Update: America Has A $16.4 Trillion Debt Ceiling In 52-44 Senate Vote

Tyler Durden's picture




 

Update: the Senate has failed to reject a bid to stop the debt ceiling hike with a simple 52 vote majority all of it along party lines. The US now has $16.4 trillion in debt capacity as of Friday. Since roughly $100 billion was plundered from Pension Funds in the past month, The US will have about $15.4 trillion in debt with the Monday DTS. The question then is how long will the $1 trillion in debt capacity last: at $125 billion/month it won't be enough to carry the US past the election without another massive debt ceiling spectacle.

While Congress recently voted down the increase in the US debt ceiling, that vote was largely irrelevant. And all that matters is how the Senate will vote. Watch it live in progress below. It is virtually unlikely that the process of debt ceiling increase will be overturned so within minutes the US should have a brand spaking new debt ceiling of $16.4 trillion.

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Thu, 01/26/2012 - 13:04 | 2099939 Missiondweller
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Makes me sick

 

Thu, 01/26/2012 - 13:08 | 2099955 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

If you spew, spew in this.

[Hands Missiondweller a paper bag with Obama's face on it]

Thu, 01/26/2012 - 13:21 | 2099968 Max Fischer
Max Fischer's picture

 

 

Another debt ceiling increase?  God damn honkies!  All these fucking white politicians destroying our country! 

Max Fischer

Thu, 01/26/2012 - 13:23 | 2100011 MillionDollarBonus_
MillionDollarBonus_'s picture

The ball is in Obama's court now. He needs to reach out to dissident republicans and convince them of the moral case for increased spending.

Thu, 01/26/2012 - 13:26 | 2100026 Everybodys All ...
Everybodys All American's picture

Dissident? You can do so much better. Yes you can. Yes you can. $20 trillion on deck in 4 yrs. You are a waste of time and bandwidth.

Thu, 01/26/2012 - 13:28 | 2100035 MillionDollarBonus_
MillionDollarBonus_'s picture

It's easy to quote scary sounding debt figures without any context, but what is this debt financing. The truth is that it is financing roads, bridges, schools and support programs for the poor. The government has a MORAL responsibility to provide these things, even if it means borrowing from future generations of unborn children. When these children grow up with the fruits of a compassionate government, they will thank congress for their wisdom and kindness.

Thu, 01/26/2012 - 13:31 | 2100044 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

So, it didn't pass, so does that mean...what's that mean?  Will someone help me out, I's confused....

Thu, 01/26/2012 - 13:39 | 2100101 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

The bill was to reject a debt ceiling hike?  Ok, so we razed the debt ceiling.  Praise the lord!  Time to drop some dollars from the sky!  Make it rain Bernanke!!

Thu, 01/26/2012 - 14:11 | 2100147 redpill
redpill's picture

Traitors.

PMs should see a small pop though. 

Thu, 01/26/2012 - 14:14 | 2100261 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Retrace back to $1900 during the next three weeks, and then it will find equilibrium at $1800 before the EUro collapse.  Euro colapse in early March.  Then it skyrockets. 

Thu, 01/26/2012 - 14:24 | 2100290 TruthInSunshine
TruthInSunshine's picture

Canada's new 'paper' money is made entirely of plastic (no, I shit you not/this-is-not-inane-ranting):

How the hell are people going to stay warm? That shit doesn't burn!!!! IDIOTS!!!!!!

Thu, 01/26/2012 - 14:28 | 2100324 BeerBrewer09
BeerBrewer09's picture

oil money, literally.

Thu, 01/26/2012 - 14:32 | 2100340 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

They'll get high off of the fumes and not care that they are cold.

Thu, 01/26/2012 - 14:41 | 2100383 Rincewind
Rincewind's picture

I believe Australia has had plastic money for a very long time (since 90's or so).

Thu, 01/26/2012 - 16:03 | 2100659 Silver Dreamer
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I used to suggest we'd be over 20 trillion by 2015.  Now I'm no longer sure.  It may take far less time.  Perhaps we'll be at 20 trillion by the end of the year.  Ignorance is bliss?

