This page has been archived and commenting is disabled.

America Maxes Out Its Credit Card Again - Treasury To Raise Debt Limit By Another $1.2 Trillion On December 30

Tyler Durden's picture




 

You didn't think US consumer confidence could be bought for free now did you?

  • U.S. TREASURY SAYS DEBT LIMIT TO BE RAISED BY $1.2 TRILLION
  • U.S. DEBT TO BE $100 BLN WITHIN LIMIT ON DEC. 30, TREASURY SAYS
  • STEPS FOR INCREASING DEBT LIMIT UNDER 2011 BUDGET CONTROL ACT

And the piece de resistance that 100% debt to GDP brings:

  • OBAMA ON DEC. 30 LIKELY TO ASK CONGRESS TO RAISE DEBT LIMIT

Just as we thought the circus was over if only for a few weeks. Also, this means that in a few days, the US debt ceiling will be raised from $15.194 trillion to $16.394 trillion. As a reminder, US GDP was just revised down to $15.176 trillion.

 

- advertisements -

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Tue, 12/27/2011 - 11:23 | 2013504 SheepDog-One
SheepDog-One's picture

Got to be good for at least +20 on the S&P today huh fellas?

Tue, 12/27/2011 - 11:31 | 2013520 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

I love the smell of desperate Keynesianism in the morning....it smells like victory.

Tue, 12/27/2011 - 11:32 | 2013533 strannick
strannick's picture

It smells like QE-ictory

Tue, 12/27/2011 - 11:34 | 2013540 eureka
eureka's picture

RE: "You didn't think US consumer confidence could be bought for free now did you?"

- and Keysianism...

It's all good  - you just have to be an optimist - and that is the chief charactertrait of the US psyche - just think of our beloved heroes of optimism & hope: Donald Duck, Donald Trump, Donald Rumsfeld... and of course The Prince of Peace & Hopium par excellence, His Athletic Rockstar Emminence "Donald"-Barrack Obama...

The parade of of US clowns is endless.... - and cheap - all it costs is a little optimism - is that too much to ask?

Tue, 12/27/2011 - 11:44 | 2013586 Sudden Debt
Sudden Debt's picture

Waw... This reads like a poem!
You just won a trip to greece!
The land that doesn't has a printing press like the US has but spends money just like it!

Tue, 12/27/2011 - 12:57 | 2013793 The Big Ching-aso
The Big Ching-aso's picture

 

 

I'm not too worried.   After we run out of credit we just become a cash n' carry economy.    Put cash in wheelbarrow, carry to store, put groceries in wheelbarrow, carry home.   No need then for credit ceiling hikes.    Everyone happy-happy.        Wheelbarrow manufacturers in Beijing especially.

 

Tue, 12/27/2011 - 20:04 | 2015029 StychoKiller
StychoKiller's picture

Umm, just keep an eye on that wheelbarrow, someone might steal it!

Tue, 12/27/2011 - 11:35 | 2013551 BandGap
BandGap's picture

Psssst! They are not desparate. They get what they want, every time.

Tue, 12/27/2011 - 11:54 | 2013624 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

They want oil +$100?  Gold +$1600?  There are limitations to the Fiat Ponzi's breadth. scope, and measures of alchemy.

Tue, 12/27/2011 - 12:50 | 2013837 NotApplicable
NotApplicable's picture

It's all a matter of timing. Once they've transferred all of the wealth from the debt slaves, they'll have no problem with everything being priced out of everyone else's reach.

As for the idea of preventing a revolt, well, since (as Mises said) there's no escaping the crack-up phase of a credit-fueled boom, so, being the creative-destructionists they are, they'll just use the opportunity to thin the herd of the rowdy young bucks while shepherding the passive into the protective police state.

By and large, private property will once again be possessed only by the ruling class.

And with that cheerful thought, maybe I should just go back to bed.

Tue, 12/27/2011 - 13:36 | 2014001 ActionFive
ActionFive's picture

Commodity police state.

