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America Maxes Out Its Credit Card Again - Treasury To Raise Debt Limit By Another $1.2 Trillion On December 30


Submitted by Tyler Durden on 12/27/2011 10:22 -0500

• Consumer Confidence
• Debt Ceiling
• Gross Domestic Product

You didn't think US consumer confidence could be bought for free now did you?

• U.S. TREASURY SAYS DEBT LIMIT TO BE RAISED BY $1.2 TRILLION
• U.S. DEBT TO BE $100 BLN WITHIN LIMIT ON DEC. 30, TREASURY SAYS
• STEPS FOR INCREASING DEBT LIMIT UNDER 2011 BUDGET CONTROL ACT

And the piece de resistance that 100% debt to GDP brings:

• OBAMA ON DEC. 30 LIKELY TO ASK CONGRESS TO RAISE DEBT LIMIT

Just as we thought the circus was over if only for a few weeks. Also, this means that in a few days, the US debt ceiling will be raised from $15.194 trillion to $16.394 trillion. As a reminder, US GDP was just revised down to $15.176 trillion.
Average: 5

[ThomasMannfanny]

well on the road to recovery...

[BoBoMasterDesign]

HAHA, All I can do is laugh, are we surprised, we are freakin broke!!!

[TheLucyLee]

We've become a laughing stock to the rest of the world, every few months we have to raise the debt ceiling.

[bushomeworkk]

It's all dollar positive.

USD 80.21 +0.40

[13spebampiliece]

your telling me all the paper that people used at Christmas didnt get us all out of DEBT

[actifadepette]

Just go ahead raise the friggin thing $15 trillion and be done with it! For awhile.....

Whats a few more 000000's?

[Heliosprime]

This sorta reminds me of my x. Saving money was 'Hording' and credit was 'Good', when I asked her why? She said with credit, you can get your limit raised and then you have more money! At the time I was letting her manage everything, as I worked my ass off. Shortly after that revelation from her, I got sick on the job and went home early. And had a chance to get the mail for the first time in three years because she always got home early.

Found 6 or 7 account bills , in my name, that I had not a clue about. After trying to talk about it, I found a lawyer and filed a few days later.

Money is to be spent and not saved! Credit is Good!


Phooey!

[Jalieteplalry]

dam dogman you could of been rich if she would of just got you one more credit card ... set for life

[dumadegg]

dam dogman you could of been rich if she would of just got you one more credit card ... set for life

That is what blind love and trust did. That has been broken and lost!

10 years later and I still get pissed....

But I posted because of the theme the thread was taking, There are people in and out of government that think that way..

Girrrrrr.

But a dam good lesson learned , that a bunch do not.