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Thread: $290 billion to finance its operations for just six additional weeks

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    Senior Member Sabireley's Avatar
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    Default $290 billion to finance its operations for just six additional weeks

    How about this one.

    The House has approved legislation giving the federal government the ability to borrow a whopping $290 billion to finance its operations for just six additional weeks.

    The vote sends the must-pass bill to the Senate, which is expected to approve it as its last act before adjourning for the year. The alternative would be a market-rattling, first-ever default on U.S. obligations.

    The measure is needed as a result of the out-of-control budget deficit, which registered $1.4 trillion for the budget year that ended in September. The current debt ceiling is $12.1 trillion.

    Democrats had hoped to pass a far larger increase of almost $2 trillion to avoid another vote before next year's midterm elections.

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    Senior Member road kill's Avatar
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    Quote Originally Posted by Sabireley View Post
    How about this one.

    The House has approved legislation giving the federal government the ability to borrow a whopping $290 billion to finance its operations for just six additional weeks.

    The vote sends the must-pass bill to the Senate, which is expected to approve it as its last act before adjourning for the year. The alternative would be a market-rattling, first-ever default on U.S. obligations.

    The measure is needed as a result of the out-of-control budget deficit, which registered $1.4 trillion for the budget year that ended in September. The current debt ceiling is $12.1 trillion.

    Democrats had hoped to pass a far larger increase of almost $2 trillion to avoid another vote before next year's midterm elections.
    Who are they borrowing it from??
    Do we intend to pay it back??

    How??


    Hoax and Chains regards!!

    rk
    Stan b & Elvis

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    Senior Member Goose's Avatar
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    Democrats and rino's have absolutely destroyed the hopes and dreams of all our children and grandchildren. Forget life, liberty and the pursuit of happiness. They have nothing to look forward except for a standard of living a tad better than North Korea's. And chains!!! Chains a mile long attaching these young people to the debt they've inherited from us.

    We live in Cuba now.

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    Senior Member dnf777's Avatar
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    Quote Originally Posted by Goose View Post
    Democrats and rino's have absolutely destroyed the hopes and dreams of all our children and grandchildren. Forget life, liberty and the pursuit of happiness. They have nothing to look forward except for a standard of living a tad better than North Korea's. And chains!!! Chains a mile long attaching these young people to the debt they've inherited from us.

    We live in Cuba now.
    How quickly we forget who incurred what debt! If you think any one party is solely responsible for our mess, you suffer from blind partisanship.

    I still live in America!
    God Bless PFC Jamie Harkness. The US Army's newest PFC, but still our neighbor's little girl!

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    Senior Member road kill's Avatar
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    Quote Originally Posted by dnf777 View Post
    How quickly we forget who incurred what debt! If you think any one party is solely responsible for our mess, you suffer from blind partisanship.

    I still live in America!
    I see, this loan for $290,000,000,000 is George Bushs fault!!

    Ha Ha Ha!!

    Hoax & Chains regards!!

    rk
    Stan b & Elvis

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    Senior Member Sabireley's Avatar
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    The debt has been building over decades. The $290B is just a stop gap until they vote to increase the debt ceiling to $14T (~$14,000,000,000,000). That is to just keep the US from defaulting on the debt obligation in the next six weeks. How did we get here?

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    Senior Member road kill's Avatar
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    Quote Originally Posted by Sabireley View Post
    The debt has been building over decades. The $290B is just a stop gap until they vote to increase the debt ceiling to $14T (~$14,000,000,000,000). That is to just keep the US from defaulting on the debt obligation in the next six weeks. How did we get here?
    Hmmmm,let's see.......by spending MORE than we HAVE??

    Just a guess.

    Oh, BTW, when was the last time we had a balanced budget and who ran congress when it happened??

    RP.....Yardley??

    Buehler....anyone??


    rk


    Hoax and Chains regards!!
    Stan b & Elvis

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    Senior Member luvmylabs23139's Avatar
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    Quote Originally Posted by dnf777 View Post
    How quickly we forget who incurred what debt! If you think any one party is solely responsible for our mess, you suffer from blind partisanship.

    I still live in America!
    BUt tons of new pork that BUMMA said he would not sign is adding to it. He will sign just like he did before and he added that porkulus bill.
    He is worse than all the others combined. But that is his mission. He wants to destroy our country as we know it at turn it into the land of the GIVE ME GIVE ME I've been offended so I get everything people.

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    Senior Member Goose's Avatar
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    And the arsonist responsible for printing all this additional Obama stash is Time magazine's Person of the Year. But I don't think B52 has the time to actually accept his award because he's real busy in the Fed's basement with his printing press and lots of green ink.

    Counterfeiting money is a full time job.

    We live in Cuba now.

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    Senior Member Sabireley's Avatar
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    National debt as a percentage of GDP by presidential term.

    http://en.wikipedia.org/wiki/Nationa...idential_terms


    Holders of the public debt graph. China holds less than I thought, only $800B

    http://upload.wikimedia.org/wikipedi...rities.svg.png

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