White House: Debt Ceiling Must Be Raised

[Khephra]

WASHINGTON -- The Bush administration announced Wednesday that it will run out of maneuvering room to manage the government's massive borrowing needs in two weeks, putting more pressure on Congress to raise the debt ceiling when it convenes for a special post-election session.

Treasury Department officials announced that they will be able to conduct a scheduled series of debt auctions next week to raise $51 billion. However, an auction of four-week Treasury bills due to be completed on Nov. 18 will have to be postponed unless Congress acts before then to raise the debt ceiling.

"Due to debt limit constraints, we currently do not have the capacity to settle our four-week bill auction scheduled to settle on Nov. 18," Timothy Bitsberger, acting assistant Treasury secretary for financial markets, said in a statement.

Congress is scheduled to return for a lame-duck session beginning on Nov. 16 to deal with the debt ceiling, an omnibus spending plan for the rest of this budget year and other matters.

http://www.newsday.com/news/politics/wire/sns-ap-debt-ceiling,0,7172559.story?coll=sns-ap-politics-headlines

[Ducks In A Row]

1. We will be destroyed

the rethugs should be dancing in the streets now

[StupidFOX]

44. Thanks Republican jackasses! As a 17 year old...

I'll be paying for your unaffordable tax cuts! Sons of bitches, may you burn in Hell for stealing (SIN!!! Wow, thought they hated those)

[Furity]

53. thanks for being a 17 year old that cares...

We desperately need more like you.

~Furity

[Ready4Change]

2. It begins. n/t

.

[saigon68]

41. Pigs at Halliburton await FEEDING AT PUBLIC TROUGH

OINK, OINK, OINK, OINK,OINK, OINK, OINK, OINK,OINK, OINK, OINK, OINK,
OINK, OINK, OINK, OINK,OINK, OINK, OINK, OINK,OINK, OINK, OINK, OINK,
OINK, OINK, OINK, OINK,OINK, OINK, OINK, OINK,OINK, OINK, OINK, OINK,
OINK, OINK, OINK, OINK,OINK, OINK, OINK, OINK,OINK, OINK, OINK, OINK,
OINK, OINK, OINK, OINK,OINK, OINK, OINK, OINK,OINK, OINK, OINK, OINK,
OINK, OINK, OINK, OINK,OINK, OINK, OINK, OINK,OINK, OINK, OINK, OINK,
OINK, OINK, OINK, OINK,OINK, OINK, OINK, OINK,OINK, OINK, OINK, OINK,
OINK, OINK, OINK, OINK,OINK, OINK, OINK, OINK,OINK, OINK, OINK, OINK,
OINK, OINK, OINK, OINK,OINK, OINK, OINK, OINK,OINK, OINK, OINK, OINK,
OINK, OINK, OINK, OINK,OINK, OINK, OINK, OINK,OINK, OINK, OINK, OINK,
OINK, OINK, OINK, OINK,OINK, OINK, OINK, OINK,OINK, OINK, OINK, OINK,
OINK, OINK, OINK, OINK,OINK, OINK, OINK, OINK,OINK, OINK, OINK, OINK,
OINK, OINK, OINK, OINK,OINK, OINK, OINK, OINK,OINK, OINK, OINK, OINK,
OINK, OINK, OINK, OINK,OINK, OINK, OINK, OINK,OINK, OINK, OINK, OINK,
OINK, OINK, OINK, OINK,OINK, OINK, OINK, OINK,OINK, OINK, OINK, OINK,
OINK, OINK, OINK, OINK,OINK, OINK, OINK, OINK,OINK, OINK, OINK, OINK,
OINK, OINK, OINK, OINK,OINK, OINK, OINK, OINK,OINK, OINK, OINK, OINK,
OINK, OINK, OINK, OINK,OINK, OINK, OINK, OINK,OINK, OINK, OINK, OINK,
OINK, OINK, OINK, OINK,OINK, OINK, OINK, OINK,OINK, OINK, OINK, OINK,
OINK, OINK, OINK, OINK,OINK, OINK, OINK, OINK,OINK, OINK, OINK, OINK,
OINK, OINK, OINK, OINK,OINK, OINK, OINK, OINK,OINK, OINK, OINK, OINK,

[Cassandra]

3. What convenient timing.

Why am I not surprised?