Sometimes I seriously just want to go back to sleep: http://youtu.be/7D_q2tS4WHA

Thu, 01/26/2012 - 16:26 | 2100726 peekcrackers
peekcrackers's picture

I am Canadian .. The realy wierd part is the new plastic 100.00

smell like Maple syrup and pancakes ..  I am not kidding google it.,

Thu, 01/26/2012 - 14:11 | 2100254 orkoSvalbard
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The bill was to put forth "disapproval of the President’s exercise of authority to increase the debt limit."  It started in the House (Republican) and was rejected by the Senate (Democrat).    Anyway, increasing the debt limit just means that we can sell more treasuries to the Fed.   We were told months ago that Goldman runs the world.  This is just more proof.

Thu, 01/26/2012 - 14:12 | 2100255 orkoSvalbard
orkoSvalbard's picture

Double

Thu, 01/26/2012 - 13:30 | 2100046 economics1996
economics1996's picture

The last time the government built something that helped the economy was the interstate highway system in the 1950s.

Thu, 01/26/2012 - 13:43 | 2100122 LawsofPhysics
LawsofPhysics's picture

Well, that was one good thing, but don't forget that at that time the U.S. had a lot of oil that was cheap to extract.  I wonder where MDB expects the cheap energy to come from?  Print all you want, nothing will get done if the energy is not available.  perhaps I need to take another look at my energy portfolio.

Thu, 01/26/2012 - 13:54 | 2100178 A Lunatic
A Lunatic's picture

Why can't we just adopt a National Fractional Reserve Energy Policy tied to carbon credits?

Al Gore/Arianna Huffington 2012

 

Thu, 01/26/2012 - 14:04 | 2100220 LawsofPhysics
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I didn't realize it was possible to "print" commodities.  

Thu, 01/26/2012 - 14:19 | 2100274 A Lunatic
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If you can get enough unicorns together anything is possible.

Thu, 01/26/2012 - 13:52 | 2100160 stirners_ghost
stirners_ghost's picture

Private rail had a different take on that.

Thu, 01/26/2012 - 13:31 | 2100054 Max Fischer
Max Fischer's picture

 

 

@MDB

Clearly, you're just another liberal faggot.  We need to crash the system, even if it means urban warfare and anarchy.  If you aint't got guns, gold and canned food, you ain't gonna make it, son.  You've been warned. 

Ron Paul 2012

Thu, 01/26/2012 - 13:32 | 2100061 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

I can't handle trolls trolling trolls this early.  Can one of you leave and come back later, otherwise I am going to need another cup of tea.

Thu, 01/26/2012 - 13:34 | 2100070 GeneMarchbanks
GeneMarchbanks's picture

NO! NO!

Let them go. This is amazing. I'm semi-erect.

Thu, 01/26/2012 - 13:35 | 2100072 fuu
fuu's picture

Almost clever there RNR/LFP.

Thu, 01/26/2012 - 15:45 | 2100606 trav7777
trav7777's picture

dude is talkin to himself

Thu, 01/26/2012 - 16:00 | 2100650 fuu
fuu's picture

If so he does a good job staying in character as MDB. He has a harder time on the other side, he eventually repeats an earlier persona verbatim.

Thu, 01/26/2012 - 13:39 | 2100098 MillionDollarBonus_
MillionDollarBonus_'s picture

You see? This is the kind of masochistic libertarianism that is DESTROYING this great country. There are many varieties of libertarian, from redneck silverbugs to insane delusional conspiracy theorists and anarchist computer nerds. However, they all share a sick masochism and hate for decent principles and the common citizenry.

Thu, 01/26/2012 - 13:44 | 2100125 Mr Lennon Hendrix
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Did you get beat up often as a child?

Thu, 01/26/2012 - 14:19 | 2100273 WillyGroper
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By Quakers.

Thu, 01/26/2012 - 13:45 | 2100128 zerotohero
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Hate to agree with MDB but he has a point - logic.

Thu, 01/26/2012 - 13:55 | 2100179 YBNguy
YBNguy's picture

Wake the F up, there is NO difference between the 2 parties. Hence Barrack Bush III. All once great empires fell, and we are different how? Shits going to get bad over the next 10 years and with history having my back, your point is ILLOGICAL. But keep thinking we can save it all, hell go to detroit and start there, your hopeium is needed.

Thu, 01/26/2012 - 14:43 | 2100391 HoofHearted
HoofHearted's picture

zeronotahero...hate to break it to you, but MDB is the greatest sarcastic poster around. He's probably laughing his ass off that you believe something so patently absurd.

Thu, 01/26/2012 - 16:41 | 2100769 peekcrackers
peekcrackers's picture

This is good .. got it off the Ron Paul site.

