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Geithner Tells Congress
U.S. Reaches Debt Limit

Bloomberg News, by Kasia Klimasinska

Original Article

Posted By:NorthernDog, 12/31/2012 9:22:51 PM

Treasury Secretary Timothy F. Geithner told Congress that the U.S. hit its statutory debt limit, necessitating emergency steps announced last week as a way to keep funding the government and avoid default. Geithner said he had issued a “debt issuance suspension period” for the Civil Service Retirement and Disability Fund, effective today and to last until Feb. 28, 2013. The letter said the Treasury was taking similar action for the Postal Service Retiree Health Benefits Fund. “Federal retirees and employees will be unaffected by these actions,” according to Geithner’s letter. It said the funds “will be made whole”

Comments:
This is no way to run a railroad.

      


Post Reply  

Reply 1 - Posted by: VAPMAN, 12/31/2012 9:28:55 PM     (No. 9092341)

In other words the U.S government is broke again and needs your money.

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Reply 2 - Posted by: GreatGreyhounds, 12/31/2012 9:29:40 PM     (No. 9092343)

The problem is that hey have been running the government just like Amtrak.

And we know how well that´s working out...

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R-G1
  
R-VAR_AD


 
Reply 3 - Posted by: stablemoney, 12/31/2012 9:51:18 PM     (No. 9092370)

Well Timmy and Obama, when you hit your credit limit, you have to pay down some debt to open your credit lines back up. At the casinos, they say you´re done.

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Reply 4 - Posted by: Scribelus, 12/31/2012 10:09:18 PM     (No. 9092393)

Just another day at the Ministry of Revenge and Retribution.

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Reply 5 - Posted by: Calico Al, 12/31/2012 10:22:08 PM     (No. 9092405)

Park Air Force 1 and keep Moochelle at home making lunch for the kids.

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Reply 6 - Posted by: Ecclesiastes, 12/31/2012 11:17:11 PM     (No. 9092474)

I want us over the cliff, no increases to the debt ceiling.

I want them to just stop changing everything. It´s nothing but distraction to no result.


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Reply 7 - Posted by: uno, 12/31/2012 11:23:01 PM     (No. 9092485)

Hey thanks a pant load little Timmy Tax Cheat!
What´s yer next big announcement...rain is wet?


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Reply 8 - Posted by: bogeegolf, 12/31/2012 11:27:06 PM     (No. 9092491)

Not fiscal cliff 2. I hate sequals.

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Reply 9 - Posted by: KTWO, 12/31/2012 11:43:20 PM     (No. 9092510)

Sure glad to hear that they will continue to pay themselves first no matter what.

Others who are owed money will wait.



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Reply 10 - Posted by: DaBigGuy, 1/1/2013 3:34:25 AM     (No. 9092627)

Then stop spending money and use the savings to pay down the debt. Duh.

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Reply 11 - Posted by: bumbleshorts, 1/1/2013 7:33:19 AM     (No. 9092724)

Since fdr, the federal reserve has been paid, in accordance with their contract, only in gold. Ask for an audit of America´s gold reserves. You will not get one. On a side note, if you want a gold standard you have to have gold. The federal reserve demands payment, and they do not accept American dollars in payment, they absolutely know that American dollars are fiat currency...no real value. Something of real value must be given to the federal reserve. The federal reserve has been bidding it´s time and losing profits with their 0% interest policy.

Be afraid, very afraid. The federal government has been stealing state land for years under the guise of national parks, environmental issues and national security. Isn´t it amazing how many endangered specis live on top of oil fields, valuable minerals and prime timber land. The federal government now owns the mortgages on most of the property.

No federal pensions paid, no social security payments paid, no medical insurance reimbursements paid, no food stamps, no (un)earned income tax refunds, no federal reimbursements to states for federaly mandated programs...unless the federal reserve gets their danegeld.

If the federal reserve says "give us ownership of all federaly controlled property", how long would America be able to hold out? Go ahead, put it to a vote...and by the way, disarm Americans so the federal reserve won´t have any trouble with malcontents.




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Reply 12 - Posted by: franq, 1/1/2013 9:46:00 AM     (No. 9092910)

Spend all you want, we´ll print more.

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B-G1


 

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