debt ceiling

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Open Thread: Debt Ceiling or Credit Limit and Other Nonsense

  • Posted on: 1 August 2011
  • By: Roxy

I got a letter from my credit card company the other day ... it said:

Congratulations! We have increased your credit limit to $XX!  

Apparently they thought increasing my spending limit was a good thing -- the CONGRATULATIONS! part was heavily emphasized (see below).

CONGRATULATIONS!

They didn't tell me that I could only spend the increase on DingDongs and that I had to curtial my spending at Old Navy. No, the letter simply said I could now spend more money.

Saturday Morning Open Thread, Meta-Deficit Debt Ceiling Edition

  • Posted on: 30 July 2011
  • By: GreyHawk

The ongoing game of charade in DC is continuing apace, with what appears to be the umpteenth act in a never-ending saga of "kabuki theater in a Potemkin village" over raising the debt ceiling.

The GOP has decided to use this as a tri-blade tool to finish the job of gutting the economy in their efforts to blame the collapse upon the Obama Administration, in spite of the facts & evidence that this whole fiasco began (and accelerated) under the previous Administration with the help of a GOP majority in both houses of Congress.

Unfortunately for them, the video of their efforts to avoid precisely what they're doing now exists - Think Progress posted about it.

Now we just need people to share it widely, and shout down those who are arguing about "compromise" - there needs to be a clean bill, no strings, and not for the short term.

Then the other hypocrisies can be dealt with.

Let's take our nation back and return control of it to the masses.

 

Sections: 

Sen. Sanders' angry Americans: What if they knew about the corporate tax holiday?!

  • Posted on: 29 July 2011
  • By: luaptifer

I'd planned to talk about the new evidence for election hacking during the 2004 Ohio vote but will, for the moment, defer to the discussion of that topic in the Jonaothon Turley Blog post, Dead Men Do Tell Tales (Of Rigged Elections).

Instead, I want to let the ever-so-sensible Senator Bernie Sanders describe in his ever so rational way about how angry Americans are, and why. 

First,  though, I want to be sure that anyone who's missed it, understands what seems to be among the most blatantly outrageous parts of the debt ceiling deal being discussed on TOP OF the insane demands of tea party gangsters.

Congressional Criminal Conspiracy! Defaulting when you don't need to is a crime

  • Posted on: 27 July 2011
  • By: MichaelCollins

If we defaulted on our debt when we were perfectly capable of paying it, we would be be prosecuted for fraud. But when Congress does it, they call it politics.a

The crazies in the United States House of Representatives would have you believe it were so. They say fix that budget before we'll raise the debt ceiling. If we don't get our fix, they announce, there's no deal. We'll just default until things get straightened out. (Image: George Romero)

Let's see what would happen to you or me. We are unable to pay our bills, unless we tap a special line of credit that we've used in the past, one that has never failed us. We'll have to raise some money and cut some expenses too.

We're tired of paying bills and just want to stop for a while. We file for bankruptcy following all of the required procedures. The minute we file, we're granted an automatic stay on our debt. We are now protected, no bills to pay.