Senate quietly approves $500B increase in borrowing authority The action came under an unusual legislative procedure spelled out under the August agreement to raise the U.S. debt ceiling and avoid a U.S. credit default. In a 52-45 vote, the Senate blocked an attempt by Republicans to slow down the process that will result in the $500 billion debt-ceiling increase. The increase stems from a deal between Congress and the White House, finalized last month, that spells out how the borrowing limit would be increased by $500 billion. Under the process, lawmakers in both the House and Senate must vote on a resolution of disapproval against the increase in the borrowing limit. President Barack Obama would then have to veto the resolution of disapproval, and Congress would then vote to try and override that veto. The complicated procedure, designed by Senate Minority Leader Mitch McConnell (R., Ky.), would allow an increase of the borrowing limit while allowing most Republicans to vote against such an increase. There was a twist in this scenario Thursday evening, however. Democrats held firm, rejecting the resolution of disapproval, thereby speeding the process and increasing the borrowing limit immediately.
Smoke&Moirrors. The GOP could safely vote against it knowing full well the Dems had the votes to pass it, thus saving face the their constituents while still benefitting for their own pork projects' funding. Politics 101 - today's subject, "How to screw The People!" Heck, it's just 'fiat dollars' anyways. Not like it's "real money"........
The ceiling is only raised $500 Billion. That is less than a month's spending. Watch, and learn, young padawan. They raised it $500 Billion in August, and the Goobs ran out of jeng before a full month passed. The issue is we are broke and so is Europe and China is slowing ... it's a-comin.
I would much rather shower those faithful with a rain of molten tar followed by feathers and a short trip on a rail out of town. Then head down to the District of Criminals and rinse, wash, repeat for every career politician there. It is time to bring back public humiliation.
The debt ceiling was raised yet again. A can of beans at the store went up just a little at the same time, from $1.09 to $1.17... hardly noticeable Until you calculate the percentage increase - 7 % Multiply that times 12 for the annual rate of food cost inflation. Bernanke is quietly QE-3'ing... . Adding water to a gallon of milk gives you more milk, right ? No, it gives you more bulk with less value per measure. Food, medicine, essentials for existence, gold, silver, brass and lead. Keep stacking. Payback is going to be a Mofo.
They are most definitely trying to fly this stuff under the radar.. They are going through these increases like water. Each increase is met with a reduced term life until the next one is needed. It's exponential and it will soon result in double the amount then double that etc etc.. We'll be finding ourselves doing 1T a week soon enough at which point they can call us Zimbabwe..
Obama will be requesting a significant debt ceiling raise by next month. THe spend 4-500 Billion FRNs a month with just day-to-day operations. Hell, the Department of the Treasury spends 80 Billion in a week.
Nah, Government is a bunch of spoiled BABIES crying for more pablum while getting increasingly messy at the other end - that diaper is about to burst......
DO YOU SMELLLLLLLLLLLLLLL WHAT BARACK IS COOKIN?! with my apologies to Dwayne "The Rock" Johnson and the WWWhatever.
If this is true, we need to get some new ring girls because the current ones look like old ugly white guys. I think the ring girls could do a better job at governing than the current bunch.
