Increased Debt- WE WIN??

[Spectrism]

So, the republicrats are happy in this raising of the debt ceiling bill.... why? Because there are no tax increases. Really?

http://www.christianpost.com/news/bo...ng-bill-53196/
The Christian Post > Politics|Mon, Aug. 01 2011 08:02 PM EDT

The compromise bill provides for an immediate increase of $400 billion dollars and allows President Obama to request another $500 billion in the next several months.
However, Congress would stop the second installment by a veto proof two-thirds margin. A further increase of $1.2 and $1.5 trillion would be available after a special committee, also known as a “super committee,” of twelve members identifies matching levels of spending cuts. The committee must complete its work by Thanksgiving of 2012 and Congress must hold an up or down vote on the recommendations by December 23 of the same year.

Huh?

So a "super committee" of select commies will be our watchdogs and gateway to another $2.7trillion debt increase on top of the $900billion just approved. Oh, I feel safe with that. Not.

Let's do some stupid numbers. Let's figure there are 230 million Amerikans over 18. Of those let's be generous and figure there are 150million paying any taxes (federal income). If we are adding, in this fine bill, another $3.6trillion of debt (400b + 500b + 1.2t + 1.5t) that works out to be $24,000 additional debt per working person.

Eric Cantor said he was happy that there were no new taxes. How does he arrive at that? Inflation is the insidious tax that steals from savers.

Boneher said he got 99% of what he wanted in this bill. Huh? Can someone splain that to me?


There are many long range repercussions to this. I am sure the minds here will come up with a few.

[Cebu_4_2]

[QUOTE]

Boneher said he got 99% of what he wanted in this bill. Huh? Can someone splain that to me?

Free booze for the next ~2 years?

[muffin]

The 900BN isn't going to last until November 12, so this is all either complete BS or just buying a few months to set up the backdrop for the next play scene. The 900 will be gone on debt rollovers before the end of 11. Unless, of course, the FED has some backdoor QEx ongoing to print money by stealth.

[Libertytree]

This debt load is unsustainable, the ponzi scheme is reaching its anticipated failure point and the dollar is worthless, it's only a short matter of time before the intentional collapse occurs. The Fed will print and print until it can print no more, then the super congress will seek out the benevolent help of the IMF or some such to restore economic prosperity to the US and the worlds economies. Yeah, it's a WAG, but then again truth is stranger than fiction.

[Joe King]

If we are adding, in this fine bill, another $3.6trillion of debt (400b + 500b + 1.2t + 1.5t) that works out to be $24,000additionaldebt per working person.

Eric Cantor said he was happy that there were no new taxes. How does he arrive at that? Inflation is the insidious tax that steals from savers

It's called extending the payments over a longer term to sell out two generations for the price of one. lol
ie extend and pretend.

[Hatha Sunahara]

[QUOTE=Cebu_4_2;441240]

Free booze for the next ~2 years?

Yes! It's like a drunk drinking more booze to get sober.

Hatha

[mick silver]

were can i sign up for some of that free paper ? is anyone allow to get it for nothing . ps i need a case of jim

[Sparky]

The 900BN isn't going to last until November 12, so this is all either complete BS or just buying a few months to set up the backdrop for the next play scene.
...

Sure it is. We have to pay back $300B to the Federal pension fund that we've been robbing since May. That leaves $600B. We borrow $4B per day, so that allows for an additional 150 days, which takes us just about to the end of the calendar year, which allows plenty of time for the super committee recommendations, and the subsequent Congressional vote. Then, the next debt ceiling hike kicks in and takes them through the 2012 election. They've calculated these numbers very carefully for political reasons, not financial ones.

[osoab]

Sure it is. We have to pay back $300B to the Federal pension fund that we've been robbing since May. That leaves $600B. We borrow $4B per day, so that allows for an additional 150 days, which takes us just about to the end of the calendar year, which allows plenty of time for the super committee recommendations, and the subsequent Congressional vote. Then, the next debt ceiling hike kicks in and takes them through the 2012 election. They've calculated these numbers very carefully for political reasons, not financial ones.

I thought that we still had to is a non-negotiable note S.S. to the tune of 90 billion for the 1st half of 2011. We also have 500 billion rolling over this month.

It could be cut very close imho.

[madfranks]

Sure it is. We have to pay back $300B to the Federal pension fund that we've been robbing since May. That leaves $600B. We borrow $4B per day, so that allows for an additional 150 days, which takes us just about to the end of the calendar year, which allows plenty of time for the super committee recommendations, and the subsequent Congressional vote. Then, the next debt ceiling hike kicks in and takes them through the 2012 election. They've calculated these numbers very carefully for political reasons, not financial ones.

What about debt rollovers?