Headlines U.S. Hits Debt Limit After Senators Put Off Raising Ceiling

voiceofreason

Seeker of Truth
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Washington Post

The federal government reached its $7.4 trillion debt ceiling yesterday, forcing Treasury Secretary John W. Snow to delay contributing to one of the federal employees' pension systems to avoid running out of cash and possibly defaulting on government debt.

The situation will probably be temporary, as it has in the past. Congressional leaders said that when they return for a lame-duck session after the election, they will raise the debt ceiling to allow the government to borrow the money it needs to pay its bills. At that point, any overdue contributions to the pension fund would be paid, with interest.

Snow has pleaded with Congress since Aug. 2 to raise the debt limit, but Senate Republican leaders -- whose aides said they were worried about the possible political backlash -- adjourned for the campaign this week without acting on Snow's request. The Treasury secretary repeated his plea yesterday in a letter to Senate Majority Leader Bill Frist (R-Tenn.), appealing to his "commitment to maintaining the full faith and credit of the U.S. government."
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Holy Shit!

So, it IS a problem to continue to spend recklessly outside of the budget.

Hmmmm, someone should let George know...
 

RageAgainst

Chaotic Neutral
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Who will really pay for the war ? I won't even go into the fact that it was illegal. But think about the costs, who will pay for it and who won't.

This year's budget had a 470 billion$ deficit. The government pays for the war, but doesn't make money in return. Private corporations are the ones who make the huge profits, with the contracts they get from the Defense. But who's gonna pay the debt ? Certainly not the corporations. The tax payers are gonna pay for that war while Bush cuts in everything.

Welcome in the America of George W. Bush, A powerful country that justifies its insane military budgets by fighting spectacular wars, generating huge profits for some and huge costs for most.
 

skylinec

Somewhere in the Between
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voiceofreason said:
Washington Post

The federal government reached its $7.4 trillion debt ceiling yesterday, forcing Treasury Secretary John W. Snow to delay contributing to one of the federal employees' pension systems to avoid running out of cash and possibly defaulting on government debt.

The situation will probably be temporary, as it has in the past. Congressional leaders said that when they return for a lame-duck session after the election, they will raise the debt ceiling to allow the government to borrow the money it needs to pay its bills. At that point, any overdue contributions to the pension fund would be paid, with interest.

Snow has pleaded with Congress since Aug. 2 to raise the debt limit, but Senate Republican leaders -- whose aides said they were worried about the possible political backlash -- adjourned for the campaign this week without acting on Snow's request. The Treasury secretary repeated his plea yesterday in a letter to Senate Majority Leader Bill Frist (R-Tenn.), appealing to his "commitment to maintaining the full faith and credit of the U.S. government."
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Holy Shit!

So, it IS a problem to continue to spend reckless outside of the budget.

Hmmmm, someone should let George know...
dude i have to say something i think you should be a mod for The Issues cause you post here a hell of alot just my two cents
 

DanGeo23

Resident Conservative
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die.. no.. I don't make the decision on which person becomes a moderator... but I respect the decisions made by those that do... but I am pretty sure that your name won't be in the hat the next time the MODs pick whom to promote... and were I allowed to vote I would vote "no" .. big suprise.. right..

there may however be an opening at your local paper... they need people to copy and paste AP and Gannett stories to thier local pages.. you seem extremely qualified for that.. and you may put me down as a reference...
 

Jung

???
Premium
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you two would make a cute couple. although, that would bring up a whole other issue i suppose.
 

morelos

lexicon incognito
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dangeo23 said:
die.. no.. I don't make the decision on which person becomes a moderator...

do you realize the kind of causality this statement implies?

here: you would only die if you were the one making the decision on which person becomes a moderator, AND if voiceofreason were picked. this means you'd have to (a) be the person in charge and (b) choose voiceofreason as a mod, which you have clearly stated would not happen with your "i would vote no" comment.

republicans.. empty rhetoric designed to catch people's attention...
 

swizeguy

How dare you!?
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woo im a independent!
umm yeah... sorry just thought id say it.. ;)

EDIT:
It does not surprize me that they are running out of money fast. the government is spending money faster then a spoilt kid that just got a credit card.
It does not surprize me one bit that they are starting to feel a problem with that. You can only spend so much. But now its time for them to quit whining about it and instead of trying to raise the budgit again they should just try to figure out a way to cut back on things that are unimportant like the dumbasses salaries! all they do is sit in chairs and debate all day.. hell i'll do that for pennies on the dollar! lol
 

ReiMeishin

Dreaming to live
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See? This is what I've been talking about all the time. The US economy is going to buckle under its own debt unless something is done about it real soon. If the US goes down, we all go down. :rip: