Treasury official: Obama to ask for a debt limit hike

posted at 12:36 pm on December 27, 2011 by Tina Korbe

Oh, brother. Here we go again. We already knew this summer’s epic debt ceiling showdown didn’t matter in the end. The standoff ultimately accomplished nothing meaningful in the way of debt and deficit reduction — no balanced budget amendment, no spending caps and no substantive spending cuts or entitlement reform, thanks to the eventual failure of the Super Committee. But it did result in an increase in the debt ceiling. President Obama was satisfied with that for just a few months. Now, he plans to ask for yet another increase in the federal government’s borrowing capacity, a senior Treasury official says. Reuters reports:

The debt limit is projected to fall within $100 billion of the current cap by December 30. President Barack Obama is expected to ask for additional borrowing authority to increase the limit by $1.2 trillion. …

The debt limit currently stands at $15.194 trillion and would increase to $16.394 trillion with the request.

If you recall, this presidential call for another hike was provided for in the deal this summer. Republicans touted the two-pronged request process (a debt ceiling increase this summer and the chance to request another increase now) as a victory of sorts — as though this second request by Obama would ever be turned down. Congress can block the debt hike extension by a resolution of disapproval, but I’m not holding my breath.


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They’ll need at least that much just to take care Michelle’s vaction plans for this coming year.

tommyboy on December 27, 2011 at 12:38 PM

How much would we get by selling Obama to China and throwing in Joe Biden?

NoDonkey on December 27, 2011 at 12:39 PM

AWESOME!

I’m betting on Boehner and Cantor and McConnell wimping out as always, like I’d bet on Romney getting his butt handed to him by obama should he be the nominee.

Wimps don’t win people, so why are we tolerating them?

M_J_S on December 27, 2011 at 12:39 PM

Wow, who coulda seen that coming?
The spending addict is having withdrawal.

JimboHoffa on December 27, 2011 at 12:40 PM

monopoly money to liberals…..(and Romney)

SDarchitect on December 27, 2011 at 12:40 PM

Government spending – the only sector of our economy that reliably grows every year. Our GDP numbers would be truly awful without it – which is why GDP is now a meaningless statistic.

zmdavid on December 27, 2011 at 12:41 PM

…and Michael Moore needs to find more restaurants that deliver.

RBMN on December 27, 2011 at 12:41 PM

How much would we get by selling Obama to China and throwing in Joe Biden?

NoDonkey on December 27, 2011 at 12:39 PM

An ugly look and maybe a slap.

JimboHoffa on December 27, 2011 at 12:41 PM

How much would we get by selling Obama to China and throwing in Joe Biden?
NoDonkey on December 27, 2011 at 12:39 PM

A bowl of fried rice and a stale fortune cookie?

tommyboy on December 27, 2011 at 12:41 PM

Because it worked so well for Greece.

whatcat on December 27, 2011 at 12:41 PM

Why sure, this poor sick Republic isn’t racing down the tube fast enough so let’s get a big pole and just stuff it down the sewer.

rplat on December 27, 2011 at 12:43 PM

How long will 1.2 trillion last? I’m guessing through the election.

buckeyerich on December 27, 2011 at 12:43 PM

Cripe

Forgot about that tidbit, theyll pass it at midnight

cmsinaz on December 27, 2011 at 12:43 PM

Republicans touted the two-pronged request process (a debt ceiling increase this summer and the chance to request another increase now) as a victory of sorts — as though this second request by Obama would ever be turned down.

This is exactly the kind of “victories” that 4 years of Newt Romney would get us.

abobo on December 27, 2011 at 12:43 PM

Stop Spending money that our childrens childrens children won’t be able to pay back.

D-fusit on December 27, 2011 at 12:43 PM

Of course this will be spun as, “The do-nothing Republican Congress is purposely tanking the economy to benefit the 1%!!!”

RedRedRice on December 27, 2011 at 12:44 PM

All of these concessions that we “won” turned out to be pretty stupid and meaningless, didn’t they? The BBA vote? Yeah – that got a lot of press and really hurt the Dems when they voted it down, right? And this? Obama asks for it while everyone is enjoying their Christmas break. WINNING!

besser tot als rot on December 27, 2011 at 12:46 PM

How long will 1.2 trillion last? I’m guessing through the election.

buckeyerich on December 27, 2011 at 12:43 PM

Not if Obama has anything to say about it. He will continue asking for increased spending all year.

zmdavid on December 27, 2011 at 12:47 PM

Just say NO to new debt.

Take the bottle away from these drunken politicians…

ajacksonian on December 27, 2011 at 12:48 PM

Ummmmmmmmm…

… before we give Obowma another single $0.10, maybe everyone should read this.

President says he won’t abide by spending bill he signed

Seven Percent Solution on December 27, 2011 at 12:48 PM

Last week Obama wondered if his credit card still worked.

Today he is calling them for a limit increase.

portlandon on December 27, 2011 at 12:48 PM

The Democrats thought they got some good political mileage out of the last “debt ceiling debate”, so they can’t wait for another one. Besides, the “pass my jobs bill now” distraction and the “payroll tax cut” distraction are over. They need a distraction from Obama’s record and they need it now.

Too bad this one is going to backfire on them. Too soon. People might start to notice that all Obama is doing is running up a huge credit card in their kids’ names.

forest on December 27, 2011 at 12:49 PM

Time for China to say – No More!

Amazingoly on December 27, 2011 at 12:49 PM

Gee whiz, I’m to the point of believing with Republicans like these, who needs Democrats?

SteveInRTP on December 27, 2011 at 12:50 PM

Motherfudgebiscuits! NO, NO and NO!!!

FLconservative on December 27, 2011 at 12:51 PM

Congress is not in session, Obama’s request is ‘pro forma’, there will be no one in congress to dissent, it’s all automatic. Just like Boehner passed that last FICA holiday tax plan with ~10 people on the house floor, and did the whole legislation ballet in 90 seconds, gavel to gavel.

This is as close to a complete dictatorship with rubber stamp congress the United States has ever been. How we pull back from that ledge is beyond my imagination.

Who ya gonna call?

Skandia Recluse on December 27, 2011 at 12:51 PM

Let me guess: He’s going to ask for higher taxes to pay for it rather than cut spending…

Could that be in the running as the most obvious comment of the year?

Chip on December 27, 2011 at 12:51 PM

Can we please have our armed revolt over these people? Like NOW!

nobar on December 27, 2011 at 12:54 PM

“Welcome to another episode of …..Move…That….Decimal point!!!”

portlandon on December 27, 2011 at 12:55 PM

Congress can block the debt hike extension by a resolution of disapproval, but I’m not holding my breath.

Here’s how the debt process works now:

Treasury notifies a shortfall in funding.

Congress must vote to prevent an increase in the deb ceiling. If no vote is taken or measure fails, debt ceiling is automatically increased.

If Congress votes to not increase the debt ceiling, the President can veto the bill, and the debt ceiling automatically increases.

F*ckers.

BobMbx on December 27, 2011 at 12:55 PM

Deja vu all over again!

marinetbryant on December 27, 2011 at 12:56 PM

Say what you want, when Newt was Speaker, we had balanced budgets. The amateurs we have up there now, Boehner and McCOnnell, come up with deals like this one. Can anyone tell me how much spending went down this year, because we elected an overwhelming majority to the House? It didn’t go down, it went up, the Senate hasn’t passed a budget and the House gets deals for a pultry $10 billion over 10 years and calls it a victory.

