Tuesday, September 21, 2021
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Is Everyone Happy Now?

I, certainly, am not.

A decent writeup on what the debt ceiling actually IS…and its history…can be found here but it doesn’t take a rocket scientist to get the general idea.

A cap on what we can owe, as a nation, seemed like a good idea once; moving the cap, NOT based on revenue and GDP but rather on the political aspirations of those we entrusted with our checkbook, is where we went wrong. And, as of Monday morning on May 16, 2011, we’ve just topped our self-imposed $14.294 trillion debt ceiling… yet once again. Read that a second time:

We’ve just topped our self-imposed $14.294 trillion debt ceiling.

The U.S. government is expected to hit the $14.294 trillion debt ceiling Monday, setting in motion an uncertain, 11-week political scramble to avoid a default.

The Treasury Department plans to announce Monday it will stop issuing and reinvesting government securities in certain government pension plans, part of a series of steps designed to delay a default until Aug. 2.

The Treasury’s moves buy time for the White House and congressional leaders to reach a deficit-reduction agreement that could clear the way for enough lawmakers to vote to raise the amount of money Congress allows the nation to borrow.

Gene Sperling, director of the National Economic Council, said reaching the debt ceiling “should be a warning bell to the political system that it’s time to get serious about preserving our full faith and credit.” The Obama administration says a default would tip the U.S. back into a financial crisis.

And, in this mess, who gets punished first? Anyone? Why, the States of course:

Geithner, who has already suspended a program that helps state and local government manage their finances, will begin to borrow from retirement funds for federal workers. The measure won’t have an impact on retirees because the Treasury is legally required to reimburse the program.

Your President believes the only solution to our debt crisis is to borrow more. His Treasurer agrees…to the tune of 2 freaking trillion dollars. The real travesty with Geithner lies in his nearly orgasmic idea of routinely diddling with America by the trillions while our allegedly fiscally conservative GOP wrings its hands, hoping for a couple electoral scraps in exchange for letting these two clowns ()Obama & Geithner) keep DOING this to us.

So, here we are. All those people so willing to continue sucking off the Government teat while the rest of us pay for it should be happy. Of course, given this costs them nothing, I doubt they’re even aware…or, at best they just don’t give a rip-it ain’t their concern.

I can assure you of one thing, though: if the debt ceiling goes up under Boehner’s watch, there’s going to be a whole lot more hell to pay than the $2 trillion being called for. A lot more hell.

[lead image courtesy Freedom’s Phoenix, story image via Theodore’s World]

haystackhttp://unwashedphilosopher@gmail.com
There's not much to say... I come from a long line of Appalachian folk that landed in America long before flipping off the King was even a twinkle in the eyes of our founding fathers. We have been Carpenters and coal miners... Soldiers & Sailors and pig farmers and Sunday morning circuit-riding preachers. Hell, I'm told we have even been fairly decent bootleggers too.

8 COMMENTS

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8 COMMENTS

  1. If my very young grandchildren actually understood the economic hell that this bunch is tying around their necks like a huge anchor on their future, that would be one of them in the picture to this piece, haystack. If they knew how to make the gesture and understood what it meant. Things keep going this way on both sides of the aisle, they’ll know it soon enough.

    As to your doubts about those who live off the government teat, you’re right– they absolutely DON’T know or care, because they never had to worry about it. They don’t know or care who pays for the food stamps, the gov. insurance, the earned income credit, and all the rest of the thousands of freebies and handouts that are killing us. It just shows up in their mailbox or their bank account like magic every month. Until it doesn’t…..

  2. I don’t trust the federal government on anything at this point. They’ve already done many things that are unconstitutional, doubt they worry about paying back pensions. You’re talking about one of the most corrupt, and Leftist controlled administrations in the history of this nation.

    Fiscal insanity, but with a purpose…

  3. Great post & perfect graphic! Could easily be any of my 4 granddaughters, and unfortunately, the eldest would know what it means. Couple points, yeah, why should you care a bit if you don’t pay income taxes to begin with (or even get a ‘refund’ without tax payment) and second, if the person who Tweets as NationalDebt is counting right, we’ve overshot the limit. Tweet says we’re at 14,308,285,181,650.10; my cipherin’ isn’t great, but 14, 3 something is bigger than 14, 2 something. Another demonstration of the administration’s great respect for the law? Cheers & thanks!

  4. So, federal pension funds are being raided…just federal for now. My question is – how many USDA Diversity outreach employees named Shirley Sherrod who got a $13million payoff from USDA are being furloughed until the debt crisis is over? How many EPA inspectors out there in the field (literally) looking for ‘farm dust’ are being furloughed? How many of the 864 federal judges are being furloughed (yes, that’s right, the people, 305 million of us, only have 535 representatives, but there are 864 federal judges) How many people sitting on the hundreds of boards and commissions and agencies of the federal government are still clogging up the streets around Pennsylvania Avenue?

  1. If my very young grandchildren actually understood the economic hell that this bunch is tying around their necks like a huge anchor on their future, that would be one of them in the picture to this piece, haystack. If they knew how to make the gesture and understood what it meant. Things keep going this way on both sides of the aisle, they’ll know it soon enough.

    As to your doubts about those who live off the government teat, you’re right– they absolutely DON’T know or care, because they never had to worry about it. They don’t know or care who pays for the food stamps, the gov. insurance, the earned income credit, and all the rest of the thousands of freebies and handouts that are killing us. It just shows up in their mailbox or their bank account like magic every month. Until it doesn’t…..

  2. I don’t trust the federal government on anything at this point. They’ve already done many things that are unconstitutional, doubt they worry about paying back pensions. You’re talking about one of the most corrupt, and Leftist controlled administrations in the history of this nation.

    Fiscal insanity, but with a purpose…

  3. Great post & perfect graphic! Could easily be any of my 4 granddaughters, and unfortunately, the eldest would know what it means. Couple points, yeah, why should you care a bit if you don’t pay income taxes to begin with (or even get a ‘refund’ without tax payment) and second, if the person who Tweets as NationalDebt is counting right, we’ve overshot the limit. Tweet says we’re at 14,308,285,181,650.10; my cipherin’ isn’t great, but 14, 3 something is bigger than 14, 2 something. Another demonstration of the administration’s great respect for the law? Cheers & thanks!

  4. So, federal pension funds are being raided…just federal for now. My question is – how many USDA Diversity outreach employees named Shirley Sherrod who got a $13million payoff from USDA are being furloughed until the debt crisis is over? How many EPA inspectors out there in the field (literally) looking for ‘farm dust’ are being furloughed? How many of the 864 federal judges are being furloughed (yes, that’s right, the people, 305 million of us, only have 535 representatives, but there are 864 federal judges) How many people sitting on the hundreds of boards and commissions and agencies of the federal government are still clogging up the streets around Pennsylvania Avenue?

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