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Post by Dazed&Confused on Tue May 17, 2011 5:34 am

U.S. Treasury Secretary Timothy F. Geithner on Monday urged lawmakers to take “timely action to increase the debt limit in order to protect the full faith and credit of the United States and avoid catastrophic economic consequences for citizens.” (Saul Loeb, AFP/Getty Images / May 16, 2011)

By Jim Puzzanghera, Los Angeles Times

May 16, 2011, 8:37 p.m.
Reporting from Washington—
With the federal government hitting its $14.3-trillion debt limit, Treasury officials have started a complex fiscal juggling act to postpone the date when the government can no longer pay its bills.

But those accounting tricks, such as tapping two federal employees pension funds for loans, would buy only 11 more weeks for the White House and lawmakers to increase the debt ceiling. more below


Reference: http://www.latimes.com/business/la-fi-debt-ceiling-20110517,0,5038135.story

Dazed&Confused
Dazed&Confused
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Post by Dazed&Confused on Tue May 17, 2011 5:43 am

Oh, I forgot to mention, on the backs of middle class the coffers will be raided. American's once again, will pay the price, they will raid another government fund, 2 Federal Pension funds. I only wish these Pension Funds were those of the Congress and White House Staff and Appointees, but of course, it will be on the middle class American's, the secretaries, maintenance, drivers, clerical...never think for one moment they would raid there own funds and ruin the lives of their great-great-great grandchildren.

I honestly believe the Republican would rather ruin this country, than see Obama in office for another 4 years, those greedy b-stards
Dazed&Confused
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Post by Dazed&Confused on Tue May 17, 2011 6:06 am

So it started in 2008 the

Banks defaulted due to housing crisis (which we have just double dipped into again).

Feds bail them out, and other countries around the world.

Million lose their jobs.

Fast forward 2010-2011

More lies from our government

Wall Street making record profits

# of Americans out of work, I gonna put the real number at about 30 million minus 1 million

Once again, we hit the debt ceiling and America can't pay its bills without raiding Federal Pension Funds. I wonder why they don't raid social security, or the funding for unemployment, since we don't even exist any longer.

States can't pay their bills and want to raid the unemployment fund.

Cities can't pay their bills but to hell with them, just increase property tax on the house you can't afford anymore.

I can't pay my bills

but

Wall Street and those Almighty unAmerican Oil companies are making record profits.

Last, but not least China is telling us to "get our financial house in order," okay that, China, okay that...

This is so horrible, I don't think I will pay my bills just in case something
BAD happens.

Dazed

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