Monday, May 16, 2011

Debt Ceiling news ignored by the media today

Take a look on top stories on Google news today, and you won't even find the news that the US hit the debt ceiling.
Copied from CBS News:
Treasury Secretary Timothy Geithner announced to Congress on Monday that the U.S. government had hit its $14.3 trillion debt limit, and that the federal government would now begin a "debt issuance suspension period," according to the Hill.

You should check this out, its sort of an important thing going on in the US right now, as Greece is about to default on its debt. Can the Germans bail us out too?

Geithner is asking congress to raise the debt ceiling to avoid "catastrophic economic consequences". How about this, spend less money! And congress passed a budget plan to reduce deficits but the senate won't pass it. So basically what Geithner is asking is for the destruction of the US economy anyway. Seriously do you loan someone with a gambling problem more money? No. It won't help them. You have to let them take the consequences to get better. A bank won't give you a bigger loan on your house after you are upside down will it? Why would we do these same things for the US government?
They ARE the problem. If you raise the limit, they will just spend all that money too and we will be in the same situation when that money runs out. Its just pushing that problem to someone else. How about this. Geithner, step up and be a man. Deal with the actual problem. Get spending under control with your buddies and stop crying for more money like a spoiled child. Don't push these problems on to our children and grandchildren.

I just saw this comment from Geithner - that if we hit the debt ceiling it will lead to a double dip recession. For who? The rest of American is in a recession you moron! Unemployment is really about 15%, higher than what is currently reported as 9%, even reported as my Huffington. Even at 9%, its no party out here. The only people impacted by that is Washington.
Lets see what happened last time this occurred under Clinton... Care to guess.. Oh Balanced budgets, a booming economy, low unemployment. Yeah, I'd hate to see that again. Maybe we could get Clinton back to finish this thing off because the current void of intelligence in the White House is starting to tick American's off. Clinton could handle this while getting a quicky in the Oval office. Makes you wonder why Obama can't figure it out with his full attention.

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