2 party sytem for dummies

http://www.youtube.com/watch?v=ofWWVFOSNoA&context=C3da81d1ADOEgsToPDskLS6TdzlbxkP_z3LPXwldWS

Thu, 01/26/2012 - 13:47 | 2100137 LawsofPhysics
LawsofPhysics's picture

Yeah, people get like that when you steal the value of their labor.  Fuck all the paper-pushing fucknuts.  None of this is sustainable, know the value of your labor? you fucking better.

Thu, 01/26/2012 - 13:55 | 2100175 MillionDollarBonus_
MillionDollarBonus_'s picture

This isn't some third world country like the Congo or India! We are Americans and we deserve AMERICAN WAGES, no matter what value you place on our hard work. The minimum wage has brought prosperity to millions of people, and raising it would improve living standards further still.

Thu, 01/26/2012 - 14:03 | 2100207 Max Fischer
Max Fischer's picture

 

 

Minimum wage laws?  No FUCKING WAY, YOU MARXIST PIECE OF SHIT!  We need survival of the fittest, where everyone fights for whatever crumbs the plutocracy leaves for us.  Just because you're a pussy and can't fight for yourself, doesn't mean the entire country needs pussy policies. If everyone learned how to fight, we wouldn't have become a nation of dependent pussies.  Minimum wage is only for the poor parasites, anyway. If we can get rid of the stray dogs, the entire neighborhood will look better, if you know what I mean. 

Ron Paul 2012

 

 

Thu, 01/26/2012 - 14:08 | 2100231 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Minimum wage keeps people from getting a wage they deserve.  If you accept the minimum of anything, you will the minimum.  Don't you see the logic?  No?  Read Mises then.

Thu, 01/26/2012 - 14:15 | 2100265 Max Fischer
Max Fischer's picture

 

 

Exactly.  

If we could pay some people (and we both know what people I'm talking about <wink, wink>) two or three dollars an hour, then the corporations would become richer.  When the corporation becomes richer, the 1% gets rich and they, in turn, "trickle down" their wealth onto the masses.  The liberal faggots seem to think that the "trickle down" is nothing but bullshit, a "golden shower" from the plutocracy, but that's only because they're perverts and that's just the way they think.  Real trickle down economics has proven to be a success in many different countries, including the US over the last 30 years.  

Ron Paul 2012

Thu, 01/26/2012 - 14:37 | 2100357 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Or we could have no minimum wage and workers could go on strike until they recieved fair comp vs. corporate earnings which would be much higher than the minimum.  Of course with most corporate jobs overseas due to NAFTA it would need to be a revolution against the fascist government/corporate system.

Thu, 01/26/2012 - 16:11 | 2100687 Silver Dreamer
Silver Dreamer's picture

Logic is not allowed.  You must rely solely on emotions to defend your positions.  The minimum wage makes me feel better about myself after all.

Fri, 01/27/2012 - 00:10 | 2101667 StychoKiller
StychoKiller's picture

Well then, why not increase the minimum wage to something really useful, like $2000/hr?  (Hint, because it would draw attention to the logical fallacy of demanding minimum wage(s)!)

Thu, 01/26/2012 - 14:29 | 2100314 LawsofPhysics
LawsofPhysics's picture

Precisely.  A "minimum" wage implies that there is some "minimum" level of work that will insure your survival.  If Nature can not insure your survival, why would anyone believe that any man-made law or institution could.  This reminds me of visiting Russia during communism and trying to get good service in a restaurant.  Why should any of the waiters work a little harder, they were all getting paid the same regardless.

America isn't a third world country yet, but there certainly are some "minimum wage" neighborhoods that come close.

Thu, 01/26/2012 - 14:02 | 2100216 LawsofPhysics
LawsofPhysics's picture

"The minimum wage has brought prosperity to millions of people"

LOL!!!  BAh ha ha ha ha ha!  Yeah, supersize me.

You are indeed halarious MDB.  Again, print all you want, my commodities portfolio will be very happy.

Thu, 01/26/2012 - 14:08 | 2100237 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

+1

Prosperity of the minimum wage earners.  Pure comedy gold.

Thu, 01/26/2012 - 13:58 | 2100183 Max Fischer
Max Fischer's picture

 

 

Yeah. And there's all kinds of liberals, to. Faggots in San Francisco. Faggots in Miami.  Faggots in NYC.  

HAHHAHAHAHAHAHAHAHAHAHAHAHAHAHA!

Ron Paul 2012

 

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