[stepnw1f]

4. Bush Adding Weight To The Shackles

of the middleclass and poor. This is economic Darwinism.

[City Lights]

5. Well that didn't take long.

We'll see which Dems have spines.

[placton]

37. Dems? Spines?

does not compute - we could have run a better campaign out of DU

[saigon68]

40. we could have run a better campaign out of DU

I think so.

[PROGRESSIVE1]

6. Good! If Bushler doesn't control spending, then we...

will have a financial(economic) crisis and Democrats can take back the Senate and Governorships in 2006 and the White House in 2008!

[atreides1]

20. In Your Dreams

I don't recall the Republicans doing much to control spending this time around, and not only did Bushler get re-elected, they now have
almost full control of Congress

Throw in the Dems who constantly cross the line to vote with them and
guess what, 50% of the American people don't care. And that was the 50% that got Bushler re-elected.

I think it's time we all started dealing with reality, we are no longer a Democratic Republic. Remember what Ben Franklin said about if we can keep it, guess what we didn't.

The fundies, the homophobes, the racists, the warmongers, and the
pro-fetus lobby won.

[trogdor]

33. Lots of those guys are gone.

Throw in the Dems who constantly cross the line to vote with them and
guess what, 50% of the American people don't care. And that was the 50% that got Bushler re-elected.

Zell Miller, Breaux, Daschle - all gone. What's left is the core - the ones who were fighting all along, people like Chuck Schumer (my preference to replace Daschle).

[Cobalt Violet]

7. So they can bleed the Northeast of more money for thier taker states.

And so they can fight thier immoral wars. Fuck heADS!

[NVMojo]

8. Dock Bush's fecking paycheck!

[ibegurpard]

9. Pony up Republican Fuckers!

eom

[flobee1kenobi]

10. Due to debt limit constraints????

of course it has NOTHING to do with uncomtrolled spending, its the debt limit thats the problem.
oh well-democracy was nice while it lasted

[bullimiami]

11. Democrats need to deny this.

Let the republicans pass it over 100% Democratic opposition.
Get out and talk about it in public.
Act like a real opposition party.

[jpak]

12. Who cares - it's not your fucking money

It's your great-grand kid's money.

Tax the unborn now!

[tsuki]

43. Why do you think they fight so hard

for each and every life? Another serf...not to be wasted.

[Anakin Skywalker]

45. Great Point!

You got it!

[Furity]

57. That's so crass

And oh so true. Crying in my beer here.

~Furity

[llmart]

13. And here we go already......

didn't take long.

[dryan]

It's started already!

[whatelseisnew]

17. It never stopped

[cmf]

14. And so it begins. n/t

[arwalden]

15. I'm Shocked! Big Surprise! Aren't You Surprised? Didn't See THAT Coming!!

[Ganja Ninja]

16. Ah! That's what I needed to hear.

Sorry fiscal conservatives. You had your chance Bozo's!

[Beetwasher]

18. Wasting No Time At All! Digging Into Our Children's And Grandchildren's

pockets already...I can't WAIT for the next tax break! Yay! :eyes:

[Old and In the Way]

19. Wheeeeeeeeeeeeeee

Welcome to the Coconut Republic!

C'mon, give 'em what they want. I mean, someone will buy our debt, right? No need for accountability, 'cuz we're the Republican States of America!

[Fovea]

21. Bush to conservatives

Who's your prophet?

[Barrett808]

22. Fallujah is next. n/t

[Wright Patman]

24. For the third time

Fallujah is a rerun of a rerun.

[Dirty Hippie]

23. Next announcement...

plans for another tax cut.

[GinaMaria]

27. and a cancellation of Social Security and Medicare

stack the courts and invade Poland, don't forget Poland :crazy:

[scavok]

25. The debt ceiling doesn't matter

If the T-bill auction has no buyers. How much longer will other countries (and individuals) continue to finance this debt?

[wryter2000]

26. Yup

Here we go. Bush running our country into the ground.

[chicagojoe]

28. Here it comes, people. We're being a55fu#ed with no lube!!!

[msanthrope]

29. "Don't Blame Me, I Voted for Kerry." n/t

[fairyduster]

30. I read about this a couple weeks ago

It was buried in the yahoo news stories. bush is also going to ask for
another 70? BILLION dollars for Iraq. Btw....the cost of both wars is not included in the budget.

