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US debt jumps a record $328 Billion

ItAin'tFree

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U.S. debt jumped a record $328 billion on Thursday, the first day the federal government was able to borrow money under the deal President Obama and Congress sealed this week.

The debt now equals $17.075 trillion, according to figures the Treasury Department posted online on Friday.


Read more: U.S. debt jumps a record $328 billion
Follow us: @washtimes on Twitter




LOL. This is what Obama and the Dems were holding out for. Nothing they did will make it any better either, only worse. But the people that are sick of this kind of nonsense are "Stupid", "Lunatics", "hostage takers" and a host of other silly terms designed to hide the problems the government is in. LOL.
 
U.S. debt jumped a record $328 billion on Thursday, the first day the federal government was able to borrow money under the deal President Obama and Congress sealed this week.

The debt now equals $17.075 trillion, according to figures the Treasury Department posted online on Friday.


Read more: U.S. debt jumps a record $328 billion
Follow us: @washtimes on Twitter




LOL. This is what Obama and the Dems were holding out for. Nothing they did will make it any better either, only worse. But the people that are sick of this kind of nonsense are "Stupid", "Lunatics", "hostage takers" and a host of other silly terms designed to hide the problems the government is in. LOL.

The remarkable thing was the $328 billion represents money the Treasury borrowed via "extraordinary measures", to avoid hitting the debt limit.

So the Treasury borrowed $328 billion to avoid hitting the borrowing limit.

:eek:

:sinking:
 
Bah. The treasury can just print money. It doesn't borrow.
 
The remarkable thing was the $328 billion represents money the Treasury borrowed via "extraordinary measures", to avoid hitting the debt limit.

So the Treasury borrowed $328 billion to avoid hitting the borrowing limit.

:eek:

:sinking:

To some people, that makes sense? Afraid so!

Unfortunately, this was about 1/3 of the money spent, in one day, that they were alloted by the recent deal, as I understand it, and they have several more months to go. Then what?

Greetings, ocean515. :2wave:
 
We had 15 days of payments to make in one day, no duh this happened. You guys were warned that shutting down the gov't could cost taxpyers up to 700 billion and yet you said it fine. Don't blame this on Obama, the extreme-ness of it all falling on one day, and added expenses that make it even higher than it would have been, is all on the heads of Cruz and Co.
 
To some people, that makes sense? Afraid so!

Unfortunately, this was about 1/3 of the money spent, in one day, that they were alloted by the recent deal, as I understand it, and they have several more months to go. Then what?

Greetings, ocean515. :2wave:

Hi Pol.

As I understand it, the new "debt limit date" is nothing more than a date. Some of the back room bickering centered on spending increases, with the Dems not wanting any dollar amount but only a date in the future (February) when they have to revisit the limit issue.


Republicans initially sought to attach strings to the debt increase, but surrendered this week, instead settling on a bill that reopened the government and included some special earmark projects, but didn’t include any spending cuts.

Democrats insisted that the debt increase be “clean,” meaning without any strings attached. They say the debt increase only allows Mr. Obama to pay for the bills he and Congress already racked up, and that it doesn’t encourage new spending.


Read more: U.S. debt jumps a record $328 billion
Follow us: @washtimes on Twitter​


So, you're right, what happens then?
 
We had 15 days of payments to make in one day, no duh this happened. You guys were warned that shutting down the gov't could cost taxpyers up to 700 billion and yet you said it fine. Don't blame this on Obama, the extreme-ness of it all falling on one day, and added expenses that make it even higher than it would have been, is all on the heads of Cruz and Co.

LOL. Try reading the article. This was not a result of the partial shutdown, the treasury had been playing games for the last five months. That "warning" you speak of is hocus pocus by the dems to get suckers and idiots to buy into the idea that the GOP caused this. Another day, just more lies by the Dems.
 
Hi Pol.

As I understand it, the new "debt limit date" is nothing more than a date. Some of the back room bickering centered on spending increases, with the Dems not wanting any dollar amount but only a date in the future (February) when they have to revisit the limit issue.


Republicans initially sought to attach strings to the debt increase, but surrendered this week, instead settling on a bill that reopened the government and included some special earmark projects, but didn’t include any spending cuts.

Democrats insisted that the debt increase be “clean,” meaning without any strings attached. They say the debt increase only allows Mr. Obama to pay for the bills he and Congress already racked up, and that it doesn’t encourage new spending.


Read more: U.S. debt jumps a record $328 billion
Follow us: @washtimes on Twitter​


So, you're right, what happens then?

Ocean, the time periods between hitting debt ceiling limits are getting shorter and shorter, at least that's what it looks like to me. The Dems wanted over one trillion in new spending in the latest fiasco, but settled for $966 billion. And we are going to revisit that in a few months? WTH? One trillion per year used to be the norm. Are we now "going for broke?"...pun intended.
 
Ocean, the time periods between hitting debt ceiling limits are getting shorter and shorter, at least that's what it looks like to me. The Dems wanted over one trillion in new spending in the latest fiasco, but settled for $966 billion. And we are going to revisit that in a few months? WTH? One trillion per year used to be the norm. Are we now "going for broke?"...pun intended.

