• Steve H. Hanke
    05/04/2016 - 08:00
    Authored by Steve H. Hanke of The Johns Hopkins University. Follow him on Twitter @Steve_Hanke. A few weeks ago, the Monetary Authority of Singapore (MAS) sprang a surprise. It announced that a...

Here We Go Again: US $25 Million Away From Debt Ceiling Breach

Tyler Durden's picture




 

It's simply amazing how quickly the US managed to hit its debt target, pardon, debt ceiling all over again...And now the Social Security Fund pillaging begins anew until Congress signs off on the latest interim debt ceiling increase.

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Thu, 01/05/2012 - 17:09 | 2036850 GOSPLAN HERO
GOSPLAN HERO's picture

Just print some funny money.

Thu, 01/05/2012 - 17:12 | 2036858 slaughterer
slaughterer's picture

Go team USA.  

Thu, 01/05/2012 - 17:25 | 2036950 hedgeless_horseman
hedgeless_horseman's picture

 

 

"The fact that we are here today to debate raising America’s debt limit is a sign of leadership failure. It is a sign that the U.S. Government can’t pay its own bills. It is a sign that we now depend on ongoing financial assistance from foreign countries to finance our Government’s reckless fiscal policies. … Increasing America’s debt weakens us domestically and internationally. Leadership means that ‘the buck stops here. Instead, Washington is shifting the burden of bad choices today onto the backs of our children and grandchildren. America has a debt problem and a failure of leadership. Americans deserve better."

 

-Barack Hussein Obama

Thu, 01/05/2012 - 17:25 | 2036960 J 457
J 457's picture

He'll re-use that same line this summer.

I was a believer, now I want a refund.

 

Thu, 01/05/2012 - 17:46 | 2037048 BaBaBouy
BaBaBouy's picture

WHO Taught Owe-Bummah To Read The Tele-Prompter So Well ???

 

I Wanna Finda Thata Guya...

Thu, 01/05/2012 - 17:49 | 2037083 bernorange
bernorange's picture

I saw this well made video satirizing the debt limit farce just this morning:

http://youtu.be/Li0no7O9zmE

 

Thu, 01/05/2012 - 17:59 | 2037132 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

They will be rehypothecating SS funds, and public pension funds, to keep the fiat debt ponz alive.  Think about if SHTF when these funds were on loan....

Aaand it's gone!

Thu, 01/05/2012 - 18:01 | 2037148 Temporalist
Temporalist's picture

You should make it clear that that quote above was Senator Obama.  I understand that it still was him but showing the difference illustrates what a lying hypocrite he really is.

Thu, 01/05/2012 - 18:03 | 2037154 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

All politicians lie.  What's the big deal?

Thu, 01/05/2012 - 18:15 | 2037195 Kayman
Kayman's picture

That all politicians lie is a big deal.

Thu, 01/05/2012 - 18:28 | 2037249 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

But we know that, so it shouldn't be a big deal.  Known knowns, you know?

Thu, 01/05/2012 - 18:41 | 2037294 Victorio
Victorio's picture

Dude, just because it's a known known doesn't mean it's not a big deal.  Incremental corruption and desensitization is a bitch... Wake the fuck up!

Thu, 01/05/2012 - 18:43 | 2037301 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

So you expect them to tell the truth?  Is that what you expect?  You expect Obama to be truthful?  He is a politician.  They lie!  That is their profession....they are paid to lie.

Thu, 01/05/2012 - 19:32 | 2037437 Victorio
Victorio's picture

No, not at all... 

Yes, lying has become their profession...

And yes, it is a big fucking deal...

Thu, 01/05/2012 - 19:43 | 2037463 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

No, the big deal is what we are going to do about it.  Let them lie and act surprised?  That is what we should do?  Or should we put down the kid gloves and take action and stop caring about what they say?

Thu, 01/05/2012 - 19:44 | 2037472 Victorio
Victorio's picture

Now yer talkin....

Thu, 01/05/2012 - 21:46 | 2037727 The Big Ching-aso
The Big Ching-aso's picture

 

 

"Debt ceiling made of vapor soon evaporate into bottomless well of debt".

Neoconfucius

Thu, 01/05/2012 - 23:58 | 2038020 YBNguy
YBNguy's picture

For what shall it profit a man, if he shall gain the whole world, and lose his own soul?

Fri, 01/06/2012 - 04:41 | 2038462 AldousHuxley
AldousHuxley's picture

psychopaths have souls?

 

proof that man evolved from monkeys: survival and dominance > heart and soul

 

US will get more debt....war is always financed by debt.

