Senate Approves $1.2 Trillion Debt Li...

Senate Approves $1.2 Trillion Debt Limit Rise

There are 19 comments on the www.nytimes.com story from Jan 27, 2012, titled Senate Approves $1.2 Trillion Debt Limit Rise. In it, www.nytimes.com reports that:

The Senate voted on Thursday to allow a further increase in the federal debt limit , permitting President Obama to borrow $1.2 trillion more to operate a government that spent about 55 percent more than it collected in revenue last year.

Join the discussion below, or Read more at www.nytimes.com.

“Open your eyes”

Since: Sep 09

Central Florida

#1 Jan 27, 2012
Ahhh yes, more borrowing from the Federal Reserve and the Wall Street banks with interest applied. We presently pay $0.40 for every $1 borrowed in interest. My question is why?

The constitution states that the Congress is to issue the countries money supply in the form of coin or credit. This is not what we have right now. We have a Congress that borrows the money at interest from private banks.

This shows how completely inept or elected officials are in regards to money and who has control over the money supply. The quote from Mayer Ansler Rothchild keeps ringing in my head, "Permit me to control and nations money supply and I care not who makes it's laws." His son Nathan said after the Napoleonic Wars, "Who controls the British money supply controls the British Empire and I control the money."

What do those 2 quotes mean? They mean that no matter who is in charge in the elected government and whatever laws they make, the elected government must go to the bank to get the money to pay for their programs. Want unemployment benefits, borrowed at interest, want to start and fight a war, borrowed at interest, want to expand the countries infrastructure, borrowed at interest. Every program and every expenditure is borrowed at interest and we the tax payers are left picking up the bill.
liza

Mount Clare, WV

#2 Jan 27, 2012
"Its a new morning in America"! Wake up, before
its too late! After this last debt rise, you
may have seen, The death of the country! No
use crying when it Can Not be fix...You have
allowed HIM to do what hes done and place the blame
on Bush.....Well, now tell me how and what this
man will do in 4 more yrs. to pay off this debt!
If he stays, he borrows more and walk away to a
sinking ship...No one can pay it off and don't look
for the rich, Obama has taken it and give it to you. And you didn't have a clue as to what to
do, except, spend! He succeeded in "dumming down"
all of you, and no one can FIX that.
Bob Bank

Nha Trang, Vietnam

#3 Jan 27, 2012
Dr. Bill_mr! revenake again;)
Bob Bank

Nha Trang, Vietnam

#4 Jan 27, 2012
liza wrote:
"Its a new morning in America"! Wake up, before
its too late! After this last debt rise, you
may have seen, The death of the country! No
use crying when it Can Not be fix...You have
allowed HIM to do what hes done and place the blame
on Bush.....Well, now tell me how and what this
man will do in 4 more yrs. to pay off this debt!
If he stays, he borrows more and walk away to a
sinking ship...No one can pay it off and don't look
for the rich, Obama has taken it and give it to you. And you didn't have a clue as to what to
do, except, spend! He succeeded in "dumming down"
all of you, and no one can FIX that.
tooolate! ;) cbs.com/earlyshow ;-000h, abc.com/gm
Justin

Richmond, VA

#5 Jan 27, 2012
Wow, that more money than George Bush was borrowing, wazzup with that my brother?

“Proud To Be An American”

Since: Apr 07

Location hidden

#6 Jan 27, 2012
It's an obamanation.

“It's a Brand New Day”

Since: Feb 06

New Rochelle

#7 Jan 27, 2012
JohnInLa wrote:
It's an obamanation.
Actually, it is a Louisianobmation.

Louisiana is # 6 on the GREAT WELFARE SUCKING STATES.

http://martincantor.com/files/FederalbudgetAn...

We, the functioning states support you, each and every shrimper, oiler, or bartender gets $4,232. more than you send into the Federal government.
That's $ 19,065,000,000 for your vampire-ridden state.
If Louisianna sunk, my Federal tax bill would go down by about 5%.

