Saturday, July 16, 2011
GOP Senators Get Cold Feet Over Standoff: ‘Maybe The Debt Ceiling Was The Wrong Place To Pick A Fight’
As Republican attempts to hold the country hostage over raising the debt ceiling look increasingly likely to end in disaster, some GOP senators appear to be getting cold feet. Sens. Lindsey Graham (R-SC) and Bob Corker (R-TN) have both indicated they are rethinking the wisdom of tying a debt ceiling increase to a drastic deficit reduction package now that the country is on the brink of economic disaster:
“Maybe the debt ceiling was the wrong place to pick a fight, as it related to trying to get our country’s house in order,” Sen. Bob Corker (R-Tenn.) said Thursday. “Maybe that was the wrong place to do it.”
Speaking from the Senate floor, Corker said Republicans demanded linking the two issues because the Senate hasn’t passed a budget in more than 800 days. “I credit both sides for that,” he said. But now, the inability of the White House and Congress to agree to a spending deal — and ensure a timely debt ceiling increase — is “helping our great nation go into decline.”
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I DON'T KNOW THIS "CORKER" GUY, BUT LINDSEY GRAHAM (RINO) WHAT A MAGGOT!!! LIKE THE FRAM COMMERCIAL
ReplyDeleteSEZ "PAY ME NOW OR PAY ME LATER"....BUT WE CAN'T! "GONE WITH THE WIND" A M F
Do we need any more "proof" there is "no" differences between parties? They should all be tried for treason!
ReplyDeleteIt's time we had our own BASTILLE DAY!!!
PS-Did you see where the FED has a new guarded complex-bunker in the Viginia country...bastards!
There has never been; nor will there ever be a bunker that cannot be breached !
ReplyDeleteMasterpiece Theater goes on.
ReplyDeleteTime to exchange more fiat dollars for gold and silver.
Continuing the bailouts for an insolvent failed capitalism , keeping the USA Ponzi economy and its dollar ,treasury bills , stock markets and property bubbles functioning is getting tough for the Fed an the US treasury without the legal cover of more authorised money printing of US government debt to avoid official default .
ReplyDeleteOnly the USAs secret kitty , the ESF fund ,is left as a last resort of cash reserves, but now any continuing cash contributions from even that kitty or interest due are not being repaid by the Fed and Treasury.
The Fed has been tapping into the cash slime on the bottom of the money barrel of last resort but can pay no interest now.
Dow much has the Treasury secretly borrowed from ESF anyway?
They do not say !
So ask no questions and you will be told no lies!
The ESF is the heart of US darkness slush fund money, its profits sourced in and for funding US criminality in the dollar hegemony system,.
From Nazi gold seizures to top secret Iran contra armament dealsand on to the CIA and its drug wars to manipulating the stock and gold markets.
The ESF began by being funded by using the profits from conficating gold in the last depression under FDR.
If you are not aware of the USAs ultimate dirty tricks slush fund , read the history and listen to the Videos at,
http://www.marketskeptics.com/2011/06/the-esf-and-its-history.html
As zero hedge reports .
http://www.zerohedge.com/article/treasury-stop-funding-its-market-manipulation-fund-delay-us-bankruptcy
“After pillaging the G Fund and Civil Service Retirement and Disability Fund (CSRDF), aka the Government retirement funds, Tim Geithner was just forced to resort to the final debt ceiling extension measure: suspending reinvestment in the Exchange Stabilization Fund, better known as the mechanism by which the Treasury manipulates the stock, bond and FX markets, often times indirectly (thank you Brian Sack and Citadel fat pipe) and on occasion with CIA assistance. What this means is that FX vol will likely hit unseen levels in the next several weeks as the Treasury's manipulative ways are strongly curtailed.”
WASHINGTON – Today, the U.S. Department of the Treasury released the following statement from Jeffrey Goldstein, Under Secretary for Domestic Finance, regarding the use of the last of the four previously announced measures available to keep our nation under the statutory debt limit, suspension of reinvestment of the Exchange Stabilization Fund.
“Today, as previously announced, the Treasury Department will suspend reinvestment of the Exchange Stabilization Fund, the last of the measures available to keep the nation under the statutory debt limit. In order to prevent a default on the nation’s obligations, Congress must enact a timely increase of the debt ceiling.”
Let us not forget that when Bush was president, Congress raised the debt ceiling at least 8 times. Suddenly, with a Dem president, the Rethugs think the debt ceiling is the devil's work.
ReplyDeleteMeanwhile, the Rethugs are still trying to gut or privatize Medicare, Medicaid and Social Security. You'd think they've stolen enough of our money, but I guess it's never enough.
Lets not forget that in Bush's last year with a Republican congress the deficit was under 200 billion and had been falling for years. Under Obama the debt has reached $1.6 trillion and has been increasing. I hope you can see the difference...
ReplyDeletelol..meanwhile congress will vote to cede power to the prez to raise the ceiling without a vote
ReplyDelete