Tue, 12/27/2011 - 11:37 | 2013559 Stoploss
Stoploss's picture

LOLOLOL!!!!! Didn't even make it to the end of the year!!

Tue, 12/27/2011 - 11:40 | 2013569 Sudden Debt
Sudden Debt's picture

And now we know what santa was carrying in his big red bag!
Benny used a helicopter, santa uses a sled
AND ALL IN THE NAME OF THE FED!!!

Tue, 12/27/2011 - 11:51 | 2013613 solgundy
solgundy's picture

help destroy America.........re-elect Obama

Tue, 12/27/2011 - 14:12 | 2014117 Ned Zeppelin
Ned Zeppelin's picture

if not the Kenyan, who would you have us vote for?

Tue, 12/27/2011 - 14:21 | 2014134 Excursionist
Excursionist's picture

<sigh> Normally views like this could be written off as sarcasm, attempts at humor, etc., but we seem to have arrived at a point where Rome (both literal and figurative) burning to the ground is perhaps the fastest way to get back on track.

Tue, 12/27/2011 - 14:44 | 2014202 Silver Dreamer
Silver Dreamer's picture

We already have our own barbarian horde too to help burn it down.

Tue, 12/27/2011 - 20:37 | 2015078 mailll
mailll's picture

Or elect any other puppet that the elite put before us.  I personally would vote for Ron Paul, even though if elected, he would have to take on the beast (new world order/one world government). 

Tue, 12/27/2011 - 13:00 | 2013581 FinHits
FinHits's picture

How does the math go again?

Eurozone has something like €8,500 billion of government debt, or at 1.30 USD fx rate $11,000 billion. It is increasing, but not as fast as the debt in e.g. USA or Japan.

All of those three have started to put debt brakes in their system (although I am not too sure about Japan). The European debt brake ("fiscal compact") probably has the highest chance of working, since the markets are voting against debt growth in the Eurozone periphery, but are not doing the same for USA or for Japan.

In the Keynesian world the debt brakes are supposedly bad, but it would be great to see if this could be proven wrong with a real world experiment. Eurozone looks like a possible anti-Keynesian guinea pig in 2012. Maybe it will get slaughtered, at least the PIIGS parts. Maybe not.

 

It would be great if ZeroHedge would calculate the debt velocity of various countries. Probably absolute numbers in USD billions/year are more interesting than % of GDP since the Keynesian government spend bias distorts GDP figures.

Tue, 12/27/2011 - 11:23 | 2013505 SHEEPFUKKER
SHEEPFUKKER's picture

BAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAA!!!

 

Tue, 12/27/2011 - 11:26 | 2013515 Schmuck Raker
Schmuck Raker's picture

...Humbug.

Tue, 12/27/2011 - 11:34 | 2013547 SheepleLOVEched...
SheepleLOVEcheddarbaybiscuits's picture

hahah whats the point of a debt ceiling if all they do is raise it?

Tue, 12/27/2011 - 11:39 | 2013564 Iriestx
Iriestx's picture

That's what I don't understand.  Just raid it by $900t and be done with the whole affair... at least until Barry maxes that figure out mid-way through his second term.

Tue, 12/27/2011 - 12:40 | 2013802 Dr. Engali
Dr. Engali's picture

It's called politics. How can one side point the finger at the other and say "look how much they are spending" without the political theater of a debt ceiling?

Tue, 12/27/2011 - 12:59 | 2013859 NotApplicable
NotApplicable's picture

It's called the political theatre of directed history. They go through this idiocy long enough, and eventually people will just let them turn this practice into another automatic function where X is added annually, and all of the infighting will be over the value of X (ultimately obscuring the fact that X should be a constant in order to have any value). Once that battle becomes too entrenched, then they will turn the annual constant into a variable as well, making it semi-annual, or quarterly, monthly...

Oh, and while all the sheeple fight over these variables, they never once bother to consider that they should never even exist (if the world is to be a better place). Nope, to them there is nothing we cannot afford to buy ourselves collectively on credit. The only question is for what scam to spend it on.