Let’s start with new leadership in the House and the Senate and see if, by November 2012, we can earn the votes to maintain a House majority and get the majority in the Senate. We’re certainly not going to get it with the leadership that’s there now.

bflat879 on December 27, 2011 at 12:56 PM

Can we please have our armed revolt over these people? Like NOW!

nobar on December 27, 2011 at 12:54 PM

Careful, at the pace this nation is descending into the economic abyss, you could get your wish. Although, it may not be OUR armed revolt, some folks might just be in a revolting mood, in more ways than one, by summer 2012.

hawkeye54 on December 27, 2011 at 12:58 PM

Even referring to this as a debt ceiling or debt limit is laughable, but so very sad.

rjoco1 on December 27, 2011 at 12:59 PM

We didn’t get anything promised with the previous debt hike and any “fixes” have been total failures.

The debt ceiling debate is the ultimate tool to strong arm Washington into fiscal reform. Of course, everyone wants to avoid a shutdown. Republicans don’t want to be blamed (even though they will no matter what) and Democrats don’t want to risk people NOT noticing the fact that the government is closed for business.

Imagine the thought process when people wake up, go to work get groceries, spend time with their families and life continues normally while the Fed has closed doors. People might start to seriously reconsider government size when no one notices it is gone.

My prediction? We’ll get a lot of empty rhetoric resulting in another increase. Real progress won’t happen until no one buys our bonds anymore.

Flashwing on December 27, 2011 at 1:00 PM

Gee whiz, I’m to the point of believing with Republicans like these, who needs DemocratsRepublicans?

At this point who needs either party’s reps in CONgress.

hawkeye54 on December 27, 2011 at 1:00 PM

This stuff is getting really old.

Raise the debt limit to 50 quadrillion trillion billion dollars and have done with it.

Better yet, have the Federal Reserve print 17 trillion dollar notes, pay of the debt and still have a few bucks left over for one of Moochelle’s feeding frenzies.

This debt is never going to be paid off by budget cutting and tax increases, so might as well get it over with.

I wonder if $1,000 a loaf bread will taste better than what we have now?

Horace on December 27, 2011 at 1:01 PM

How much would we get by selling Obama to China and throwing in Joe Biden?

NoDonkey on December 27, 2011 at 12:39 PM
An ugly look and maybe a slap.

JimboHoffa on December 27, 2011 at 12:41 PM

Don’t they use ottomans in China?

NoDonkey on December 27, 2011 at 1:02 PM

I used to think “repeal and replace” was about Obamacare. Now, I’ve come to the realization its really about republican leadership. These guys should be publicly shamed and removed from office.

Neo-con Artist on December 27, 2011 at 1:02 PM

Cue Chris Matthews slobbering/drooling yelling about how Reublicans won’t pay the bills for crap nobody ever wanted in the first place.

Roymunson on December 27, 2011 at 1:04 PM

Are we the dumbest electorate on the planet? Oh, I forgot, 50% of our nation are takers who live off the little end of Obamas waste. The issue cofronting most of the world is simple…we spend more than we take in. HIS answer, take more from those who earn. Did that a bunch of times, no success. About time HE figured out each must contribute. Answer, spend less, invest in privat enterprise (less government), broaden the tax base through The Fair Tax (all pay), a balanced budget the law of the land. Tough? We do it every day. Our leaders are traitors, interested only in their reelection and its power. Obama is the most worst of the bunch.

StevC on December 27, 2011 at 1:07 PM

How much would we get by selling Obama to China and throwing in Joe Biden?

NoDonkey on December 27, 2011 at 12:39 PM

Zero!

FloatingRock on December 27, 2011 at 1:07 PM

The land deserves him fully.

4 more!!!

Schadenfreude on December 27, 2011 at 1:08 PM

How much would we get by selling Obama to China and throwing in Joe Biden?

NoDonkey on December 27, 2011 at 12:39 PM

Zero!

FloatingRock on December 27, 2011 at 1:07 PM

Offer accepted.

Neo-con Artist on December 27, 2011 at 1:09 PM

At what point do I throw away my wallet and buy a wheelbarrow to carry my soon-to-be-worthless cash to the grocery store?

