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Update: America Has A $16.4 Trillion Debt Ceiling In 52-44 Senate Vote
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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Makes me sick
[Hands Missiondweller a paper bag with Obama's face on it]
Another debt ceiling increase? God damn honkies! All these fucking white politicians destroying our country!
Max Fischer
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.
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.
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.
So, it didn't pass, so does that mean...what's that mean? Will someone help me out, I's confused....
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!!
Traitors.
PMs should see a small pop though.
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.
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!!!!!!
oil money, literally.
They'll get high off of the fumes and not care that they are cold.
I believe Australia has had plastic money for a very long time (since 90's or so).
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
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.,
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.
Double
The last time the government built something that helped the economy was the interstate highway system in the 1950s.
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.
Why can't we just adopt a National Fractional Reserve Energy Policy tied to carbon credits?
Al Gore/Arianna Huffington 2012
I didn't realize it was possible to "print" commodities.
If you can get enough unicorns together anything is possible.
Private rail had a different take on that.
@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
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.
NO! NO!
Let them go. This is amazing. I'm semi-erect.
Almost clever there RNR/LFP.
dude is talkin to himself
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.
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.
Did you get beat up often as a child?
By Quakers.
Hate to agree with MDB but he has a point - logic.
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.
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.
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
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.
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.
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
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.
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
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.
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.
http://trololololololololololo.com/
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)!)
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.
"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.
+1
Prosperity of the minimum wage earners. Pure comedy gold.
Yeah. And there's all kinds of liberals, to. Faggots in San Francisco. Faggots in Miami. Faggots in NYC.
HAHHAHAHAHAHAHAHAHAHAHAHAHAHAHA!
Ron Paul 2012
You are such a duche. You are the biggest duche. You are filled with hate. How dare you lump such a stereotype! Ron Paul supports State's rights you idiot! He supports marriage for whomever wants it. He supports whatever each State wants! You are the greatest duche in the universe.
Why are you arguing with me? I know Ron Paul supports gay marriage! That's why most Ron Paul supporters are the most faggot tolerant voters in America. Go to any Ron Paul forum, and you'll find the most friendly, tolerant, diverse group of individuals anywhere.... including faggots.
>>>Go to any Ron Paul forum, and you'll find the most friendly, tolerant, diverse group of individuals anywhere.... including faggots.<<<
and his Christian Reconstructionist nutball Old Testament bible banging core supporters!!!
At least the campaign is diverse...if not schizophrenic...and I'm being serious.
Public Stonings 2012!!!
Gay Marriage 2012!!!
Legalized Pot 2012!!!
No Abortions Under Any Circumstances 2012!!!
All of the 'tongue in cheek' posting around here is making it hard to discern who is troll baiting, who is trolling, who is serious and who is flat out crazy/delusional. I have a hard time deciphering MDB sometimes. His posts seem to walk the tightrope of ridiculous baiting and drooling delusion. Either way, I enjoy ZH for the information/education/multiple viewpoints but the back and forth between MDB and others is getting a little tired. Don't know why I posted this as a reply to you in particular, it just seemed to fit in the flow.
I made the mistake of going down that road once with MDB, he is indeed serious.
no he's not. And he and Fischer are one and the same.
I'm not sure what's more entertaining. Is it his posts or the angry responses to them?
if not, then they should switch names and then all will be right again here in ZH comments
>>>but the back and forth between MDB and others is getting a little tired.<<<
It's Fight Club...it will wear your ass out.
You wrote "duche" many times. Who's the douche now? /tease
wasting alot of energy on 1 group of people to hate, Maxi
......The elegy of every twisted Marxist experiment in the history of the world.
Idiot thinking and par for the course for MDB. " ...support programs for the poor. The government has a MORAL responsibility to provide these things...."
What an Alinsky driven fool, who's probably never heard of the Cloward-Piven strategy of the "Weight of the Poor"
MDB would love to see the size of an already huge Government, grow and grow, like some Chimera until it's oppressive weight suffocates the private economy (well, what's left of it anyways).
MDB only has to look to California, to see what rampant, stupid socialism will do to the budget. The top taxpayers are fleeing the state, even with the call for 'more taxes on the rich', even though the top 15% pay 85% of the Income Taxes on the State.
Meanwhile, California will pay for your baby and the next one, and so on. And the TAXPAYER (not the goddamn Govt, where do you think the money comes from fool?) will pay for this and California's First Five, and CALWORKS babysitting and free school breakfasts, lunches, snacks and so on.
