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Debate Over Raising Debt Limit Begins In Congress: Live Webcast Available Now
The Congressional debate over raising the debt ceiling by a ludicrous $1.9 trillion is now in session, with a vote expected at 2 pm. As a reminder, the Senate already passed this proposal last week. The debt "ceiling" raise by Congress seems like a done deal, but Congress will likely propose a statutory PayGo proposal to go along with the debt ceiling rise. Watch it live here on C-Span.
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vote yes on dollar debasement guarnteed....meanwhile Gold getting its guts ripped out....how I yearn for Pandora
The undead spending the unborn's money.
What happens if they don't raise the ceiling? I'm not saying this time, but in 3 months when they will be coming back to Uncle Sugar. Has Congress ever refused to raise it?
It's like watching a surreal tennis match. The ball goes back and forth, ad nauseum, but a point is never recorded.
to me it's more like the show "Cops" with the US as drunk driver slaloming in the wrong direction on a highway and causing as much damage to whatever comes in its way until its finally and inevitably stopped and held at gunpoint.
You're looking at the macro view and probable outcome. I'm just talking about the kabuki play on the floor now. To your point, however, the cops should just put the driver out of his misery.
Meanwhile, someone is frantically behind the scenes placing any and all roadblocks and spike strips in the way of Senator Scott Brown's motorcade.
JR to Congress:
Shut up and go home.
tonight US and Japan will be killed on the CDS front...look at California CDS and then someone have to tell me what currency it will keep...
I prefer to have South African rands in hand...
Theatre of the Absurd.
What part of "inevitable" don't these people understand?
In conclusion, I say that the deck-chairs are perfectly arranged and yield the remainder of my time to the gentleman from the Twilight Zone...
This was the sort of moment in the HoR that was tailor-made for Ken Trafficant.
All that's missing from this is a "Beam me up, Scotty" moment from the once (and possibly future) CongressCritter from Youngstown OH.
Will these raises require a supermajority or a mere majority of votes?
All of this assumes that somebody not only has the desire to repurchase their existing Treasuries upon maturity, but both has the desire and ability purchase 20% more. It's just not maintainable.
So says Yohane
Let real estate trade on its fundamentals...I dare you....
Obama’s $6.3 Trillion Scam Is America’s Shame: Jonathan Weil
Yet without all the trillions of dollars of subsidies the government has pumped into housing, home prices would get creamed even worse than they already have, spurring greater loan defaults and saddling the Treasury with ever-higher costs from the guarantees Fannie and Freddie sold. What’s sickening is that the government can’t afford the subsidies. Suddenly, that $8,000 tax credit for first-time homebuyers looks like a nasty teaser aimed at sucking America’s newlyweds into a giant Ponzi scheme.
Worst of all is the example the government is setting for its citizenry. There still have been no indictments of senior executives at any of the big financial institutions that cratered in 2008 while sporting pristine balance sheets. No wonder. The government lacks moral standing to prosecute crimes such as accounting fraud when its own books lack integrity.
And how does Orszag explain his about-face on including the government-sponsored enterprises in the federal budget? Here’s the response I got in an e-mail from Kenneth Baer, a spokesman for the White House Office of Management and Budget: “The relationship between the GSEs and the federal government is in flux. Until it is settled, it would be too disruptive to change how they are accounted for in the budget.”
That didn’t answer my question. (Are we supposed to believe the relationship wasn’t “in flux” in September 2008 after Fannie and Freddie got seized?) So I asked again. Baer replied: “Our statement is our statement.”
It speaks volumes, too, confirming what we otherwise could only surmise: They don’t have a good explanation.
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=a.G6KFfaDdSc
Oh I imagine they have an explanation, they just don't want to give it. "Our statement is our statement" translates into "Fuck you, we'll do what we please."
And Obama says it when he smiles...true politician...change?...change you can buy...
Barack Obama: Listen To What The People Want
Look around you at some of the people you have surrounded yourself with. Some don't have either your best interest in mind nor the interest of the American people. There are many people well qualified to surround yourself with that have no ties to the old establishment. Mr. President, close the revolving door.
Mr. President, there are things you can do now. You have the power and the power of executive order. Use your power for the good of the people.
http://barackobama666com.blogspot.com/2010/02/barack-obama-listen-to-wha...