Tue, 12/27/2011 - 11:40 | 2013566 tarsubil
tarsubil's picture

Every once and a while it can be used as a distraction. But not too often, or the people will catch on. Can't have the people catching on.

Tue, 12/27/2011 - 13:10 | 2013897 gdogus erectus
gdogus erectus's picture

Debt ceiling?  No, no, no - it's the debt target.  I think that's just a typo.

Tue, 12/27/2011 - 13:46 | 2014032 Iconoclast
Iconoclast's picture

Only two weeks back it wasn't projected to bust through the new limit until March April..wtf has happened? USA has burnt through an extra $2.1 trl inside 4 months..???!!! Fukc...

Tue, 12/27/2011 - 23:32 | 2015268 mailll
mailll's picture

Like most people already knew, it was all a charade.  The ultimate goal is to spend, spend, spend until we crash.  But the puppet politicians already got their rewards --- for being puppets.  And the American people are up in arms over this, literally.  In December, more guns were sold in one month than in any other month in US history, breaking the previous high set in November.

Tue, 12/27/2011 - 11:24 | 2013507 fuu
fuu's picture

Send in the clowns.

Tue, 12/27/2011 - 11:27 | 2013518 junkyardjack
junkyardjack's picture

*Throw out the clowns

Fixed that for you

Tue, 12/27/2011 - 11:41 | 2013578 achmachat
achmachat's picture

talking of clowns...

can you believe they were going to impeach Clinton for that cigar story?

just take a step back and compare that to what the current oval office occupier keeps doing to the US. As a person from the other side of the pond I am watching in total disbelief.

Tue, 12/27/2011 - 13:03 | 2013874 NotApplicable
NotApplicable's picture

After the Coup of '63, what kind of beliefs can you possibly still hold?

Tue, 12/27/2011 - 13:54 | 2014055 Nobody For President
Nobody For President's picture

"Total Disbelief" would be a great psuedoname for a future ZH'er.

There is usually at least one 'news' article a day that does that to me.

Tue, 12/27/2011 - 19:36 | 2014974 Moe Howard
Moe Howard's picture

TPTB had him impeached for lying about the sex story.

The reason they investigated the sex story is so they could ignore the treason he committed transfering missle tech to Red China. When TPTB say look here, always look the other way to see what they don't want you to see.

Presidents and other powerful people have sex, all kinds of sex, with all kinds of people. It only comes out as a distraction.

Using a cigar on a woman over 21 is not a crime.

Tue, 12/27/2011 - 11:25 | 2013512 Scirocco
Scirocco's picture

SILVER BITCHEZ !

AND OIL...

*IRAN TO CLOSE STRAIT OF HORMUZ IF OIL SANCTIONS IMPOSED: IRNA

Tue, 12/27/2011 - 11:34 | 2013549 Cole Younger
Cole Younger's picture

Do you really think they could do that? The U.S. would sink all there ships, take out there missle defences, and have a turkey shoot with there aircraft.

Tue, 12/27/2011 - 11:40 | 2013567 f16hoser
f16hoser's picture

You sink half a dozen big ships in the Straight, it's blocked-off. Not that deep. Fucked either way.

Tue, 12/27/2011 - 11:41 | 2013577 Scirocco
Scirocco's picture

The US is surely superior, but go collect thousands of mines thrown in the water that would make any oil tanker look like a giant torch...

 

Tue, 12/27/2011 - 13:58 | 2014066 Nobody For President
Nobody For President's picture

Iran has a couple; of allies: One of them is named Russia.

The other is named China.

It is a consideration...

Tue, 12/27/2011 - 11:26 | 2013514 Natural Man
Natural Man's picture

So 15,000,000,000BAMA is now becoming 16,000,000,000BAMA? GREAT!!!

Tue, 12/27/2011 - 11:26 | 2013517 JPM Hater001
JPM Hater001's picture

My favorite part was when they formed the debt commission followed by the Super Committee.  Together they have done a great job increasing the deficit. 