In other words, you are the problem, and I'm your DADDY.
NDAA Unconstitutional

United States

#8 Jan 27, 2012
Upon bama's Inauguration the national debt was
$10,626,877,048,913

3 YEARS later

The National debt is $15,281,865,000,000+++++

The debt ceiling is now 16.4 TRILLION.

Any questions?
CHECK SIX

North Port, FL

#9 Jan 27, 2012
Obama wants to cash a check.

Obama walks into a bank to cash a check. As he approaches the teller, he says, "Good morning Ma'am, could you please cash this check for me?"

Cashier: "It would be my pleasure sir. Could you please show me your ID?"

Obama: "Truthfully, I did not bring my ID with me as I didn't think there was any need to. I am President Barrack Obama, the president of the United States of America !!!"

Cashier: "Yes sir, I know who you appear to be, but with all the regulations and monitoring of the banks because of impostors and forgers plus the requirements of the Dodd/Frank legislation, etc., I must insist on seeing ID."

Obama: "Just ask anyone here at the bank who I am and they will tell you. Everybody knows who I am."

Cashier: "I am sorry sir, but these are the bank rules and I must follow them."

Obama: "I am urging you, please, to cash this check.

Cashier: Look sir, this is what we can do: One day Tiger Woods came into the bank without an ID. To prove he was Tiger Woods, he pulled out his putter and made a beautiful shot across the bank into a cup. With that shot we knew him to be Tiger Woods and cashed his check.

Another time, Andre Agassi came in without ID. He pulled out his tennis racquet and made a fabulous shot whereas the tennis ball landed in my cup. With that shot we cashed his check.

So, what can you do to prove you are President of the United States ?

Obama stood there thinking and thinking. He finally said; "Honestly my mind is a total blank....there is nothing that comes to my mind. I can't think of a single thing. I have absolutely no idea what to do.

Cashier: "Will that be large or small bills, Mr.

“It's a Brand New Day”

Since: Feb 06

New Rochelle

#10 Jan 27, 2012
NDAA Unconstitutional wrote:
Upon bama's Inauguration the national debt was
$10,626,877,048,913
3 YEARS later
The National debt is $15,281,865,000,000+++++
The debt ceiling is now 16.4 TRILLION.
Any questions?
If you voted for GW Bush, and/or Reagan, who ran up the debt that Obama is carrying, and especially Bush, who left the economic mess hat caused most of th borrowing during President Obama's 1st term; Than you areguilty of causig theis debt. I wish you would assume my share.

Any questions?
Justin

Richmond, VA

#11 Jan 27, 2012
Mr_Bill wrote:
<quoted text>
Actually, it is a Louisianobmation.
Louisiana is # 6 on the GREAT WELFARE SUCKING STATES.
http://martincantor.com/files/FederalbudgetAn...
We, the functioning states support you, each and every shrimper, oiler, or bartender gets $4,232. more than you send into the Federal government.
That's $ 19,065,000,000 for your vampire-ridden state.
If Louisianna sunk, my Federal tax bill would go down by about 5%.
In other words, you are the problem, and I'm your DADDY.
When your refer to "wellfare suckers" in Louisiana; please tell me that's not just a code word for "blacks". You've always seemed sensible in the past.
NDAA Unconstitutional

United States

#12 Jan 27, 2012
Mr_Bill wrote:
<quoted text>
If you voted for GW Bush, and/or Reagan, who ran up the debt that Obama is carrying, and especially Bush, who left the economic mess hat caused most of th borrowing during President Obama's 1st term; Than you areguilty of causig theis debt. I wish you would assume my share.
Any questions?
Didn't vote for either one.

This is bamas economy no one elses.

“It's a Brand New Day”

Since: Feb 06

New Rochelle

#13 Jan 27, 2012
Justin wrote:
<quoted text>
When your refer to "wellfare suckers" in Louisiana; please tell me that's not just a code word for "blacks". You've always seemed sensible in the past.
No color breakdown. Every singlee person in LA is on Federal welfare, the entire state, white, brown, black, yellow, red, green, purple aera llr being subsidized by the sares who suport the whole country.