Tim_CA on December 27, 2011 at 1:10 PM

When President Romney asks for the same, the results will be the same.

Valiant on December 27, 2011 at 1:11 PM

I’ve just reported Hot Air to AttackWatch for this obvious slander.

President Obama is doing everything he can to fight the evil, hateful, fear-mongering, racist, bigoted, imperialist, racist, greedy, racist millionaires and billionaires and their hateful corporations.

As Harry Reid correctly pointed out, millionaires do not create any jobs. Their private property (money & assets) must be confiscated for the General Will. Until they pony up and give back their ill-gotten gains, Obama must borrow more money to pay for Social Justice.

This is all the fault of right-wingers, Foxnews, the Tea Party, Bush, Cheney, the GOP, and Scott Walker.

visions on December 27, 2011 at 1:13 PM

How long will 1.2 trillion last? I’m guessing through the election.

buckeyerich on December 27, 2011 at 12:43 PM

Well ACORN has to be paid somehow doesn’t it?

BettyRuth on December 27, 2011 at 1:13 PM

“President Barack Obama is expected to ask for additional borrowing authority to increase the limit by $1.2 trillion. …”

I trust him with my money.

liberal4life on December 27, 2011 at 1:11 PM

/Bishop

Seven Percent Solution on December 27, 2011 at 1:14 PM

Maybe Ohbama and Dims will only want a 2 MONTH extension for ceiling as well? Media should be OK with that strategy.

FlaMurph on December 27, 2011 at 1:14 PM

3 words that will dominate in 2012…

Global Debt Crisis

MGardner on December 27, 2011 at 1:14 PM

At what point do I throw away my wallet and buy a wheelbarrow to carry my soon-to-be-worthless cash to the grocery store?

Tim_CA on December 27, 2011 at 1:10 PM

You can ship that worthless cash to me.

BobMbx on December 27, 2011 at 1:15 PM

Obama is a generational thief, but then so are most of the Republicans.

FloatingRock on December 27, 2011 at 1:15 PM

File Chapter 11 and tell China to suck it.

fogw on December 27, 2011 at 1:15 PM

Is there any news out there that gives anyone any hope at all? There is zero leadership on the republican side and noone inspiring running for president. Im a very optimistic person generally but I see nothing out there stopping us from going off the cliff. The only question is how fast.

ldbgcoleman on December 27, 2011 at 1:17 PM

Obozo specifically stated he would run the debt up to around $20 TRILLION back when he was proposing his budgets. So until we get to around $25 TRILLION (need to allow for overages, since afterall this is a government “budget”) I really don’t see what all the fuss is about.

He has everything under control, and if you love Him, you’ll need to get Him reelected so he can “finish the job”.

KMC1 on December 27, 2011 at 1:17 PM

File Chapter 11 and tell China to suck it.

fogw on December 27, 2011 at 1:15 PM

Like a boss!

Neo-con Artist on December 27, 2011 at 1:17 PM

If Obama wants more dough he should get a job, the creep.

Schadenfreude on December 27, 2011 at 1:17 PM

Bloodsuckers must be destroyed.

Schadenfreude on December 27, 2011 at 1:19 PM

Superb. Let’s carry on this farce and do it every month.

We’re running out of other people’s money very, very quickly. This is going to end in a clusterf*** of nuclear proportions.

CorporatePiggy on December 27, 2011 at 1:21 PM

Extra tissues to Boehner please, going to be a lot of crying in 2012

Sandybourne on December 27, 2011 at 1:21 PM

“Obama to ask for a debt limit hike”

America to ask Obama to take a hike…

hillsoftx on December 27, 2011 at 1:23 PM

BREAKING, via Bres: Sen. Ben Nelson (D-Neb.) will announce retirement today politi.co/v6HvIx

andy85719 on December 27, 2011 at 1:24 PM

“You’re doing a fine job, Mr. President” –crr6

Schadenfreude on December 27, 2011 at 1:25 PM

and think a lot of you tools thought things would change when the Republicrats took over the house in 2010, how quaint.