Bravo.

Tue, 12/27/2011 - 11:35 | 2013553 WonderDawg
WonderDawg's picture

Just remember, it's not a debt ceiling, it's a debt target.

Tue, 12/27/2011 - 12:30 | 2013766 Cast Iron Skillet
Cast Iron Skillet's picture

got it. so the gov has been overachieving, and everybody gets bonuses.

Tue, 12/27/2011 - 12:33 | 2013778 natty light
natty light's picture

Next there will be a double-secret probation limit.

Tue, 12/27/2011 - 11:27 | 2013519 Manthong
Manthong's picture

Debt is an asset.

It is a claim on future earnings if you are a bank.

It is a claim on your children if you are a government.

Tue, 12/27/2011 - 11:27 | 2013522 Irish66
Irish66's picture

Japan

Tue, 12/27/2011 - 11:32 | 2013523 MFL8240
MFL8240's picture

Are they fucking kidding? Just set the limit at 20 Trillion and end this horeshit.

Tue, 12/27/2011 - 11:36 | 2013557 Cole Younger
Cole Younger's picture

20 trillion will be here soon enough so you will get your wish.

Tue, 12/27/2011 - 12:08 | 2013655 rufusbird
rufusbird's picture

I was just trying to calculate what it would be at the end of January 2013, in 13 months. Any guesses?

 

Tue, 12/27/2011 - 12:14 | 2013706 Chupacabra-322
Chupacabra-322's picture

@ Cole Younger,

20 Trill, fuck that!  I say if you're going to go big, GO BIG!  Raise that fucker to 50 Trill. 

Tue, 12/27/2011 - 16:09 | 2014461 Panafrican Funk...
Panafrican Funktron Robot's picture

It will be at 23 trillion at current run rates by 2015.

Tue, 12/27/2011 - 11:28 | 2013524 BandGap
BandGap's picture

"To infinity and beyond!"

Tue, 12/27/2011 - 11:30 | 2013525 spastic_colon
spastic_colon's picture

..........it all makes sense when you factor in 5%+ GDP.................over 150 years

Tue, 12/27/2011 - 11:32 | 2013537 pods
pods's picture

So they agreed on all of those cuts the super-duper congress critter committee came up with?

In reality, the debt must expand, and private debt expansion is dead, state and local is dead, so the FEDs must expand the debt to keep the equation running.

pods

Tue, 12/27/2011 - 11:34 | 2013548 dick cheneys ghost
dick cheneys ghost's picture

or start a war............

Tue, 12/27/2011 - 11:45 | 2013587 pods
pods's picture

Yep.  Wars are a great way to expand the debt.  That is why we went on a decade+ long binge after the dot com bubble collapsed.

With the horeshit stories flung against the wall about Iran (the car dealer going to whack the Saudi guy in DC for starters), I think the next target is already chosen.

Wars also happen to keep lots of young men far away from home.  Cannot have that many sitting around wondering why things are so shitty.  Sooner or later they will figure out the problem.

pods

Tue, 12/27/2011 - 19:38 | 2014979 Moe Howard
Moe Howard's picture

Already stories in the military press that too many soldiers state side swamping services, housing etc.

Tue, 12/27/2011 - 11:33 | 2013538 GeneMarchbanks
GeneMarchbanks's picture

Wen Jiabao.

Tue, 12/27/2011 - 11:46 | 2013593 Scirocco
Scirocco's picture

BARBRA STREISAND

Tue, 12/27/2011 - 12:07 | 2013677 GeneMarchbanks
GeneMarchbanks's picture

Niels Bohr

Tue, 12/27/2011 - 22:20 | 2015197 WmMcK
WmMcK's picture

Max Plank?

Tue, 12/27/2011 - 12:09 | 2013686 mvsjcl
mvsjcl's picture

When GIABO.

