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result #56839 - U.S. DEBT CEILING AND AN ELEVATOR...

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U.S. DEBT CEILING AND AN ELEVATOR...


[+] serious ballot by Truthseeker013
created Thu Oct 28, 04
BOTH are going UP...

I'm late with this info, so it's probably circulating among those of you who give a damn about such, but I'm posting it nonetheless.

About three weeks ago, Treasury Secretary John Snow, Mister Bush's hand-picked puppet for the job after Paul O'Neill proved to be intelligent, sent a letter to Congress, asking that the national debt ceiling be raised (?) to $7.4 TRILLION, stating that all legal means to stay below the ceiling will be exhausted by mid-November. Now, I MAY be raising a big stink over nothing, but the Administration keeps saying that our economy is growing robustly. To my eyes, this is NOT a mark of robustness. This is a NEON SIGN saying "HELP! We're about to land face-first in it!" Am I right or am I wrong? Is this, along with the spectres of unemployment, poverty and the mismanagement of the war (I WISH to God that I COULD forget it, for anyone who groaned at my mention of it!), a sign that Mister Bush et al just don't have the requisite clue as to what's going on, or am I the person who's trailing on the play?

No, Mister Bush is running low and slow 9
Yes, Truthseeker, YOU'RE running on empty 0

Ballot #56839: has 9 total votes.
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COMMENTS:
(Bracing for the storm of hits)

by Truthseeker013 on Thu Oct 28, 04 7:12pm [+]

According to figures I saw, it is going to cost every average American family 3,500 dollars each.

I hope you're all saving up!
by Steelhamster on Thu Oct 28, 04 7:24pm [+]

Our debt is nothing compared to most of Europe but it's still a big drain on the economy. It wouldn't be an issue if we abandoned fiat money.
by thc2883 on Thu Oct 28, 04 7:57pm [+]

The UK has a surplus?? We only have a common market with the EU, not a federal bank.
by Steelhamster on Thu Oct 28, 04 8:59pm [+]

The data I have shows the UK with about the same debt/GDP as the USA but that was a few years ago so we're probably worse off than you now. This data has our debt at 63% of GDP and many Western European nations are over 100%. You should not confuse deficit/surplus with debt. We had a surplus a few years ago but we still had trillions in debt and I'm sure the UK still has hundreds of billions in debt. Your Bank of England is similar to our Federal Reserve; it screws everyone for the benefit of the bankers.
by thc2883 on Fri Oct 29, 04 11:28am [+]

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