Hey buddy boy, who said I have to pay for someone else to reproduce on my dime?
And through Section 8, I pay for their housing. Don't forget Food Stamps (or Obama voters!)
that socialism WORKS in all-white states in the NE.
It only DOESN'T work when you bring 50% of the population in as mexicans.
there's a reason africa is africa and mexico is mexico and canada is canada. It's the fuckin PEOPLE.
You cannot extend a social contract to people who don't uphold their end of it.
MillionDufusBoner with more Socialist propaganda drivel. Sorry, but I appreciate your compassion for the poor and weak but this spending binge is going to stop soon with a startling crash and the world may be finally free of this oppressive Keynesian spending.
I just love MDB... the purity of the comments is uncanny.
Communist, yes... but still incredibly uncanny.
I like that logic. I will build a bigger house as soon as possible, take out a huge mortgage and ensure my children will pay it off for me when I am dead, because it is my MORAL responsibility to provide them with luxuries they can pay for later. </sarc off>
The debt ceiling increase also funds wars, war machines, 150 plus milirary bases around the world, bombs in Libyia, Guantanamo Bay, FEMA camps, etc...
Aside from straight up death and destruction our debt ceiling also provides donations and subsidies to companies like Solyndra, GM, Monsanto, etc...
If we spent our resources just on roads, schools, and taking care of our elderly and sick, then I would be okay with it.
However, we waste it on Global destruction and manipulation of the ameircan way.
We're also supplying bombs to kill brown people on various parts of the planet, Multi-Trillion foreign bank bailout$...how convenient, you leave out the ugly facts in yer post! -1,000,000 for you, PAY UP!
I hate it when there is more than one troll at the top of the thread. I don't know which one to aim at first.
Hey Lennon, my eyes aren't what the used to be, what is that new avatar of yours?
12 Monkeys
family portrait
FTMWF...i actually LOL'd at that
Just more B-Grade Kabuki theater on the Potomac. Season tickets still available.
They wouldnt even have staged the 'vote' unless they already knew it would pass.
I though Republicans were Democrats?
When was the last time we had a two party political system?
1892 when Democrats were for hard money.
Its been a one party system ever since. If you are playing the red team/blue team game you are a idiot.
<deleted>
Sad but true.
Best thing you've said in months really.
Ever
Hang on, I'm laughing so hard about that "moral case" thing.
I laughed so hard my great grand kids are hurting.
I'm going to go cry now for the future that has been sold...
Increased spending accessorized by an expanded debt ceiling is certainly the moral thing to do. Anything else would be...well...immoral.
The balls are usually in ObaMao's mouth, I think you meant to say, MDB.
Amazing people talk about how much money AAPL has on its B/S, when put in this perspective, it wouldn't cover 30 days of just the deficit spending!!!
Congrats everyone, well done!
Olli Rehn says Greece needs a few billions more shortly. This will be the 3rd rescue package.
Ponzinomics Warp 10!
WOW! 52-44... sounds like it was a really good game. Did anyone DVR that, I would love to see that one.
Paul Krugman's 1 Point Plan to Erase The U.S. National Debt:
Problem solved, bitchez.
And that's how Nobel Laureates in Economics are won. Snap!
* Watch David M. Walker in the I.O.U.S.A. movie trailer - YouTube
* U.S. Is Bankrupt and We Don't Even Know It: Laurence Kotlikoff
* Sounding the national debt alarm - Houston Chronicle
* Boston University's Kotlikoff Explains Why The US Is Bankrupt
***Make sure to buy & read Paul Krugman's upcoming book, 'Debts Are From Mars, My Debt Solution Hails From Uranus,' to be sold at all fine bookstores and on Amazon.com soon.
Print $20 trillion and drop it from the helicopter.
The real reason the DoD is honing drone aircraft technology so finely is to allow The Bernank to more 'surgically' deposit/drop money. Dropping it from helicopters risks having some of it get into the hands of normal, everyday Americans, whereas drones can deliver large bundles of fiatski with surgical precision to the best friends of the New York Branch of The Non-Federal Reserve-less Non-Bank (Geithner's old stomping grounds).
Why don't we just invent a helicopter that is also a printer?
Here's some debt ceiling humor for you.
DEBT LIMIT - A GUIDE TO AMERICAN FEDERAL DEBT MADE EASY. - YouTube
Don't give them any ideas!
Fucking best idea I've ever heard.
Just fly and print and dump. With enough choppers we'll pay off all this debt in no time.