 

If Iranian economic sanctions "diplomacy" doesn't work out, we will have war. short TUR. While China is winning an ally in the middle east. Dumbass US corporations who sold out America for short term profits. Be prepared for Chinese rule.

 

 

 

Fri, 01/06/2012 - 00:47 | 2038099 Oh regional Indian
Oh regional Indian's picture

Funny stuff big Ching Ching.

Kind of like Mitt Romney's winning by.... 6 votes? Or 150, whatever.

A nation that simply guzzles this kind of money every second, burning it up on some far-away mil. occupation. 

But patterns are repeating faster and faster. If the whole hand-wringing drama is to begin again, watch for an August 2011 like down spike, overall.

ori

/a-slice-of-life-in-picts/

 

Thu, 01/05/2012 - 18:46 | 2037311 ForTheWorld
ForTheWorld's picture

That makes no sense at all. With that logic, because we know there's a war in the Middle East, and a lot of sabre-rattling is being done by all parties involved with the Iran debacle, it's no big deal?

Thu, 01/05/2012 - 19:09 | 2037386 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

I am not saying someone should not be proactive.  I am saying that you should not be surprised.  Look.....

Oh my god did you guys know that we might go to war with Iran and troops are being deployed to Israel?  Oh my god!  Who would have thought?!

You are surprised we are warmongering?  Really? 

Thu, 01/05/2012 - 22:05 | 2037766 wretch
wretch's picture

Who the fuck says they're surprised?  It sucks, it makes sense, it's no surprise and it's a big deal.

Thu, 01/05/2012 - 23:37 | 2037975 Vampyroteuthis ...
Vampyroteuthis infernalis's picture

Mr. good musicians, some people are just so idealistic they can not accept a reality of our modern political system. All politicians lie. The bigger question is how often and how far off from the truth are they?

Fri, 01/06/2012 - 05:34 | 2038529 Last_2_Sense
Last_2_Sense's picture

Every time their lips move, and generally 180 degrees. 

Thu, 01/05/2012 - 18:18 | 2037209 CrockettAlmanac.com
CrockettAlmanac.com's picture

An accurate portrayal of the hypocrisy of Senator Obama turned President Obama is the big deal. The man said that raising the debt ceiling was a failure of leadership when he wasn't the top dog. Now he is top dog and he will lead by yet again raising the debt ceiling. "All politicians lie," is fine but it's good to have the details.

Thu, 01/05/2012 - 18:29 | 2037252 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Everything he says is a lie.  Counting his lies is like counting sand.

Thu, 01/05/2012 - 18:51 | 2037332 CrockettAlmanac.com
CrockettAlmanac.com's picture

...so are the days of our lives.

Thu, 01/05/2012 - 20:27 | 2037562 Lndmvr
Lndmvr's picture

The hourglass is glued to the table.

Thu, 01/05/2012 - 23:00 | 2037888 optimator
optimator's picture

giver yourself a break, it's much easier to count his truths!

Fri, 01/06/2012 - 00:21 | 2038055 gtb
gtb's picture

Still waiting for the first one...

Fri, 01/06/2012 - 01:09 | 2038139 blunderdog
blunderdog's picture

He admitted to doing coke, didn't he?

Fri, 01/06/2012 - 04:04 | 2038339 boattrash
boattrash's picture

It was probably meth, and another lie.

Fri, 01/06/2012 - 05:54 | 2038543 Havana White
Havana White's picture

He didn't want Bush appearing cooler.

Thu, 01/05/2012 - 18:49 | 2037323 Tortfeasor
Tortfeasor's picture

Moreover, he asked for the extension of time, then withdrew the extension.  Why?  Because when Congress was going to grant the extension, it would've required Congress to be "in session", not "in recess".  So he withdrew his extension request so he could steal more Congressional power.

Thu, 01/05/2012 - 19:50 | 2037459 redpill
redpill's picture

Not that Congress really minds having their power stolen, that way they can do even less and it gives them more time to collect on perks and bribery payments.  Congress has been happily giving away its responsibilities for a very long time.  Perhaps most notably in the Federal Reserve act of 1913 and the Second Liberty Bond Act of 1917.  Those two pieces of legislation essentialy resulted in the abdication of their budget responsibilities to the President, and in doing so sent the executive branch the message that they are free to create and spend as much money as they would like.  The resulting inevitable slow downward spiral began then, and we're getting pretty close to the bottom, kids.

Fri, 01/06/2012 - 00:42 | 2038094 DaveyJones
DaveyJones's picture

yes, all they do now is punt on first down. Pretty much staying out of that war thing too. The executive branch and the "regulatory" agencies have grown to size and power never imagined and never intended by our founders. Pretty common history story though

Fri, 01/06/2012 - 00:52 | 2038109 GMadScientist
GMadScientist's picture

Yeah, haven't noticed much gold-backed issuance of late (not that they're good for it, mind you).

