Happy New Year America from Barack Obama … Turbo Tim Geithner Says US will hit $16.4 trillion debt limit? on New Year’s Eve

An early Happy News Year’s greetings from Barack Obama, according to Obama’s Treasury Secretary Turbo Tax Timmy Geithner, the United States will hit $16.4 trillion debt limit? on New Year’s Eve. Sadly, as the crystal ball drops in Time Square, NY ringing in the new year, the debt clock will be ringing in its own welcome to 2013 and $16.4 trillion. As Americans attempt to budget for 2013 and the impending fiscal cliff, Obamacare taxes and payroll taxes, Obama goes another year without a budget and more deficit spending.

The United States will reach its $16.4 trillion borrowing limit on Dec. 31 and undertake “extraordinary measures” to avoid default, the Treasury Department informed congressional leaders in a letter on Wednesday.

The notice about the debt ceiling came packaged with a stark warning from Treasury Secretary Timothy Geithner, who said the policy uncertainty stemming from the “fiscal cliff” makes it impossible for him to say with certainty how much time lawmakers have left to raise the borrowing cap.

“Given the significant uncertainty that now exists with regard to unresolved tax and spending policies for 2013, it is not possible to predict the effective duration of these measures,” Geithner wrote.

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Comments

4 Responses to “Happy New Year America from Barack Obama … Turbo Tim Geithner Says US will hit $16.4 trillion debt limit? on New Year’s Eve”

A Texas Grandfather on December 27th, 2012 6:50 pm

It is time to cut off the money to the idiot in chief.

Then the GOP needs to set up a series of bills to pay the necessary expenses of only one program at at time. This needs to be preceeded by a resoulution that allows no ammendments to any of the bills.

When the bills are passed to the Senate, they should stand their ground and reject any changes to the bill.
dennisintn on December 28th, 2012 10:03 pm

again this year, obama shows his total disrespect for the millions of americans in poverty by leaving his family in hawaii so he could come home and make a big show of trying to solve “falling off the cliff. now we will have to spend another two million or so dollars sending a.f. one back to hawaii to bring wife and children home.
dennisintn
katablog.com on December 29th, 2012 11:31 am

ah but Owebama did manage to find enough money to give Biden, Congress and Federal workers a pay raise!
Katts on December 29th, 2012 9:21 pm

Greece “Informal Work”

Be prepared Educate yourselves –

Off the books wages, cut hours, tax police

http://www.reuters.com/article/2012/12/21/us-greece-labour-idUSBRE8BK0MN20121221

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