The worst six states for total state support welfare are:
Alaska, New Mexico, Mississippi, Virginia, No. Dakota, Louisiana.

The six most giving, supportive states are: NJ, CT, NV, NH, MN, Il.

So, if you are in Virginia, your DADDY is New Hampshire.

arthur Swenson

Speculator, NY

#14 Jan 27, 2012
The heck with the debate and evil obama and bad news sit back and watch a free movie from Cheney Films http://youtu.be/0ppCMc0rjhY
Questioner

Menard, TX

#15 Jan 27, 2012
The solution is simple, pay down the debt. How is simple, take in more than you spend and apply the surplus to pay down the debt. A solution is politically impossible. New tax revenue, through higher rates or expanding the base is opposed by, mostly, Republicans and spending reductions are opposed by, mostly, Democrats. Bitch all you like, but your side is against solving the problem. Some of you will say increase taxes, others will say cut spending. Practically doing either by itself would likely collapse the economy.

It is not as if there is no proposal to deal with the debt (see the link):

https://docs.google.com/viewer...
NDAA Unconstitutional

United States

#16 Jan 27, 2012
Questioner wrote:
The solution is simple, pay down the debt. How is simple, take in more than you spend and apply the surplus to pay down the debt. A solution is politically impossible. New tax revenue, through higher rates or expanding the base is opposed by, mostly, Republicans and spending reductions are opposed by, mostly, Democrats. Bitch all you like, but your side is against solving the problem. Some of you will say increase taxes, others will say cut spending. Practically doing either by itself would likely collapse the economy.
It is not as if there is no proposal to deal with the debt (see the link):
https://docs.google.com/viewer...
Or the congress can order US notes be printed and pay off the federal reserve with the US notes. No more interest will be paid to the privately ownd federal reserve. Congress has the authority under the Constitution to do so.
Questioner

Menard, TX

#17 Jan 27, 2012
NDAA Unconstitutional wrote:
<quoted text>
Or the congress can order US notes be printed and pay off the federal reserve with the US notes. No more interest will be paid to the privately ownd federal reserve. Congress has the authority under the Constitution to do so.
So what would the impact be, here in the US and in the world, if the currency is devalued? Will the dollar remain the reserve currency, or will it be supplante by the Euro or Yuan? What will replace the T-Bill as the 'safe' investment for world finance. Will US banks shift headquarters and capital to Switzerland, Britian or Germany?
It worked for Argentina, will probally work for Greece, but will it work here?
Morgan

Arvada, CO

#18 Jan 28, 2012
You guys are out of conTROLL!
abby

Katy, TX

#19 Jan 28, 2012
Kahoki wrote:
Ahhh yes, more borrowing from the Federal Reserve and the Wall Street banks with interest applied. We presently pay $0.40 for every $1 borrowed in interest. My question is why?
The constitution states that the Congress is to issue the countries money supply in the form of coin or credit. This is not what we have right now. We have a Congress that borrows the money at interest from private banks.
This shows how completely inept or elected officials are in regards to money and who has control over the money supply. The quote from Mayer Ansler Rothchild keeps ringing in my head, "Permit me to control and nations money supply and I care not who makes it's laws." His son Nathan said after the Napoleonic Wars, "Who controls the British money supply controls the British Empire and I control the money."
What do those 2 quotes mean? They mean that no matter who is in charge in the elected government and whatever laws they make, the elected government must go to the bank to get the money to pay for their programs. Want unemployment benefits, borrowed at interest, want to start and fight a war, borrowed at interest, want to expand the countries infrastructure, borrowed at interest. Every program and every expenditure is borrowed at interest and we the tax payers are left picking up the bill.
This is what is called stupid. Open up the pipeline job that will create many jobs, create an out let for the low priced natural gas. and also help pay down the deficit. Lower the the pay and expense accounts of the President and Congress. Put a limit on the profits of corporations , close the taxloop holes. tax the money put in overseas account. tax the American products that are made overseas. leave the welfare, medicaid, medicare, social security and the military as is. start at the top not at the bottom.

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