 

Thu, 01/05/2012 - 19:52 | 2037487 Citxmech
Citxmech's picture

Lying is one thing - breaking a sworn oath to abide by and defend the Constitution is another thing alltogether.  

Thu, 01/05/2012 - 19:57 | 2037495 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Which President hasn't done that?  What politician hasn't done that?

Fri, 01/06/2012 - 04:57 | 2038509 AldousHuxley
AldousHuxley's picture

A Politician's job is to bend the constitution and other laws for the governed temporarily to achieve the objectives of the power elites. That's why they have a big lying contest they call "election campaigns" to find out America's best liars who can lie with a straight face and maintain popularity.

 

ALL presidents drop in popularity once they take power and carry out the orders from the ruling elite.  Obama's owners told him to bail them out and mask inflation by colonizing another oil producer to back up the freshly printed dollars.

 

 

Fri, 01/06/2012 - 00:47 | 2038101 Drunken Monkey
Drunken Monkey's picture

Actually it's not, you are either a man of your word or you are not.

Fri, 01/06/2012 - 05:56 | 2038545 Havana White
Havana White's picture

Yes.

 

Thu, 01/05/2012 - 19:54 | 2037488 Elwood P Suggins
Elwood P Suggins's picture

To lie you forgot to add cheat and steal.  Those are the 3 things politicians do best.

Thu, 01/05/2012 - 20:23 | 2037552 Dr.Vannostrand
Dr.Vannostrand's picture

 

I don't want to be hostile
And I don't want to be dismal
But I don't want to rot in
An apathetic existance

See, I want to believe you
And I wanted to trust you
And I want to have faith to
Put away the dagger

But you lie, cheat and steal
You lie, cheat and steal
You lie, cheat and steal
And yet I tolerate you

You lie, cheat and steal
You lie, cheat and steal
You lie, cheat and steal
And yet I tolerate you

Veil of virtue hung to hide your method
While I smileing and laughing and dance
And sing and praise your glory
Shroud of virtue hung to mask your stigma
As I smile and laugh and dance
And sing your glory
While you

Lie, cheat and steal
You lie, cheat and steal
You lie, cheat and steal
How can I tolerate you?

You lie, cheat and steal
You lie, cheat and steal
You lie, cheat and steal
How can I tolerate?

Our guilt, our blame
I've been far too sympathetic
Our blood, our fault
I've been far too sympathetic

I am not innocent
You are not innocent
No one is innocent

You lie, cheat and steal
You lie, cheat and steal
You lie, cheat and steal
You lie, cheat and steal

You lie, cheat and steal
You lie, cheat and steal
You lie, cheat and steal
You lie, cheat and steal

You lie, cheat and steal
You lie, cheat and steal
You lie, cheat and steal
You lie, cheat and steal

You lie, cheat and steal
You lie, cheat and steal
You lie, cheat and steal
You lie, cheat and steal

I will no longer tolerate you
Even if I must go down beside you
I must go down beside you
No one is innocent

Tool - Intolerance

 

Fri, 01/06/2012 - 01:06 | 2038131 GMadScientist
GMadScientist's picture

http://www.youtube.com/watch?v=mKweBcU2s9A

Thieves! 

Thieves and Liars!

Murderers, hypocrites and bastards!

ELECTED!


Hey! Thanks for nothing!

Morals in the dust

Two-faced, lying fucking hypocrites.

no trust.

 

   Thieves and Liars!

   Inside, outside, which side? We don't know!

   My side, your side, their side? You don't know!

   Which side are they? Which side are they?

   Out of which side of their mouth do you suppose that it came?

 

   You're like a great big fucking gun, just waiting to get squeeeezed.

 

Greed: Corporate Erection

Classical Rejection

Geriatric buttfucks...with dissimilating minds

 

  You're like a big hit of acid, just waiting to be taken!

Fri, 01/06/2012 - 00:44 | 2038095 DaveyJones
DaveyJones's picture

and molest assistants

Thu, 01/05/2012 - 18:30 | 2037256 SheepleLOVEched...
SheepleLOVEcheddarbaybiscuits's picture

all yourz SS and pensions are belong to us! muaahhahah

Thu, 01/05/2012 - 18:34 | 2037272 SWRichmond
SWRichmond's picture

Obviously we have way too much money.  I think we should invade someone.

Thu, 01/05/2012 - 23:50 | 2038001 economics1996
economics1996's picture

Canada.

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