That's what we should do, just print us up trillions of dollars and use it to pay off all our debt's and then start over with a clean slate. Stop with all these silly little incremental debt ceiling hikes... just get it over with already. It's all fake worthless paper anyway.
I ENDORSE THIS PLAN
The only solution to the debt crisis, is more debt
--P. Krugman Nobel Winner
Worked out well for Enron......thanks Paul.
Don't you mean, "Debts Are From Mars, My Debt Solution Hails From Your Anus?"
From a speech in Congress in The Bankruptcy of the United States Congressional Record, March 17, 1993, Vol. 33, page H-1303, Speaker Representative James Trafficant Jr. (Ohio) addressing the House states:
“…It is an established fact that the United States Federal Government has been dissolved by the Emergency Banking Act, March 9, 1933, 48 Stat. 1, Public Law 89-719; declared by President Roosevelt, being bankrupt and insolvent. H.J.R. 192, 73rd Congress m session June 5, 1933 – Joint Resolution To Suspend The Gold Standard and Abrogate The Gold Clause dissolved the Sovereign Authority of the United States and the official capacities of all United States Governmental Offices, Officers, and Departments and is further evidence that the United States Federal Government exists today in name only.
The receivers of the United States Bankruptcy are the International Bankers, via the United Nations, the World Bank and the International Monetary Fund. All United States Offices, Officials, and Departments are now operating within a de facto status in name only under Emergency War Powers. With the Constitutional Republican form of Government now dissolved, the receivers of the Bankruptcy have adopted a new form of government for the United States. This new form of government is known as a Democracy, being an established Socialist/Communist order under a new governor for America. This act was instituted and established by transferring and/or placing the Office of the Secretary of Treasury to that of the Governor of the International Monetary Fund. Public Law 94-564, page 8, Section H.R. 13955 reads in part: “The U.S. Secretary of Treasury receives no compensation for representing the United States…
Prior to 1913, most Americans owned clear, allodial title to property, free and clear of any liens of mortgages until the Federal Reserve Act (1913) “Hypothecated” all property within the Federal United States to the Board of Governors of the Federal Reserve, in which the Trustees (stockholders) held legal title. The U.S. Citizen (tenant, franchisee) was registered as a “beneficiary” of the trust via his/her birth certificate. In 1933, the Federal United States hypothecated all of the present and future properties, assets, and labor of their “subjects,” the 14th Amendment U.S. Citizen to the Federal Reserve System. In return, the Federal Reserve System agreed to extend the federal United States Corporation all of the credit “money substitute” it needed.
Like any debtor, the Federal United States government had to assign collateral and security to their creditors as a condition of the loan. Since the Federal United States didn’t have any assets, they assigned the private property of their “economic slaves,” the U.S. Citizens, as collateral against the federal debt. They also pledged the unincorporated federal territories, national parks, forests, birth certificates, and nonprofit organizations as collateral against the federal debt. All has already been transferred as payment to the international bankers.
Unwittingly, America has returned to its pre-American Revolution feudal roots whereby all land is held by a sovereign and the common people had no rights to hold allodial title to property. Once again, We the People are the tenants and sharecroppers renting our own property from a Sovereign in the guise of the Federal Reserve Bank. We the People have exchanged one master for another.”
http://dev.republicoftheunitedstates.org/what-is-the-republic/history/
You may want to find other credible sources for those claims...and there are plenty...rather than the Congressman of Crimetown.
http://www.tnr.com/article/politics/crimetown-usa?page=0,8
I think there's a documentary coming out.
Edit--Coming Soon (the trailer is GREAT!)
http://www.kickstarter.com/projects/traficant/traficant-the-congressman-...
Keynes bitchez!
Raise the roof. Vaulted ceilings.
Missiondweller, use this. You'll never get that stuff out of your keyboard.
http://schulz.bytework.de/kotztuet/sic_sac_gr.gif
Whats the difference between watching politicians in the senate and monkeys at the zoo flinging poo at each other?
What no Drama?
For the $470.000 in fed dept that me & my family are responsible for i want FUCKING entertainment....
Mitt and Newt smiling like douchbags just aint cutting it for me anymore.
And they labled Greece as irresponsible...
What a joke
NOT WORK SAFE....http://www.youtube.com/watch?v=XnNgMvO7shI
You know most of this debt is to us, the US liabilities.
Farce: A comic dramatic work using buffoonery and horseplay and typically including crude characterization and ludicrously improbable situations.
A year, Durden? It only took the USA six months.
Which campaign slogan best represents the increase in debt?
