beyond me. We are running a huge scam.

Jan 23, 2013 3:59pm EST  --  Report as abuse
Harry079 wrote:

“is still at the direction of the budget that the Congress
has passed.”

What budget did Congress pass for 2013, 2012, 2011?

You must mean Continuing Resolutions where they just pick numbers out of the air.

Jan 23, 2013 4:06pm EST  --  Report as abuse
Hick wrote:

Countries with a 16.4 trillion debt do not deserve to exist.This nation needs to be sold at an auction to investors and its dollar not legally allowed to control world business.

Jan 23, 2013 4:09pm EST  --  Report as abuse
CConservative wrote:

This is like extending the credit limit on your credit card so that you can pay the bills and pay towards another credit card. This is poor stewardship of U.S. finances. Who keeps re-electing those losers back in office? Throw the bums out.

Jan 23, 2013 4:09pm EST  --  Report as abuse
EBGuy wrote:

Close your foreign military bases. Problem solved.

Jan 23, 2013 4:11pm EST  --  Report as abuse
NedLud wrote:

For our debt to have gotten this big, we have been so skrewed by our political class. The richest nation in the history of the world should not be paying a 10% cut to lenders decade after decade. Congress is criminally negligent.

Jan 23, 2013 4:17pm EST  --  Report as abuse

@NewWorld- Why don’t you try reading the article instead of scanning it. It says why 111 Dems voted ‘nay’.

Jan 23, 2013 4:21pm EST  --  Report as abuse
Harry079 wrote:

“On top of that the government has the Printing press that issues the currency that all of the debt is taken out in.”

I do not think that is true. I read somewhere once that only about 10-15% of what they call money is in actual paper currency.

Jan 23, 2013 4:23pm EST  --  Report as abuse
mikemm wrote:

This may be the new and changing face of the Republican party. They may still talk tough to their base and rattle their sabres during election cycles, but they don’t have the demographis on their side, so they need to not do anything to appear to be obstructionists and soften their image to the voters that they didn’t get in the Presidential election. The majority of voters want a Congress that works together and not one that refuses to comprimise with the opposing side. This bill is an obvious first step in that direction and to stop losing more seats in the next few interim elections.

Survival is a strong instinct and if the GOP wants to survive long term it will have to adapt. That may take a few election cycles, though, and keeping their extreme right base on board while they move towards center to pull in young and non-white voters who are conservative fiscally but not on the social issues is going to be a tough thing to pull off.

The current GOP is nothing like the party of Reagan or Lincoln or several other time periods, so the party in the next decade will probably look nothing like the one today. Whether the extreme right wing minority decides to sit at the same table under a more moderate party or split off and form their own is anybody’s guess.

Jan 23, 2013 4:36pm EST  --  Report as abuse
TheNewWorld wrote:

@ZenGalacticore

I was being rhetorical.

Jan 23, 2013 6:02pm EST  --  Report as abuse
Harry079 wrote:

@EBGuy

“Close your foreign military bases. Problem solved”

Closing every foreign military base wouldn’t even cover the interest on the debt.

Jan 23, 2013 6:36pm EST  --  Report as abuse
xyz2055 wrote:

“Yipee we’re all going to die”…Country Joe and The Fish

Jan 23, 2013 6:51pm EST  --  Report as abuse
Harry079 wrote:

“One, Two, Three, what are we fighting for?”

Jan 23, 2013 7:36pm EST  --  Report as abuse
xyz2055 wrote:

Harry079…only old hippies know that song…lol (and I are one)!

Jan 24, 2013 1:14am EST  --  Report as abuse
BigIrv wrote:

I wonder how many of the representatives who did not vote are up for re-election next year.

Jan 24, 2013 2:15pm EST  --  Report as abuse
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