Not according to the left who believe that government debt doesn't matter. For those on the right who don't, we have been broke for a long time. We just haven't gotten the eviction notice yet.
 
Ocean, the time periods between hitting debt ceiling limits are getting shorter and shorter, at least that's what it looks like to me. The Dems wanted over one trillion in new spending in the latest fiasco, but settled for $966 billion. And we are going to revisit that in a few months? WTH? One trillion per year used to be the norm. Are we now "going for broke?"...pun intended.

I've been travelling a bit, so I've not been able to keep up on all the bits and pieces, but from what I've read, the Dems settled on the lower amount knowing they were only approving the spending level for a few months. Call it a trick of the wording.

They approve an annual spending level of $966 billion, but that level is only for a few months. They get the headline, and then start working on the increases they are looking for.

It would really be interesting to see some talk about jobs and the economy. Only when the tax base is increased, meaning more people are contributing via Fed income tax, will the country ever be able to address this debt cancer.

The only way that happens is via improvement in jobs and a real growing economy, not this one the President is championing that is set to grind to a halt.
 
We had 15 days of payments to make in one day, no duh this happened. You guys were warned that shutting down the gov't could cost taxpyers up to 700 billion and yet you said it fine. Don't blame this on Obama, the extreme-ness of it all falling on one day, and added expenses that make it even higher than it would have been, is all on the heads of Cruz and Co.

Bull****, this is on Obama and his handouts to future constituents. Anyone that is for this crap does not care about their children or grandchildren
 
Is it a coincidence that the only people who support or don't understand this are the people with no money in their bank account and no room left on their credit cards?
 
Bah. The treasury can just print money. It doesn't borrow.
:lamo

It can, and does BOTH. What part of "federal debt" don't you understand?
 
Bull****, this is on Obama and his handouts to future constituents. Anyone that is for this crap does not care about their children or grandchildren

No, seriously, this is what happens when you have 15 days of payments to make in one day. Did you think all those bills that came up after we hit the debt limit just ****ing went away?
 
The remarkable thing was the $328 billion represents money the Treasury borrowed via "extraordinary measures", to avoid hitting the debt limit.

So the Treasury borrowed $328 billion to avoid hitting the borrowing limit.

:eek:

:sinking:

So does that go on last year's tab or this year's tab?
 
No, seriously, this is what happens when you have 15 days of payments to make in one day. Did you think all those bills that came up after we hit the debt limit just ****ing went away?

So the federal government is on a $20billion/day bender? At that rate they will spend nearly $8 trillion this year....
 
So the federal government is on a $20billion/day bender? At that rate they will spend nearly $8 trillion this year....

edit:
Turns out I was wrong. It's not 15 days.

It was five months.
 
edit:
Turns out I was wrong. It's not 15 days.

It was five months.


I was making fun of your error. See my first post: Will this be counted against last year's deficit?
 
Bah. The treasury can just print money. It doesn't borrow.
but printing money causes inflation, and too much inflation is bad.
 
but printing money causes inflation, and too much inflation is bad.

Printing money does not cause inflation if you are printing money directly to the central bank.
 
Last edited:
Not according to the left who believe that government debt doesn't matter. For those on the right who don't, we have been broke for a long time. We just haven't gotten the eviction notice yet.

If we are so broke, why are things continuing to work? Is it because it is going to break? How long do we speculate that it is going to break before it becomes a self-proclaimed prophecy?

In my mind, "believe" is the wrong word. I know the national deficit doesn't matter. I suggest you read into how the banking sector works and the flow of money. Once you have a preliminary picture of how everything cycles through the economy, you will see that The Fed can purchase Treasury bonds indefinitely, while the Treasury can issue more bonds and print money indefinitely. Printing money is a requirement for a growing economy and is the prime reason to go to a fiat currency. You would also learn that how our fiat system works is inflationary in nature in a multitude of ways, and it has to be. By manipulating interest rates, you can manipulate the rate of money being removed from the economy.

I will say it again, the national deficit doesn't matter. The only reason why the Treasury doesn't print it's debt off is The Fed can potentially acquire more wealth by keeping their treasury bonds. The increase stream of interest from the Treasury would cease if all of that debt were to be paid off. Also, I wouldn't be surprised if The Fed can use all of those treasury bonds as an asset, and justify a loan backed by all of those bonds. Then by using that loan, The Fed can invest in whatever it wants to to accrue more wealth.

What should have you worried, is not the national deficit, but the lack of interest rates on all the Treasury Bonds. This basically means there is nothing contracting the money supply from the billions of dollars spent through our economy. This basically means that there is more and more available money in the money supply, more of which compared to having interest on that debt. Eventually enough is enough, because people inevitably are going to increase prices because there is more available money.

My point? You should be yelling at Bernanke to increase interest rates; not at congress to pay back a principle that we owe to a central bank. That doesn't make sense.
 
If we are so broke, why are things continuing to work? Is it because it is going to break? How long do we speculate that it is going to break before it becomes a self-proclaimed prophecy?