Your Mamma loves me on December 27, 2011 at 1:28 PM

Cloward Piven, straight up.

hoofhearted on December 27, 2011 at 1:30 PM

OT: Woah!! Obama’s approval rating surges in latest Gallup. 46 percent approval, up 3 percent. Of course, let’s keep attacking Republicans.

andy85719 on December 27, 2011 at 1:30 PM

YIKES!Every time this guy squats,he wipes his back with a Billion dollar note.As long as we’re autioning off Obama/Biden,can we throw in a Boehner or two?…what’d we get?…still nothing?…

SMACKRUNNER on December 27, 2011 at 1:31 PM

What an Audacious Clown,you have got to be kidding me!!

And what,Team Republican will get blamed,and this will
get spun by the MSM as their fault,with wall to wall
MSM op-ed pieces,and neverending Morning Joe Talk’n
Points!

canopfor on December 27, 2011 at 1:32 PM

America to ask Obama to take a hike…

hillsoftx on December 27, 2011 at 1:23 PM

America is doing nothing but asking for their drinks and snacks to be refilled while they sit on their uneducated fat @$$es watching mind numbing television.

THAT IS ALL AMERICA IS DOING AND ASKING!

GhoulAid on December 27, 2011 at 1:32 PM

O/T,Intell Alert!
================

New Hampshire State Senator Sharon Carson endorses Mitt Romney as GOP presidential candidate – @NBCNews
4 Hrs.ago

http://www.breakingnews.com/
============================

canopfor on December 27, 2011 at 1:35 PM

While enjoying an alleged 4 million dollar vacation to get over the last vacation the POTUS asks for 1.2 trillion dollars to complete and prove Cloward & Piven strategy. :(

Sandybourne on December 27, 2011 at 1:37 PM

For the love of God, I think it should me clear that THIS WAS ALREADY APPROVED IN THE MCCONELL DEAL OFFERED. CONGRESS ALREADY VOTED TO INCREASE BY 2 TRILLION, THIS IS THE SECOND HALF OF THAT DEAL

I’m saying this so people don’t get even more confused and depressed when they see the house and senate approving this. We swallowed the pain already, no reason to get all mad again.

Can.I.be.in.the.middle on December 27, 2011 at 1:37 PM

I’m not worried. I’m sure Mitch McConnell will fight to the bitter end to prevent this, and he’ll never stab the House in the face and back (and thigh and arm and neck).

SouthernGent on December 27, 2011 at 1:38 PM

“President Barack Obama is expected to ask for additional borrowing authority to increase the limit by $1.2 trillion. …”

I trust him with my money.

liberal4life on December 27, 2011 at 1:11 PM

It never was your money – Obama

Electrongod on December 27, 2011 at 1:38 PM

Seven Percent Solution on December 27, 2011 at 12:48 PM

Thanks for the link.

That will be ignored by the liberal msm as much as it will with conservatives.

The same article would be breaking news with crafted “special reports” if the POTUS was a repub.

Mimzey on December 27, 2011 at 1:39 PM

Hope and Change Politics as usual.

On steroids.

UltimateBob on December 27, 2011 at 1:40 PM

Put down the credit card and step away slowly…hands where I can see them.

twidgetnator on December 27, 2011 at 1:40 PM

Never fear, the Republicans have as much “pork” to pass out as the Dems.

RADIOONE on December 27, 2011 at 1:41 PM

O/T,New Iranian Threat!
========================

Iran’s 1st VP says if foreign sanctions are imposed on its oil exports, the flow of crude will be stopped – @Reuters
3 Hrs.ago

http://www.breakingnews.com/
============================

Iran warns could stop oil flow if sanctions -IRNA
TEHRAN | Tue Dec 27, 2011 9:29am EST
*************************************************

TEHRAN Dec 27 (Reuters) – Iran’s first vice-president warned on Tuesday that if foreign sanctions are imposed on its oil exports, the flow of crude will be stopped from the crucial Strait of Hormuz in the Gulf, the country’s official news agency reported.

