The White House will send the request to Congress on Dec. 30, the day the debt is projected to rise to within $100 billion of the $15.194 trillion limit, the Treasury official told reporters today on condition of anonymity.
Congress will be notified under the terms of a deal to raise the limit worked out on Aug. 2 after a more than two-month standoff between the administration and Republican lawmakers that was followed by a cut in the U.S. debt rating by Standard & Poor’s. The Budget Control Act of 2011 gives Congress 15 days to pass a joint resolution disapproving the increase in the limit. The president can veto such a measure.
Our debt per taxpayer is going up one dollar every 40 minutes. That’s Thirty six dollars a day, $13,140 per year.
Who did NOT KNOW this was going to happen? Last time we went through this Obama lied, Reid lied, Pelosi lied. All said we’d “get spending under control.”
Not one, not one of them has even thought about getting spending under control. As a matter of fact it has gotten worse, because we KNOW it has to be controlled and it isn’t being done.
Obama, Reid, Schumer, Pelosi and the rest of the insider trading crowd are impeding steps to control spending. We cannot continue on this way. Hard steps MUST be taken to curb this insanity.
And in three months after this one there will be another, and another, and another debt ceiling.
And today, while Mr. Obama is in Hawaii spending millions of our tax dollars, he will be appointing more Communist czars to his cabinet during the recess. He has pushed all of us to our very limit.
There has been no budget since BO has been president. How do we know how much he is really spending? The continuing resolution for 2 months (Jan.-Feb 2012) is reported to be $1 trillion. Simple math says we are spending $6 trillion a year (not $3.5 trillion reported by the media).
That means we are borrowing over $3 trillion a year, not the $1.5 trillion reported by the media.
Why aren’t the republicans demanding a budget? Where is the accountability?
Cloward and Piven and Alinsky must be very proud. We are very close to the end.
Shut it down. Here comes Lucy again to pull the football.
Hey Republicans…just one more time we promise…one more that’s all…If you don’t we will be forced by you to let police and firemen lose their jobs…old people will be forced by you to eat cat food…come on Boehner come kick the football!
Shut it down or remove the debt limit and push the pedal to the metal and go straight over the cliff. Let it all go to hell in a hand basket and all the takers can feel the pain of a truly broken society that they help create. Those of us who are smart enough to know better will still be smart enough to keep ourselves whole while we watch the takers starve and gladly defend our property while the takers stalk like zombies.
Nice thing is you won’t have to have a head shot to stop them.
This man has got to go in 2012. That is my New Year’s Resolution for 2012 – to do everything I can to have Obama Elected out of office. Whoever wins the GOP Nomination – with the exception of Ron Paul, I vow I will work on their campaign.
HEY HO OBAMA MUST GO!!!!!!!!!!!