Tue, 12/27/2011 - 12:13 | 2013702 GeneMarchbanks
GeneMarchbanks's picture

Right now?

Tue, 12/27/2011 - 11:33 | 2013539 UTICA CLUB XX PURE
UTICA CLUB XX PURE's picture

At this point the numbers have lost their meaning. What do young people have to look forward to anymore? Go to collage - return home to live with Mom & Pop and to wait in line for some trivial job? I'd rather opt out of the system altogether. Live off the land etc... Its pathetic!

 

Tue, 12/27/2011 - 11:39 | 2013565 Cole Younger
Cole Younger's picture

Buy some property in the wilderness and live off grid. No more hussle, bussle, or bull shit. Of coarse property taxes will be a bitch...

Tue, 12/27/2011 - 20:19 | 2015056 smiler03
smiler03's picture

Somebody somewhere said Chile is a great place to live.

Tue, 12/27/2011 - 11:34 | 2013541 bmwm395
bmwm395's picture

Hey when dose american idol start?

 

Tue, 12/27/2011 - 11:34 | 2013544 LookingWithAmazement
LookingWithAmazement's picture

Panic! Government shutdown! And in the end, they'll make it. More growth. No crisis. Happy 2012.

Tue, 12/27/2011 - 11:34 | 2013546 Everybodys All ...
Everybodys All American's picture

Obama at this rate in four more years could easily bankrupt us all.

Tue, 12/27/2011 - 11:41 | 2013575 Cole Younger
Cole Younger's picture

I am no fan of Obama but he does not hold the purse strings. Congress is the problem.

Tue, 12/27/2011 - 11:41 | 2013576 WonderDawg
WonderDawg's picture

Four more years? It won't take that long. Some would say "we" are already bankrupt.

Tue, 12/27/2011 - 12:21 | 2013731 Chupacabra-322
Chupacabra-322's picture

@ WonderDawg & Cole,

we've been bankrupt before, twice.  You forget about the bankruptcy of 1871 & 1933 when Roosevelt sold all of our Credit, labor and land to the foriegn Banking Cartels. 

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.”

  • In 1944, Washington D.C. was deeded to the International Monetary Fund (IMF) by the Breton Woods Agreement. The IMF is made up of wealthy people that own most of the banking industries of the world. It is an organized group of bankers that have taken control of most governments of the world so the bankers run the world. Congress, the IRS, and the President work for the IMF. The IRS is not a U.S. government agency. It is an agency of the IMF. (Diversified Metal Products v. IRS et al. CV-93-405E-EJE U.S.D.C.D.I., Public Law 94-564, Senate Report 94-1148 pg. 5967, Reorganization Plan No. 26, Public Law 102-391.)

http://dev.republicoftheunitedstates.org/what-is-the-republic/history/

Tue, 12/27/2011 - 11:43 | 2013582 LookingWithAmazement
LookingWithAmazement's picture

Enough Americans will vote for him. Obama re-elected, mark my words.

Tue, 12/27/2011 - 17:35 | 2014724 Panafrican Funk...
Panafrican Funktron Robot's picture

Not that it really matters either way.

Tue, 12/27/2011 - 11:57 | 2013642 HurricaneSeason
HurricaneSeason's picture

I thought Ben Bernanke was the captain and Obama was the pool boy.

Tue, 12/27/2011 - 11:35 | 2013550 bob_dabolina
bob_dabolina's picture

He should be impeached for this. 

Every incumbent should be voted out.

This is serial irresponsibility and they are destroying this country.

Tue, 12/27/2011 - 11:49 | 2013609 j0nx
j0nx's picture

Not only will none of what you suggest be done, but in actuality within a year just the fact that you had the nerve to suggest it in public will get you a one way ticket to Guantanamo to hang out with Haji and his terrorist Afghan buddies.

Tue, 12/27/2011 - 12:32 | 2013774 Chupacabra-322
Chupacabra-322's picture

@ bob_dabolina,

Pssst, got news for you Bob.  We're presently Goverend by three Criminal Branches of The Federal Government.  Criminality being conducted out in the open.  Illegal Wars, Insider Tradeing, Fast and Furious, NDAA, Torture etc...

