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.

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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.

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.

f16hoser's picture

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

 

 

 

Mr Lennon Hendrix's picture

There is no sex in the Champagne Room

mirac's picture

Should be good for a bond downgrade...

lolmao500's picture

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

swissaustrian's picture

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

You judge who is doing the right step...

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).

loveyajimbo's picture

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

 

Note to self:  This may not end well.

holdbuysell's picture

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

pvzh's picture

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

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.

jesusonline's picture

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

ThirdEye's picture

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

Jlmadyson's picture

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

sbenard's picture

And this is why I am NOT hopeful!

Calamity is certainty!

sbenard's picture

Debt downgrade dead ahead!

Dadburnitpa's picture

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

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....

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.

Snakeeyes's picture

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

http://confoundedinterest.wordpress.com/

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
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.

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.

non_anon's picture

WW3 should be announced any day now

DutchR's picture

Is this the concept of a game show?

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

DanDaley's picture

Obama's coke habit is getting out of hand.

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.