Have we hit the debt ceiling again

@Fatcat44 (1142)
United States
December 30, 2011 6:55pm CST
I watched the news today, after being away from it for a few days, and what do I hear mentioned. We have hit the debt ceiling again. The news is that Obama can't ask the congress for an increase again because they are out on recess. I thought the debt ceiling was high enough that we would not reach it for a long while. I guess not with the way this administration is wasting money.
2 people like this
7 responses
@Mashnn (4505)
31 Dec 11
When Americans will learn to spend wisely that when things will start going. Otherwise, for now, it just a wastage of time and resources. Most American live with the policy of "Buy what I want than what I need".
1 person likes this
@Fatcat44 (1142)
• United States
31 Dec 11
This is the government spending, not the individual. We have a bunch of progressive, liberal/communists in power that want to bankrupt the country.
1 person likes this
@Taskr36 (13928)
• United States
2 Jan 12
It's both Fatcat. The government is merely a reflection of the people. If people were spending wisely than the foreclosure crisis would have never happened and the banks wouldn't have been asking for a bailout. You and I may be spending wisely, but most Americans are not. The only question is whether people are imitating the government, or vice versa.
1 person likes this
• United States
31 Dec 11
There is no debt ceiling as long as hard working Americans are going to work, they pay the taxes that Congress misspends. Nobama's loose leaf playing with money is tantamount to a child who plays Monopoly and has every player land on his hotel covered acquisition. We need to get that guy out off office and onto the streets!
1 person likes this
@marie2052 (3697)
• United States
3 Jan 12
Doesn't it sound a bit like this. Mommy can I have a new toy. No honey Mommy can't afford one today. We have to wait til payday. Child goes to mommys purse finds her wallet and pulls out the every day usable ATM card. Kid comes back and said mommy take this card and go get some money and get my new toy. Kind of sounds like the Prez huh????
@dragon54u (31051)
• United States
31 Dec 11
The government will keep spending and raising the limit until we stop them. The people aren't angry enough yet, not enough of us are homeless and hungry yet. Raising the debt ceiling is like giving a spend-a-holic more and more credit until they can't possibly pay it back--that's almost where we are now, the point of no return. I don't know how we'll get out of this mess but the people have to rise up and object through the voting booth, peaceful demonstrations and non-violent civil disobedience. If we don't take action soon to rein in this insanity the nation will be lost and we'll find ourselves essentially under foreign control as our lenders call in their debts.
1 person likes this
@andy77e (5171)
• United States
31 Dec 11
Oh no no no.... The mid-summer compromise increased the debt limit by only $900 BILLION dollars. That sounds like a ton, and back in 2008, that would have lasted at least 3 years. But right now the US Budget Deficit is $1.6 TRILLION dollars. In other words, a $900 Billion dollar increase in debt will last approximately...... 6 months. Guess what.... that was August. We're 3 days away from January. Times up friend.... we've spent the $900 Billion already. Let me put it another way. For the government to increase the debt ceiling enough to last us until 2015... They would have to increase the debt ceiling by $3 TRILLION. Here's the kicker...... Remember that Obama Health care law passed in 2009? Most of the provisions for that law, do not kick in until ... 2014! And those provisions include tons of extra spending. So really, unless health care is repealed, medicare cut, social security cut, and pretty much everything else cut too.... That $1.6 Trillion deficit.... is the low end. It's going up from there.
1 person likes this
@peavey (15107)
• United States
31 Dec 11
It seems like a silly game to me. So we've reached the debt ceiling and need to increase it. It's like increasing the limit on our credit cards ourselves. We spend too much, so we increase the limit so we can keep on spending. Doesn't make sense at all.
1 person likes this
@Miloque (130)
• Philippines
1 Mar 12
And here i thought recess is just for elementary and high school kids out to have lunch.
@marie2052 (3697)
• United States
3 Jan 12
The exact words I heard from a radio were that the Prez said Congress is still out on their holiday but that he would wait for them to come back next week and ask for another trillion. And I also heard they are planning a Riviera trip in the near future. Woe to us tax payers!