Get the picture now, BOB? 

Tue, 12/27/2011 - 11:35 | 2013555 daveeemc2
daveeemc2's picture

Grover is pleased he has starved the beast; just 40 years ago taxes were >30% on those earning >$1MM/yr.

The unfunded liabilities will be the burden of our children.

 

Tue, 12/27/2011 - 11:36 | 2013556 RobotTrader
RobotTrader's picture

As if it really matters.

 

Another 100 point selloff in ES will trigger an immediate panic right back into bonds.

A print below 1200 again will no doubt send the 10-yr. yield careening towards 1.50%.

Bonds, by the way, are still pinned within a stone's throw of 52-week highs.

2011 was one of the best year's ever for both fixed income and dividend stocks.

Tue, 12/27/2011 - 11:44 | 2013584 tarsubil
tarsubil's picture

Every point up means more boomers retire. The boomers are retiring and soon will be selling. Buy all you can!

Tue, 12/27/2011 - 15:42 | 2014350 Canaduh
Canaduh's picture

*SNOOOOOOOOOOOORT*

*Sniff*

Whew.

I agree.

Tue, 12/27/2011 - 11:37 | 2013558 Curtis LeMay
Curtis LeMay's picture

 

 

U.S. TREASURY SAYS DEBT LIMIT TO BE RAISED BY $1.2 TRILLION

...

STEPS FOR INCREASING DEBT LIMIT UNDER 2011 "BUDGET CONTROL ACT"

 

WHAT "control"???

Fucking inept bozos in D.C...

Tue, 12/27/2011 - 11:46 | 2013590 Sudden Debt
Sudden Debt's picture

It's right after "The house stabilization ACT"

Tue, 12/27/2011 - 11:37 | 2013560 f16hoser
f16hoser's picture

Does this make previous article irrelevant?

 

Tue, 12/27/2011 - 11:41 | 2013570 Vince Clortho
Vince Clortho's picture

Must be bullish.  Market is responding favorably.

!.2 Trillion additional debt = 20 point bump in the Dow.

Take it up to an even 6 Trillion additional debt and we could see a triple digit day in the market!

Tue, 12/27/2011 - 11:46 | 2013598 Sudden Debt
Sudden Debt's picture

Just imagine what another 10 trillion could do!

Tue, 12/27/2011 - 11:42 | 2013579 tarsubil
tarsubil's picture

Can someone update the gold and debt ceiling comparison chart? My guess is that it will point to a buying opportunity.

Tue, 12/27/2011 - 11:44 | 2013580 Clint Liquor
Clint Liquor's picture

When you are running a yearly deficit of 10% GDP and your outstanding debt is already 100% of GDP, then debt ceilings mean nothing.

It's like math or something.

Tue, 12/27/2011 - 11:46 | 2013594 tarsubil
tarsubil's picture

LOL, they should start giving the debt ceiling a name instead of a number. Light ceiling, ridiculous ceiling, ludicrous ceiling, then plaid.

Tue, 12/27/2011 - 11:49 | 2013606 djsmps
djsmps's picture

or something cute, like "Cuddles".

Tue, 12/27/2011 - 11:51 | 2013614 Dr. Engali
Dr. Engali's picture

Peaches

Tue, 12/27/2011 - 12:03 | 2013651 tarsubil
tarsubil's picture

Okay, now we are being constructive.

20 tril - ridiculous

25 tril - ludicrous

35 tril - plaid

50 tril - cuddles

100 tril - peaches

Tue, 12/27/2011 - 12:20 | 2013727 Libertarian777
Libertarian777's picture

correction...100 trillion - zimbabwelous

Tue, 12/27/2011 - 13:51 | 2014046 natty light
natty light's picture

Gono in 60 seconds.