“If they (the West) imposes sanctions on Iran’s oil exports, then even one drop of oil cannot flow from the Strait of Hormuz,” IRNA quoted Mohammad Reza Rahimi as saying. (Writing by Ramin Mostafavi, editing by Jane Baird)
(More..)
=========

http://www.reuters.com/article/2011/12/27/iran-oil-hormuz-idUSL6E7NR19J20111227

canopfor on December 27, 2011 at 1:42 PM

If not by now…at what point does everything become obvious?

Mimzey on December 27, 2011 at 1:42 PM

Imagine the thought process when people wake up, go to work get groceries, spend time with their families and life continues normally while the Fed has closed doors. People might start to seriously reconsider government size when no one notices it is gone.

Flashwing on December 27, 2011 at 1:00 PM

Trust me, the Fed will make double darn sure everyone will miss the government. They will make it painful. Just wait and see how easy it will be to fly if the Fed shuts down. Pure pandemonium.

Johnnyreb on December 27, 2011 at 1:43 PM

Ya know,I thought the Debt Ceiling thingy was dealt with,
so um,I guess Liberals have the Micheal Moore Syndrome,
that America is awash in cash,er,credit!

canopfor on December 27, 2011 at 1:44 PM

Your overlords are leeches, with the Leech in Chief at the top.

Schadenfreude on December 27, 2011 at 1:44 PM

We can afford it. Look at all of the employed people there are now since unemployment nosedived all the way down to 8.5%

fogw on December 27, 2011 at 1:46 PM

Your overlords are leeches, with the Leech in Chief at the top.

Schadenfreude on December 27, 2011 at 1:44 PM

I was thinking more along the lines of a huge nest of arachnids, with a big brain bug running the whole show.

It ‘s an ugly country, a bug country, a country hostile to life as we iGKKKKKK !

Nuke’em, Rico.

BobMbx on December 27, 2011 at 1:48 PM

Great. Another fight the Republicans should easily win which they will spectacularly lose.

Rational Thought on December 27, 2011 at 1:50 PM

Posted at 12:48 PM ET, 12/27/2011
Obama to ask for increase in debt ceiling
*****************************************

President Obama will ask this week for a $1.2 trillion raise in the federal borrowing limit, according to a Treasury Department official.
*********

The action would raise the country’s debt ceiling to $16.4 trillion from $15.2 trillion. News of Obama’s request was first reported by Reuters.

Lest the words “debt ceiling” spark panic over the possibility of another showdown with Congress that could bring the nation to the brink of default, fear not. The August debt deal provides for a $1.2 trillion increase that can be blocked only if Congress passes a “resolution of disapproval.”

If such a resolution were to pass, it would likely be vetoed by Obama. And any attempt by Congress to override the veto would require a two-thirds supermajority in each chamber.

On top of that, there’s the matter of timing. The August debt ceiling legislation states that any resolution of disapproval must make its way through Congress within 15 days of the president’s request.

If Obama announces his position this week, Congress would have to vote on a disapproval resolution by Jan. 12 at the earliest.

But the House isn’t scheduled to return to the Capitol until Jan. 17, and the Senate doesn’t return until Jan. 23. Aides to leadership in both chambers did not immediately respond to a request for comment on whether any disapproval votes are planned.

If Congress fails to vote on a disapproval resolution or if the resolution doesn’t pass a vote, the borrowing limit will increase as planned.

In September, the last time the federal borrowing limit was raised, the House passed a disapproval resolution on a 232-to-186 vote, but the motion was blocked in the Senate.
———————————————–

http://www.washingtonpost.com/blogs/2chambers/post/obama-to-ask-for-increase-in-debt-ceiling/2011/12/27/gIQApypjKP_blog.html

canopfor on December 27, 2011 at 1:51 PM

The Budget will never be balanced. We’re just careening along at this point to default and collapse.

