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> Debt Ceiling Not Rsaised And Deadline Passes
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Patch 
Posted: 19-May-2011, 02:24 PM
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http://online.wsj.com/article/SB1000142405...3217175964.html

The Obama administration has no plan B in place if Congress doesn't raise the debt ceiling, an administration official said Wednesday, suggesting that absent a vote to raise the limit there is little the U.S. can do to repair the damage of a possible default.

"There really is no alternative to raising the debt limit," a senior Obama administration official said in a briefing with reporters. "There is no plan that can preserve our creditworthiness" should the political system fail, said the official, who spoke on .

This is what lack of experience gets!

So far the evil monster has not appeared and if spending is curtailed it will not appear. For now the govt is using accounting tricks that I would like to use on my taxes.

A search of US debt ceiling will glean much information

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Dogshirt 
Posted: 19-May-2011, 11:50 PM
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And yet the sky did not fall and the earth did not quit spinning. What a crock o'shite the Dims dish out. I hope they all choke gasping over the fact that they are , not just wrong, but FORKING wrong. And stupid to boot! We can only wish they were too stupid to breed, but they have proven those hopes false. More is the pity!


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Patch 
Posted: 25-May-2011, 01:55 PM
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Still no calamity and now Harry Reid has publicly softened his stance on the terms of raising the debt ceiling! Who would have thought it. They are starving for money and in my opinion should be kept on that austere diet for quite some time yet. If the fed supplies the funds it will become public knowledge through leaks and that could end the fed, another good thing. The fed has sprung a number of leaks and has been unable to plug them.

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Patch 
Posted: 31-May-2011, 08:03 PM
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Still no terrible calamityy has struck us.

Though we passed the crisis point, it now appears to have be moved to some time in August. It would appear that possibly nothing will happen, even then. Politicians are nortorious liars as we have observed in the past!!

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