Tue, 12/27/2011 - 12:02 | 2013660 HurricaneSeason
HurricaneSeason's picture

I prefer colors. I'd say we're at chartreuse, but hey, don't worry. We're working overtime on it.

Wed, 12/28/2011 - 08:16 | 2015633 ForTheWorld
ForTheWorld's picture

Darth Helmet: "How many assholes do we got on this ship anyways?!"
Crew: "Sir!"
Darth Helmet: "Oh great, I'm surrounded by assholes!"

Somewhat fitting given the current situation.

Tue, 12/27/2011 - 11:44 | 2013585 dick cheneys ghost
dick cheneys ghost's picture

costs a lot of coin to run a POLICE STATE..........

Tue, 12/27/2011 - 11:54 | 2013625 Dr. Engali
Dr. Engali's picture

You mean paper......confetti. It's remarkable the crap people will take to help protect the bankers. Bankers to police...we will give you these little sheets of green paper if you will watch our backs while we loot the country.

Tue, 12/27/2011 - 11:51 | 2013616 Catullus
Catullus's picture

That'll get them to October. Just in time for the election cycle. That way an protest to debt ceiling increases will be met with apocalyptic bulvations during the presidential debates. "they're trying to turn back the clock" bullshit.

Long hyperbolic bullshit.

Tue, 12/27/2011 - 11:54 | 2013627 f16hoser
f16hoser's picture

Is Christine Lagarde giving-out 1.2 Trillion Dollar BJ's?

 

 

 

Tue, 12/27/2011 - 12:03 | 2013661 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

There is no sex in the Champagne Room

Tue, 12/27/2011 - 11:55 | 2013630 mirac
mirac's picture

Should be good for a bond downgrade...

Tue, 12/27/2011 - 11:59 | 2013645 lolmao500
lolmao500's picture

SP, Moody and Fitch are too pussies for a downgrade.

Tue, 12/27/2011 - 12:01 | 2013652 swissaustrian
swissaustrian's picture

So it will be EU austerity vs another US debt increase.

You judge who is doing the right step...

Tue, 12/27/2011 - 12:01 | 2013653 lolmao500
lolmao500's picture

Also, this means that in a few days, the US debt ceiling will be raised from $15.194 trillion to $16.394 trillion.

Which will last till january-february 2013 if they don't bail out banks or start a war with Iran (which they will).

Tue, 12/27/2011 - 12:05 | 2013671 loveyajimbo
loveyajimbo's picture

What was that saying about riding a psycotic horse into a burning barn... ??

 

Note to self:  This may not end well.

Tue, 12/27/2011 - 12:08 | 2013682 holdbuysell
holdbuysell's picture

When do the hoi polloi wake up and say "enough"?

Tue, 12/27/2011 - 12:11 | 2013693 pvzh
pvzh's picture

Why do not they set the debt limit to infinity already and forget this circus altogether?

Tue, 12/27/2011 - 12:19 | 2013725 Dr. Engali
Dr. Engali's picture

The market should determine the debt ceiling. If somebody is willing to buy the crap then let them. It's better than masking it over with printing.

Tue, 12/27/2011 - 12:11 | 2013694 jesusonline
jesusonline's picture

This piece of news has "US credit rating downgrade in 2012" written all over it.

Tue, 12/27/2011 - 12:21 | 2013729 ThirdEye
ThirdEye's picture

It's OK, They will form a cost-cutting super-duper committee.

Tue, 12/27/2011 - 12:24 | 2013741 Jlmadyson
Jlmadyson's picture

Decent chance it is gone by October. The real October surprise.

Tue, 12/27/2011 - 12:30 | 2013759 sbenard
sbenard's picture

And this is why I am NOT hopeful!

Calamity is certainty!

Tue, 12/27/2011 - 12:29 | 2013763 sbenard
sbenard's picture

Debt downgrade dead ahead!

Tue, 12/27/2011 - 12:42 | 2013813 Dadburnitpa
Dadburnitpa's picture

The world has gone mad.  Everything is pretend.  No truth, just fake bullshit.  Zero leadership demonstrated anywhere.  Pathetic.

