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In reply to the discussion: Fabricated Crisis of the Fiscal Cliff Exposed as Treasury Department Pulls $200 Billion out of a Hat [View all]pnwmom
(108,977 posts)29. The debt limit ceiling is a completely different issue from the fiscal cliff.
It's a coincidence that they're occurring at the same time.
The fiscal cliff has to do with the expiration of the Bush tax cuts at the same time that the automatic spending cuts of Simpson Bowles takes effect. Also, millions of people will lose their long term unemployment payments.
The debt ceiling limit is a separate issue. Periodically, the government votes to establish a "debt ceiling," saying that the government can't incur debt beyond that amount. When they reach the ceiling, as a result of both ongoing and new funding obligations, they raise the ceiling again.
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Fabricated Crisis of the Fiscal Cliff Exposed as Treasury Department Pulls $200 Billion out of a Hat [View all]
xchrom
Dec 2012
OP
Of course. It's like nobody can remember that anything ever happened beyond 10 years ago.
Egalitarian Thug
Dec 2012
#1
kr. they're going to keep this charade going until they get to the debt ceiling deadline, looks
HiPointDem
Dec 2012
#2
i guess the troll got zapped, but the post is still there. i'd prefer it were deleted altogether.
HiPointDem
Dec 2012
#13
Darn it. I just tried to re-alert with ToS clicked and accidentally alerted on your post!
yardwork
Dec 2012
#14
well, thanks a lot!! actually, i alerted on that post 3 times last night with tos checked. they
HiPointDem
Dec 2012
#15
MIRt doesn't have the power to delete posts. Only Admin. If you clicked ToS they will see it.
yardwork
Dec 2012
#16
You think there's no cliff since they're having to steal union members' pensions
DevonRex
Dec 2012
#32
If bankers can't go to jail, and it's all a lie, then this too, the cliff is a fallacy.
Safetykitten
Dec 2012
#8
(The pension fund will be made whole once the debt limit impasse is resolved.)
socialindependocrat
Dec 2012
#11
What the United States of America should do is change its name to Wall Street.
Octafish
Dec 2012
#25