US to hit borrowing ceiling at year-end: Treasury

[Trinnity]

US to hit borrowing ceiling at year-end: Treasury (http://www.france24.com/en/20121031-us-hit-borrowing-ceiling-year-end-treasury)

The United States will hit its statutory borrowing limit near the end of 2012, just as a new Congress gears up to do battle over the country's huge debt burden and fiscal deficits. The country's current debt is around $16.2 trillion, and continued borrowing needs to finance the budget shortfall will send the government past the fixed $16.39 trillion sometime in the final days of the year.
The limit will be struck between the November 6 presidential and congressional elections and the time when the new Congress is sworn in in early January.
'

It's a spending problem.


http://www.aletheiagroup.org/wp-content/uploads/2012/06/Obama_Spending_Czar_o.jpg

[Cigar]

Here's an idea; how about all the Republican Conservatives affected by Sandy ... Re-Built-It themselves.

That should save a lot of money.

[Trinnity]

http://binaryapi.ap.org/fe1d93940efe4789859a7e2db5d2917c/460x.jpg

Spend it forward

Or for the lefties, "foward"

https://encrypted-tbn2.gstatic.com/images?q=tbn:ANd9GcRtVrFJbjr_yx18Tvyi5-ffMpsxErnTxd148Spa0IhZdBKJAAm0aQ

http://sphotos-a.xx.fbcdn.net/hphotos-ash3/c80.0.403.403/p403x403/560728_435750993138784_1132582488_n.jpg

:rofl:

[Cigar]

Well one thing for sure, we ain't going backwards !

[Trinnity]

Forward as a communist meme:


New Obama slogan has long ties to Marxism, socialism

The Obama campaign apparently didn't look backwards into history when selecting its new campaign slogan, "Forward" — a word with a long and rich association with European Marxism.

Many Communist and radical publications and entities throughout the 19th and 20th centuries had the name "Forward!" or its foreign cognates. Wikipedia has an entire section called "Forward (generic name of socialist publications)."

"The name Forward carries a special meaning in socialist political terminology. It has been frequently used as a name for socialist, communist and other left-wing newspapers and publications," the online encyclopedia explains.

The slogan "Forward!" reflected the conviction of European Marxists and radicals that their movements reflected the march of history, which would move forward past capitalism and into socialism and communism.


Read more: New Obama slogan has long ties to Marxism, socialism - Washington Times (http://www.washingtontimes.com/blog/inside-politics/2012/apr/30/new-obama-slogan-has-long-ties-marxism-socialism/#ixzz2AyYc3WEW) http://www.washingtontimes.com/blog/inside-politics/2012/apr/30/new-obama-slogan-has-long-ties-marxism-socialism/#ixzz2AyYc3WEW




Now, back to the topic. What's really scary is the $5 trillion in new debt under the Obama admin, is leading us to Taxmageddon in 2013. Thanks to the Presidebt.


The Specter of Taxmageddon Rises (http://blog.heritage.org/2012/10/31/morning-bell-the-specter-of-taxmageddon-rises/)



Families with an average income of $70,662: tax increase of $4,138
Baby boomers with an average income of $95,099: tax increase of $4,223
Low-income workers with an average income of $24,757: tax increase of $1,207
Millennials with an average income of $23,917: tax increase of $1,099
Retirees with an average income of $42,553: tax increase of $857



It's the spending, and $5 TRILLION in new debt under this administration has led us to this.

All the cute troll posts in the world can't change that reality.

[shaarona]

Forward as a communist meme:



Now, back to the topic. What's really scary is the $5 trillion in new debt under the Obama admin, is leading us to Taxmageddon in 2013. Thanks to the Presidebt.



It's the spending, and $5 TRILLION in new debt under this administration has led us to this.

All the cute troll posts in the world can't change that reality.

The debt ceiling has been raised about 84 times since 1900.. 17 times under Reagan if I remember correctly.

[Trinnity]

So it's a spending problem. We knew that.

[shaarona]

So it's a spending problem. We knew that.

Our colleagues at PolitiFact New Jersey last week looked at a similar claim, that every president has raised the debt ceiling (http://www.politifact.com/new-jersey/statements/2011/jul/21/richard-codey/new-jersey-sen-richard-codey-claims-every-presiden/). They found that was Mostly True. Only President Harry S. Truman did not.

Here, we are looking at Obama's claim that, "President Reagan did it 18 times. George W. Bush did it seven times."

http://www.politifact.com/truth-o-meter/statements/2011/jul/26/barack-obama/obama-says-reagan-raised-debt-ceiling-18-times-geo/

[coolwalker]

Well one thing for sure, we ain't going backwards !

You're right there, we took a turn to the Left. That's even worse.