Revenant on December 27, 2011 at 1:53 PM

President says he won’t abide by spending bill he signed

Seven Percent Solution on December 27, 2011 at 12:48 PM

Seven Percent solution:Exactly:)

canopfor on December 27, 2011 at 1:53 PM

BobMbx

Psst. Take the wheelbarrow – it’s going to be worth more.

Horace on December 27, 2011 at 1:54 PM

Why even bother with a debt limit (except to make “the other party” look stupid) since it always gets raised? I do not recall it ever being kept in place.

sadatoni on December 27, 2011 at 1:56 PM

If Congress fails to vote on a disapproval resolution or if the resolution doesn’t pass a vote, the borrowing limit will increase as planned. – WaPo

canopfor on December 27, 2011 at 1:51 PM

How does this not sound like a drummed up marketing plan to fool the buyers?

If Congress doesn’t vote the resolution passes.

Checks and Balances have gone the way of balanced budgets. Our founding fathers have to be turning over in their graves.

fogw on December 27, 2011 at 2:00 PM

We cannot simply spend as we please and defer the consequences.  
-President Barack Obama – February, 2009

http://www.youtube.com/watch?v=6jJvkkNmR_8&feature=youtube_gdata_player

So much for taking a scalpel to the budget. Lying SCOFAMF.

FLconservative on December 27, 2011 at 2:00 PM

Bloodsucking POS!
Let’s just increase it weekly…no, no…daily!
Then we can believe the Republican leadership, when they always tell us “We got the best deal we could get” and “We live to fight another day!’

KOOLAID2 on December 27, 2011 at 2:03 PM

nostrovia

acyl72 on December 27, 2011 at 2:05 PM

What is the purpose of a debt limit if you have no qualms whatsoever of exceeding it? All this stimulus money, green energy money etc is nothing more than maoney laundering. They are giving the money to folks that will surely launder and funnel it right back to them in the form of contributions and we are the loser. Why do we keep increasing the debt limit, just so they can buy votes with OUR money. Crooks, SOB’s or whatever you want to call them.
All this SOB talks abouit is what a terrible economy he inherited which is B/S. The economy etc only began to tank once he received the nomination, because people and businesses knew what was coming down the pike. So far they have all been correct. There is no economy ever as bad as the one someone will inherit after this SOB leaves office. Spend, go on vacation, spend, play golf, spend, attack GOP, spend, attack the Rich, spend, jump on AF1 and go make a spech, spend, play basketball, spend, ask for debt increase, spend, spend, spend, buy an election, spend, pay off people that voted for me, spend. Enough already. STOP SPENDING.

j bo on December 27, 2011 at 2:07 PM

The Budget will never be balanced. We’re just careening along at this point to default and collapse.

Revenant on December 27, 2011 at 1:53 PM

Agreed. When it comes down to it, Dems or GOP makes no difference. They both love them some spending.

In spite of all the lip service from the House GOP, I don’t believe for one moment that Washington’s spending addiction will change until we are faced with complete and imminent default and collapse of our economy and currency.

When you can stand up there like these politicians on both sides do, and say with a straight face that you “cut” spending because you did not increase spending as much as you had originally planned to increase it, then you know there is no seriousness about the budget anymore.

It would be like an alcoholic saying they had 10 drinks on Monday, 12 drinks on Tuesday, and then telling you with a straight face that they “cut” their drinking because on Wednesday they only had 13 drinks instead of 14.

gravityman on December 27, 2011 at 2:07 PM

Being an optimist, I’d like to think we could squeeze out at least a few cuts out of the next debt-ceiling fight. Hopefully we manage to do a slightly better job at negotiations this time.

WolvenOne on December 27, 2011 at 2:09 PM

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