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« Sheila Bair Answers The $6.4 Trillion Question | Main | HOT LINKS: Citizens Petition Obama For Twinkie Bailout »

Geithner: Raise Debt Limit To Infinity

"The sooner the better."

Tim Geithner with Bloomberg's Al Hunt on Friday.

There is no doubt the annual debt ceiling battle has become something of a circus sideshow, but it's also the only time the media, and the occasionally even citizens, pay attention to deficit and government spending issues.  If the debt ceiling were eliminated, the opportunity for budget discussion would disappear.

Geithner warned at the end of October that Treasury would reach the current legal limit on the federal government's debt before end of the year.  In August 2011, Congress agreed to lift the legal debt limit by $2.4 trillion, allowing the government to borrow up to $16.394 trillion.  However, as of the close of business on Thursday, the Treasury had only $154.3 billion of that $2.4 trillion in new borrowing authority left.

Last week, Harry Reid said the Senate would not hesitate to raise the ceiling to $19 trillion, even though in 2006, when the national debt was $8 trillion under Bush, Reid said it would be the worst thing we could do. 


Caught On Tape: Harry Reid's Debt Hypocrisy


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Reader Comments (6)

Treasury Secretary Geithner: Lift Debt Limit to Infinity


Source for the story.
Nov 19, 2012 at 6:56 PM | Registered CommenterDailyBail
Reid On New Debt Limit Of $19 Trillion: "We'll Get It Done"

Nov 19, 2012 at 6:56 PM | Registered CommenterDailyBail
WILLIAM BLACK: No, it’s not where we’re headed, and that’s a grave disappointment to folks who thought that—well, someone campaigned saying, "Yes, we can." And now it’s become, "Well, actually we’re not even going to try," on the prosecutorial side. Right? So, if he continues this way, it’s conceivable the Republicans will nominate someone so bad that he will be reelected, but he will destroy the effectiveness of his administration and do tremendous damage to the nation.


William Black On Democracy Now: "Fire Geithner, Holder & Bernanke And Throw The Banking Felons In Jail!"
Nov 20, 2012 at 9:51 AM | Registered CommenterDailyBail
HAIL the The City of London. Long live the queen!!! NOT. Geithner, Greenspan, and Reid are and have been feeding us to Britannia while Americans fixate and try to add meat to their wet paper thin egos while in denial of this instead of cooperating to DUMP THE FED. Remember kids, the Rothschilds founded the Mossad in England and we all remember where a bunch of them were on 9-11-2001. Also who owned the Alaska HAARP facility until recently (Maybe still. That would take real time and a court to determine by design.), and who blew up Fukushima. If you don't know, turnoff the CFRtv set and go look.

Think, and ponder the relationship between these facts. England is standing on a step stool to mug us. You guys probably have never been mugged. When being mugged, your only hope to save your life may be the expeditious use of a weapon. My Buck Ranger sent the guy running, but not before considerable cosmetic damage to myself had been wrought. Treachery is The City of London's ONLY skill. Queen lizard started with two of her sisters. The U.S. don't mean shit to queen lizard. She wants it all, as does her ugly spawn, the "Me First" brats. The CFRtv and the Associated Press are NOT your friend.
Nov 20, 2012 at 3:19 PM | Unregistered CommenterHoward T. Lewis III
Do you think we could get this woman to run over Geithner, Holder & Bernanke?

Woman runs over husband for not voting


Woman runs over husband for not voting. Believed family would suffer under 2nd Obama term.
Nov 20, 2012 at 11:21 PM | Unregistered CommenterBackgammon
Now thats funny.
Nov 20, 2012 at 11:26 PM | Unregistered CommenterSKINFLINT

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