A) Change
B) Hope
C) Yes we can
D) Winning the future
E) America, fuck yeah!
F) Don't worry everyone. Everything is bone!
Don't you need people to vote, looks empty
They didn't need people to vote for the creation of the Federal Reserve. That measure passed 2-1!
Quick look at Europe!!!
Gold should be at $1900 here in a few days....
Without the minute-by-minute threats from the S&P and minus the CNBC theater to create the illusion of a market, it all just seems kinda sad.
USA! USA!! USA!!!
'Update: the Senate has failed to reject a bid to stop the debt ceiling hike. US now has $16.4 trillion in debt capacity.'
Go ahead... pop that champagne you've earned it.
But they voted no...did they need 2/3? What just happened?
The voted "no" on a resolution to stop the increase in the debt ceiling.
So the sheeple see "NO" in the 10 second 5 o'clock news soundbite and go back to ipodding........or whatever it is they do.
LOL, don't you love this? What a joke. They didn't want to do this until after the next election so you better believe they have no clue what they are doing. This is not part of any coherent master plan.
In return for their "no" votes, insider trading will be allowed to continue unabated.
96-97 nooses of thick rope needed here. Maybe spare 3-4 with some hope and visions for rebuilding America.
...."big tall tree and a short piece of rope"........
CDB, Simple Man
Speaking of remodeling, some new carpet...
some sort of flames motif seems apropos.
This country does not have the stomach to kill politicians.
Just look at the outpouring of grief when some politico/crook responsible for the screwing of this great country got shot in AZ.
If you spare 2 or more, partisan bs will pop up the next day. Eagle Eye had it right. Best to just leave one.
Where are the cheerleaders? Oh, that's right. They're all in the back rooms furiously pumping 'key' Senators.
Don't look now but........Thar she blows.
Titanic in 5 seconds.
http://www.youtube.com/watch?feature=fvwp&v=OuSdU8tbcHY&NR=1
Bernanke in 5 seconds (5 seconds = $1,600,000.00 dollar increase in US debt)
http://www.youtube.com/watch?v=sGIevO3BNBA&feature=related
as long as the russians and chinese continue to buy U.S. debt, everything will be ok... oh wait...
5 second synopsis of debt cieling resolution...
http://www.youtube.com/watch?v=sGIevO3BNBA&feature=related
"dont stop til u get enough"
(hee, hee, hee!!)
Can we have a chart of the rate of increase of the debt ceiling vs. the GDP of the US...this latest increase is 8% and seems to last less than 6 months...
Debt ceiling, Schmedt ceiling, as long as the markets up. Now go to bed and leave me alone.
I'd expect a guy who literally pulls money out of his ass to say something like that.
Not me. Im broke. I have nothing
Louis Dega carried his money roll in his rectum in order to smuggle it into French Guyana.
Put your knee pads and goggles on boyz, we are about to get showered with some trickle down.
[The Bernank pisses on taxpayers & releases a statement reading "the economic outlook is ripe for episodic storm clouds and periodic showers."]
It makes me sick to my stomach...I wonder if it makes them too....?????
Gonna need more than $1.2T to fight the aliens. The S.S. Krugman is going to cost $5T alone.
can't we just duct tape a few space shuttles together?
This must not be important- I haven't heard about it on the nightly news
It's part of the Ron Paul blackout which was reinstituted after New Hampshire. Can't let the good doctor get a bump from reality.
http://www.youtube.com/watch?v=3Ig-6f0g55c
Any republican that votes for this should get no support at the RNC in Tampa. He or she should be booed royally for this. This is the year you get to tell them that theyre going to lose campaign support for this shit
You appear to have missed all the republican debates where the audience was full of fat idiots cheering on more wars/debt after each candidate (sans RP) talked about blowing up other countries. Since when has the republican party cared whatsoever about reducing debt in any fashion other than lip service?
The people they let into the debates are significantly different than the people in the conventions and standing outside the debates.
Ron Paul is the only office holder in the Republican race and he has voted against raising the debt ceiling for like the 27th time.
funny how this debate at one point lowered our rating...
Now it doesnt even make the news.
To me it just further shows how close it is to all blowing up.
I guess who gives a shit because we are NEVER going to pay this back. Might at well keep the party going until Obozo gets another term due to the lack of a decent presidential contenter other than Ron Paul who the media will do everything to keep him from getting elected. Can't have an outsider for POTUS...btw, F B Obozo.
As long as we spend the money building the USS Paul Krugman we'll create infinite billion jobs right?