Tuesday, December 27, 2011

Obama Wants His Credit Card Limit Raised: New Debt Ceiling To Be Over $16 Trillion!

President Obama needs a new credit card limit, and this one is going to be about $1.2 billion higher than the last one.

He will be asking Congress by the end of the week to increase the debt ceiling from $15.194 trillion to $16.394 trillion. Presumably, he'll phone it in from the golf course in Hawaii.

Since they're in recess until later in January, the White House expects to get the approval of Congress without a challenge.

When you look at all the money that's been squandered on a bogus stimulus to reward the president's political allies,on auto company bail outs to benefit the unions,on green energy scams that only benefited the president's campaign donors, when you look at President Obama's use of signing statements to avoid cutting spending eve when Congress mandates it, it's amazing to me that Congress doesn't redeem itself by standing up,saying no and demanding that the president do what millions of other Americans are being forced to do thanks to his mismanagement of the economy - cut spending and get expense more in line with revenues.

It's probably too much to expect him to actually take measures to grow the economy, but atleast you'd think they would stand firm on that much.


Crazy Bald Guy said...

I hope he never finds out what comes after trillion, or we'll really be in trouble.

louielouie said...

gallup came out with a false poll today talking up hussein's surge in job approval rating.
that they can do that, and only fudge a small amount, shows how deeply this country is in trouble.

UCSPanther said...

For the sake of the US, Obama needs to go.

B.Poster said...

With every amount the debt limit is raised this only allows the creditors specifically China and other foreign holders of US debt to tighten the noose even tighter around our necks. They can now wreck us, our pursuit of national defense interests, and our economy at a time and place of their choosing and there really is not a thing we can do about it. Adding debt only makes the problem worse.

In the coming decades, Russia and China will be the most powerful nations on earth. With America's massive national debt, crumbling infrastructure, worn out and technologically inferior military, and a complete lack of an industrial base there is very little America can do to change this in the next few decades. Good outcomes are still possible for our country but going into even more debt is not the right path.