[coreystone]

31. Treasury Secretary Snow Started Borrowing From Federal Employees..

retirement fund. The Republican controlled Congress would not have passed legislation prior to the election to raise the ceiling, so, the "G-Fund" is borrowed from. I posted this several weeks ago. No one was interested. I am sure that most federal employees still don't know. Nobody cared about the political ramifications. And, I never heard about it in the media; not that I was surprised. Congress will not be able to put it off for very long.

This administration has been JUST holding itself together by "Elmer's Glue". It doesn't work very well in the rain. And, it sure is raining now!

[JPace]

32. They are not wasting any time are they?

they have to get about the business of dismantling
the country. Then when it is all in pieces and there
is only the rich and the poor.....maybe then we can
take back our country. Of course it will take another
revolution, but what the heck at least this time we
will die on our own land.

America...soon to be a third world country.

[54anickel]

34. No problem! The buck will continue to drop until it is worthless, isn't

that what they wanted? Hit a low of 84.62 today.

http://quotes.ino.com/chart/?s=NYBOT_DXY0

[htuttle]

36. I'm sure they can always print more

Yes. Yes, I know...

[Sven77]

38. print more and charge interest

print more and charge interest, thats what the federal reserve is all about. they get the wealth, you get the higher taxes and cost of living.

[Chicago Democrat]

39. Buy Foreign Currency investments and Global Funds.

[Logansquare]

35. Don't worry, it'll be like the S&L debacle, the feds will bail us out...

Oops...

[Sara Beverley]

42. Now imagine a President Kerry asking for this to happen. Let's count

our blessings right now. In some ways I am relieved for Kerry and his family. Being right doesn't mean always winning. Being right means being able to sleep and look yourself in the mirror when you wake up. I believe that the universe is unfolding as it should. Damn, I have to hold onto something!

[Deja Q]

46. We're already beyond the point of collapse. Why extend it? Get used to it.

Face it, people. There's no homeland left to secure.

Corporations are fleecing us raw.

* is running rampant.

How long before it becomes 'every man for himself'?

The catalyst simply hasn't done its work yet. But it's close to.

And with a shrinking middle class carrying more of the tax burden while the top 2% get truckloads of soon-to-be-permanent tax CUTS, we are in deep trouble.

Get used to it. The future is here.

[judaspriestess]

47. Geez Louise

Talk about not wasting any time!

I printed the story to keep for my records. Thanks

[Chicago Democrat]

48. SELL DOLLARS! PUT EVERYTHING IN OVERSEAS FUNDS...

Buy gold. Sell US Real Estate... Especially on COAST LINES....


Im moving to CANADA>>> FUCK THIS PLACE

[candy331]

49. Republican doing what they do best, may the fall come quickly

Anxious expectation makes the heart sick.

[mahatmakanejeeves]

50. message to Dems

Don't.

Do not cooperate. Do not vote to raise the debt ceiling. That idiot broke it; he can fix it.

It's "Atlas Shrugged" time.

[rfkrocks]

51. I find the debt ceiling "likeable" and I am telling CNN so

[Kilroy003]

52. Don't they have to take away our guns first? n/t

[tarheel_voter]

54. pay as you go - make it happen sen. kerry

please. don't approve the increase in the debt ceiling.

[Flammable Materials]

55. Charge and spend Conservatives.

They spend cash like a meth addict.

But who cares? Not like we can do anything about it.

Marshmallow?

[crispini]

56. It's the "baby tax!"

As of now, George Lakoff says, each child born in the US will owe about $175,000 on our deficit. EACH. Start using this phrase with your friends and coworkers.

The baby tax. It'll rock them back on their sox.

[SillyGoose]

58. Hmmm....timing is everything.

We are so screwed.

[Supersedeas]

59. Priorities...my conservative friends...priorities.

Let your grandkids pay for *'s bills.

[Cinletharwi]

60. THE PARTY OF SMALL GOVERNMENT

NOT!

I have a feeling the Libertarian Party will be a lot more popular after 4 more years of Bush.

[yellowcanine]

61. Democrats need to squeeze Bush on this - force Pubs to vote for

raising debt ceiling before any Dem votes yes.

[VegasWolf]

62. Chimpanzee misunderstood, it's not "The buck drops here!" n/t

[struggle4progress]

63. Alms for the rich! Alms for the rich! eom