Tue, 12/27/2011 - 12:48 | 2013830 Jlmadyson
Jlmadyson's picture

This is true, but time is a B and they are running out of it very quickly. They can run on for a long time but sooner or later....

Tue, 12/27/2011 - 13:04 | 2013879 PapSmear
PapSmear's picture

 

I wish we could go back to the good old days, when the car was just in W's ditch.  Barry is driving us off the cliff at 120 mph.  Barry can't break the cycle. 

President Obama has always said his father died in a late-night, one-car accident, after leaving a bar and colliding with a gum tree.

Tue, 12/27/2011 - 13:18 | 2013930 Snakeeyes
Snakeeyes's picture

Obama To Ask For Increase in Debt Ceiling of $1.2 Trillion And No End In Sight

http://confoundedinterest.wordpress.com/

Tue, 12/27/2011 - 13:55 | 2014044 AC_Doctor
AC_Doctor's picture

Doc,  great blog site.  Email info@zerohedge.com to see if the Tyler's will get you set up as a contributor. 

I will take one of the best viewing seats, on the edge of the presipice, as I enjoy watching the ass-sniffing jackals drive right over the edge and plummet like Wiley Coyote.

prec·i·pice  Noun: A very steep rock face or cliff, typically a tall one.   Synonyms: abyss - cliff - chasm - gulf
Tue, 12/27/2011 - 13:34 | 2013992 Mark123
Mark123's picture

I feel like a kid watching his parents go deeply in debt to pay for vacations and fancy clothes.  Mum and Dad sitting at the dinner table talking about how they increased their Line of Credit and what they are going to spend it on. 

 

So depressing.

Tue, 12/27/2011 - 14:59 | 2014254 g speed
g speed's picture

what the fuck are these people thinking -- I mean its all of um--every one is a nut case --there has to be a somethin in the bottled water( thats what they all drink)? the citizen is not playing the game anymore-there will be no recovery to use to pay off this debt. Complete and total assholes-- when the last student loan check before graduation clears, and the 99week check for unemployment clears, and the Regan earned income tax check clears and the tax rebate check clears its a new game-- no more free money for stuff--then its on to the state/county/city govt service sector-- IOUs on payday, govt debt takes a holiday like the Italian "defered payment option" --  where the hell is the up tick to pay for this debt-- what the fuck are these people thinking.

Tue, 12/27/2011 - 15:00 | 2014257 non_anon
non_anon's picture

WW3 should be announced any day now

Tue, 12/27/2011 - 15:53 | 2014419 DutchR
DutchR's picture

Is this the concept of a game show?

Tue, 12/27/2011 - 17:56 | 2014776 Panafrican Funk...
Panafrican Funktron Robot's picture

If you think about it, US citizens are really the easiest people to steal from, so may as well continue devaluing the US dollar.  Path of least resistance.  Anbody else requires either force of arms or at the very least a lot of arm twisting and bribery.  The American people can literally be "had for a song".

http://www.youtube.com/watch?v=auF-H8ke8PM

For those too young to know:

http://idioms.thefreedictionary.com/for+a+song

Tue, 12/27/2011 - 18:35 | 2014859 DanDaley
DanDaley's picture

Obama's coke habit is getting out of hand.

Tue, 12/27/2011 - 20:27 | 2015065 Money 4 Nothing
Money 4 Nothing's picture

Koch, spell it right.

Tue, 12/27/2011 - 22:53 | 2015227 HungrySeagull
HungrySeagull's picture

At this rate we will be twenty trillion in debt by election day.

Are you fucking kidding me?! What happened to the carefully cooked up 14 trillion political theater?

Might as well direct the Treasury to print a check for every US Citizen in the amount of 1 Million dollars and sit back and watch the economy roar.

 

What was that old movie about a flower shop? It had a potted plant that fed on blood. Nothing else.

Do NOT follow this link or you will be banned from the site!