Monday, April 4, 2011

U.S. To Reach Debt Limit By May 16: Geithner

The United States will hit the legal limit on its ability to borrow no later than May 16, Treasury Secretary Timothy Geithner said on Monday, ramping up the pressure on Congress to act to avoid a default.
Previously, the Treasury had warned that the country could hit the $14.294 trillion statutory debt limit between April 15 and May 31.
In a letter to U.S. Senate Majority Leader Harry Reid, Geithner said that while the projections could change, the Obama administration does not believe they could change in a way that would give Congress more time to raise the debt ceiling.

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  1. So, while all this lunacy is about to unfold at the top; the chartered banks are systematically kicking the legs out from under every man, woman, and child in the country by trying every devious trick in the book to guarantee defaults,etc. with reckless impunity. There is something evil afoot here, and it isn`t happening by mere coincidence. Call it Illuminati or the Elite or whatever-it`s a well designed and structured endgame to be sure.

  2. I have already written my Congressman and told him to vote no on raising the debt ceiling . Naturally they always ignore the will of the people, so you can bet your last dime they will raise it, bringing us one step closer to complete collapse.

    As I write this, I can hear the fireworks from Disneyland. I wonder what it will be like when the place finally closes up for good...

  3. The “2” parties or ‘left” and “right” wings of the national political game show create these scares for party political reasons, a bit of product differentiation is needed from time to time .
    After a bit of economic doomsday hysterics, drama and tightrope walking about the necessity for more Austerity for working people in order to help out the ruling class ,the necessary compromises ,a bit of a nip and tuck of a few billion here or there will be made and the annual Trillion + deficit spending will proceed as planned.

    After all there was and is a fundamental underlying unity between both these left and right wings of American politics and bipartisan support for the Patriot acts semi monarchial rule and the political coup over treasury to socialize the past losses and provide ongoing bailout money for the financial sector of insolvent ,bankrupt Ponzi America.

    Wars for empire “defence” the ‘war on Terror” will still be financed as usual so Americans can sleep soundly Ben and Timmie Goldman Stach JP morgan and the other banksters have full conrol of the printing press in order to provide credit supply for the elite.

    So no worries its just a bid of political posing ,noise and fireworks for the 2 ring puppet show circus.

  4. why have a limit at all. does congress even have the authority to decide on a debt they have the authority to send us to war...authority over the issue of
    funny they say stuff like, the government will pay for it...just who is the government and where do they get money under that old school piece of paper called the constitution. are we still using that piece of paper as a guide anymore


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