Senate Demorats vote to raise U.S. debt ceiling — again

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Congratulations, my fellow Americans!

Already, the U.S. national debt has exceeded our Gross Domestic Product.

Now, your splendiferous elected Democratic representatives in the United States Senate just voted to raise America’s debt ceiling to $16.4 trillion!
Yesterday, in a simple 52 vote majority all of it along party lines, the Senate failed to reject a bid to stop the debt ceiling hike. This means America now has $16.4 trillion in debt capacity as of this morning, January 27, 2012.
Writing for ZeroHedge, Tyler Durden notes that:
“since roughly $100 billion was plundered from Pension Funds in the past month, we will have about $15.4 trillion in debt by next Monday…. The question then is how long will the $1 trillion in debt capacity last: at $125 billion/month it won’t be enough to carry the US past the election without another massive debt ceiling spectacle.”

Way to go, Demorats! Bankrupt Greece and the Eurozone, here we come! Wheeeeee!!!!!!!!!!!!!!!!

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0 responses to “Senate Demorats vote to raise U.S. debt ceiling — again

  1. Erect a firewall between the commercial banks and the investment gambling banks. In other words reinstate Glass Steagall, globally this time. FDR did it and things weren’t as tight then as they are now, so he managed to get through with the oligarchs’ system still in place, but with a fixed exchange rate between nations. This time, the system is bereft of liquidity so we have no choice but to go back to Article 1 Section 8 of the US Constitution and have our Congress start uttering credit. This would be for refloating the bankrupt states, and financing infrastructure platform projects that will advance civilzation and put all the millions of unemployed back to work, and allow for the lost youth generation to be trained, much as FDR did. JFK followed suit with NASA and our nation became very prosperous and the economy, the human economy was on the rise.
    Anything else will lead to the extinction of our species on this planet, and since the LORD has so much more of his word to fulfill I say bring on the New Heaven and the New Earth, and leave these dismal oligarch’s to bit the dust. Reprise: Onward and upward…………………………..

  2. From last time this happened… not that things have gotten any better.


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