May 16, 2011 /

Crashing The (debt) Ceiling Today!

Today is d-day, as in debt: 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 […]

Today is d-day, as in debt:

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.

We are now in unprecedented territory, but that won’t stop the GOP from playing games with the entire worlds financial future. Even more ironic is how this same GOP had no problem raising the debt limit every single year that Bush was in office. When they said they “want Obama to fail”, they meant by doing anything possible to affect his job and this country. Hopefully the Democrats can seize message control on this and let everyone know that this is the Republicans playing politics at the cost of our financial security. If you still don’t believe that, then ask why so many Republicans, including Boehner and Cantor, voted on a budget that adds to the debt just a few weeks ago.

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