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When Is A Ceiling Not A Ceiling?
When, as Jim Quinn exclaims, corrupt politicians do as they are told by their keepers on Wall Street and in the boardrooms of S&P 500 mega-corps...
House Republican leaders were slated to propose a bill this week linking a debt ceiling increase to conservative issues. Under the new proposal, the debt ceiling would be increased from $18.1 trillion to $19.6 trillion, and would likely extend through 2018.
However, new reports out of Washington suggest that internal support for the bill from Republican lawmakers is divided, and it is unlikely to go to the floor. Where things go from here are unclear. If it gets down to the wire, Republicans willing to play ball may have to seek Democrat support, but this would likely void any concessions to spending as originally proposed.
Congress is likely on the brink of another deadlock, similar to 2011 or 2013, in which debate will rage on even past the Treasury’s deadline of November 3. The end result is obvious: the limit will be increased. However, in the meantime, there is likely to be no shortage of brinkmanship as both parties do their song and dance.
The chart above shows the parabolic increase to the statutory debt limit from 1970 until today. The chart also includes the potential $19.6 trillion ceiling as described in the most recent proposal, as well as the lawmakers in control during each time period.
What is clear from this data is that over the past, the debt limit will increase no matter who is in control. While there may be minor differences, the ceiling as well as federal debt have reached unprecedented levels as a result of both parties. That is why the United States now has 29% of total sovereign debt and also the2nd highest national debt when measured in terms of debt-to-revenue.
If a compromise isn’t reached, at some point the United States government would become unable to make payments on spending it has already committed to. The result would be a default on its debt obligations.
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The real question is. Who has the balls to change the trend?
It can't be changed.
It's the reserve currency curse.
It will not end until fiat money is gone.
With everything American wanning, so should the budget. If now is not the time to change our debtful ways, when is? If this is the only thing the next leader accomplished, that would be fine with me. We cannot pretend and continue to prop this failed system up.......but we will likely try.
Since the "budget" is really OPM, why not let the American people vote on it; hold a referendum and let the people decide if it should be raised. After all, it's thier money Congress is spending. We already know elections don't work; there's only a handful of reps in Congress who actually represent the people. All the others represent powerful Wall Street corporations and special interests.
Whether you like it or not, the Debt Ceiling will ALWAYS be raised. Here's why:
https://www.youtube.com/watch?v=iFDe5kUUyT0
[Start watching around 12:25]
Definition of a Republican: 90% of a Democrat.
The solution is simple- call it something different. It's not a ceiling anyway. It's a DEBT TARGET!!! See? See how that changes everything!! It's not now something we have failed at, it is something we have succeeded at!! 100% of the time!! USA! USA! We are #1!!!!
2 political crime syndicates acting in the best interests of the corporatocracy that owns their asses lock stock and barrel, with the sock puppet media legitimizing the entire con
Debt up soc sec zero
Winning
BLAME BUSH!
I MEAN BLAME OBAMA!
WAIT NO BLAME CLINTON!
WAIT, NO, THE OTHER BUSH!
But never blame the system.
Never, because that would mean there is something wrong with the perception of reality. That would mean that the system is flawed, and shit, if the system is flawed, well then we've been living a lie.
And we can't be living a lie. Right?
Right?
Blame the ceiling.
BRILLIANT!
https://www.youtube.com/watch?v=NBh895KdXAU
It just dawned one me, the debt ceiling is never going to stop soaring. It's all a charade... just like the possibility of the Fed hiking in December or early next year. That's never going to happen either. So can anyone tell me how much longer JPM is going to be able to suppress the gold and silver markets? Not that I really care because the shares that I bought in rock solid gold and silver mining companies for 5 cents on the dollar will answer that question soon enough. Most likely sooner rather than later. When it comes to the collapse, I'd rather be 6 months too early than a day late.
If a compromise isn’t reached, at some point the United States government would become unable to make payments on spending it has already committed to.
That "point" is somewhere in the second week of November - two weeks from now.
Whether you're right or left this is no way to run a freaking country.
The government can always just print the money.
Here we seem to forget that possibility, since then everyone would realize the USA was out of money.
The government can always just print the money.
Here we seem to forget that possibility, since then everyone would realize the USA was out of money.
Their keepers are laregly rich individuals, not corporations, and more than half of those give to liberal causes, not conservative. Although it's only a little more than half.
They don't call it a debt based monetary system for nothing...
This stuff is confusing me. Yesterday they were saying it was a debased monetary system.
Myself? I'm thinking more along the lines of calling it a debauched monetary system.
They can borrow money at negative real interest rates, and pay it back later in debased currency.
Why not borrow, and borrow large?
Look at the chart. That is what compounding looks like. Debt ceilings are a laugh, they can't cap debt without blowing up the system and they can't keep increasing the debt without blowing up the system. But increasing the debt exponentially gives them more time to exploit the system. When it goes straight up, the end is not far off.
Everyone on here who says the debt ceiling will be raised forever and we can print money forever have one question to answer in my mind:
"Why not also give the little guy a taste?". If debt ceilings and money grow on trees, why only let the elite few have access to the apples and other fruit? Since it ultimately makes no difference in the minds of these posters?
The notion that a debt ceiling even exists is one of the top five frauds perpetrated by government on the American people. Thankfully, some Americans are starting to recognize that they have been duped by the charade which has been pitched to them by their government for many years.
So, what are the political elite going to do if the majority of people eventually realize that these debt ceiling negotiations are nothing more than staged dramas to help congressmen justify their existence. Unfortunately the elite don't worry about that much, because the majority of people still don’t realize those congressmen are laughing at them behind their backs and correctly assuming they’re never going to realize it.
Who are the Republicans and Democrats kidding? It's all a circus and the debt ceiling will be closer to 25 trillion by the time 2018 rolls around...