In my mind, "believe" is the wrong word. I know the national deficit doesn't matter. I suggest you read into how the banking sector works and the flow of money. Once you have a preliminary picture of how everything cycles through the economy, you will see that The Fed can purchase Treasury bonds indefinitely, while the Treasury can issue more bonds and print money indefinitely. Printing money is a requirement for a growing economy and is the prime reason to go to a fiat currency. You would also learn that how our fiat system works is inflationary in nature in a multitude of ways, and it has to be. By manipulating interest rates, you can manipulate the rate of money being removed from the economy.

I will say it again, the national deficit doesn't matter. The only reason why the Treasury doesn't print it's debt off is The Fed can potentially acquire more wealth by keeping their treasury bonds. The increase stream of interest from the Treasury would cease if all of that debt were to be paid off. Also, I wouldn't be surprised if The Fed can use all of those treasury bonds as an asset, and justify a loan backed by all of those bonds. Then by using that loan, The Fed can invest in whatever it wants to to accrue more wealth.

What should have you worried, is not the national deficit, but the lack of interest rates on all the Treasury Bonds. This basically means there is nothing contracting the money supply from the billions of dollars spent through our economy. This basically means that there is more and more available money in the money supply, more of which compared to having interest on that debt. Eventually enough is enough, because people inevitably are going to increase prices because there is more available money.

My point? You should be yelling at Bernanke to increase interest rates; not at congress to pay back a principle that we owe to a central bank. That doesn't make sense.

So it is like magic, huh? There is no limit to what the government can borrow and spend? Why not borrow enough to give every American $1 million? What you know, I'm afraid is nonsense.
 
So does that go on last year's tab or this year's tab?

Hmmm. Good question. I suppose it will go on whichever tab makes the Dems, and the President, look better.

Seriously, the Treasury had been showing for a number of months the same debt number -

Treasury: Debt Up $0 in August; CBO: But Deficit Was $146B | CNS News


Despite this deficit spending, the Treasury reported that at the close of every single business day in August, the federal debt subject to a legal limit by Congress remained exactly $16,699,396,000,000.

That is approximately just $25 million below the legal limit on the debt that is $16,699,421,095,673.60

If the federal debt had climbed by the same $146 billion that the deficit climbed in August, it would have exceeded the legal limit by almost $146 billion.

In fact, according to the Daily Treasury Statements that the Treasury publishes at 4:00 p.m. on each business day, the debt subject to the legal limit has remained at exactly $16,699,396,000,000--or about $25 million below the legal limit--every day since May 17.With the release of the Daily Treasury Statement for Sept. 6 (which occurred at 4:00 p.m on Sept. 9), that makes 112 days that, according to the U.S. Treasury, the debt has been stuck at $16,699,396,000,000​


So, as we can see, the Obama Administration has spent far beyond the authorized limit using the Treasury Departments ability to locate money via "extraordinary measures" to do so. This means they actually hit the debt limit months ago, but the recent "crisis" was just part of the smoke and mirrors of Washington.

It's rather interesting to watch the uninformed minions on the left hurl accusations they are too brain dead to know have been fed to them via the Southern Orifice that runs through the White House and the DNC.
 
Hmmm. Good question. I suppose it will go on whichever tab makes the Dems, and the President, look better.

Seriously, the Treasury had been showing for a number of months the same debt number -

Treasury: Debt Up $0 in August; CBO: But Deficit Was $146B | CNS News


Despite this deficit spending, the Treasury reported that at the close of every single business day in August, the federal debt subject to a legal limit by Congress remained exactly $16,699,396,000,000.

That is approximately just $25 million below the legal limit on the debt that is $16,699,421,095,673.60

If the federal debt had climbed by the same $146 billion that the deficit climbed in August, it would have exceeded the legal limit by almost $146 billion.

In fact, according to the Daily Treasury Statements that the Treasury publishes at 4:00 p.m. on each business day, the debt subject to the legal limit has remained at exactly $16,699,396,000,000--or about $25 million below the legal limit--every day since May 17.With the release of the Daily Treasury Statement for Sept. 6 (which occurred at 4:00 p.m on Sept. 9), that makes 112 days that, according to the U.S. Treasury, the debt has been stuck at $16,699,396,000,000​


So, as we can see, the Obama Administration has spent far beyond the authorized limit using the Treasury Departments ability to locate money via "extraordinary measures" to do so. This means they actually hit the debt limit months ago, but the recent "crisis" was just part of the smoke and mirrors of Washington.

It's rather interesting to watch the uninformed minions on the left hurl accusations they are too brain dead to know have been fed to them via the Southern Orifice that runs through the White House and the DNC.

Hmmm...no new debt since May? That truly is amazing! I wish I could say the same! Talk about being fiscally responsible! :mrgreen:

Good morning, ocean515. :2wave:
 
We had 15 days of payments to make in one day, no duh this happened. You guys were warned that shutting down the gov't could cost taxpyers up to 700 billion and yet you said it fine. Don't blame this on Obama, the extreme-ness of it all falling on one day, and added expenses that make it even higher than it would have been, is all on the heads of Cruz and Co.

You don't understand debt. Do you?
 
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