Seeking Alpha

The U.S. will hit the debt ceiling May 16, with Aug. 2 marking the ultimate deadline, and...

The U.S. will hit the debt ceiling May 16, with Aug. 2 marking the ultimate deadline, and emergency measures to avoid a crisis begin this week, Geithner says in a letter to Congress: "Any attempt by either party to use the full faith and credit of the United States as a bargaining chip to advance partisan policy agendas would be irresponsible."
Comments (12)
  • tigersam
    , contributor
    Comments (1711) | Send Message
     
    Do not play politics. This need to be raised.
    2 May 2011, 03:21 PM Reply Like
  • bigbenorr
    , contributor
    Comments (837) | Send Message
     
    What should we raise it to?
    2 May 2011, 03:24 PM Reply Like
  • tigersam
    , contributor
    Comments (1711) | Send Message
     
    By 1 foot.
    2 May 2011, 03:28 PM Reply Like
  • SoonerTed
    , contributor
    Comments (39) | Send Message
     
    Why not set it to a kagillion dollars? If we don't use these statutory limits to affect changes in spending, why have them?

     

    Besides, we have gone past the debt limit before. It happened in the 90s under Clinton and also under GW Bush. There was no catastrophic default. Interest payments will continue to be made.
    2 May 2011, 03:29 PM Reply Like
  • Stoploss
    , contributor
    Comments (1727) | Send Message
     
    Let's raise it to Sextillion dollars.. Think outside the box. Pardon the pun. Geometrically speaking of course.
    2 May 2011, 03:47 PM Reply Like
  • youngman442002
    , contributor
    Comments (5131) | Send Message
     
    Why raise it.....If the politicians cannot cutspending...this is a way to force them too...
    2 May 2011, 03:33 PM Reply Like
  • stocksniper31
    , contributor
    Comments (46) | Send Message
     
    What is responsible Tim is the inflation caused by QE and destruction of the dollar. So much for your strong dollar policy you fing dope.
    2 May 2011, 03:37 PM Reply Like
  • apberusdisvet
    , contributor
    Comments (2946) | Send Message
     
    Most treasury/FED analysts have determined that we are already over the limit; there is a lot of behind the scenes activity to cook the books. But raise it anyway, the FED has already destroyed the economy while enriching the global banking cartel with taxpayer funds; we might as well go all in and stop kicking the can any further.
    2 May 2011, 03:40 PM Reply Like
  • davidingeorgia
    , contributor
    Comments (2713) | Send Message
     
    How about "using it as a bargaining chip to try and keep the United States from going bankrupt" Timmy? Would that be a suitable thing to use it for? If such a thing is even still possible.

     

    Could the Obama administration hire a Secretary of the Treasury who can at least lie more convincingly? Please?
    2 May 2011, 03:53 PM Reply Like
  • Glocks-n-Gold
    , contributor
    Comments (197) | Send Message
     
    Turbo tax Timmy talking about responsibility and debt ceilings is akin to Farrakhan preaching tolerance and respect for the Jews.
    2 May 2011, 04:16 PM Reply Like
  • WMARKW
    , contributor
    Comments (10690) | Send Message
     
    I would like to see some brawl's in congress like they have in some of the Asian parliments where they throw chairs, etc at eachother. It's time for a good old head busting fight. Someone has to stand up and say enough is enough...but alas, there are no true leader patriots.

     

    I have not even seen a news organization able to articulate a comparison between government spending and receipts. When spending has grown at 6.9% since our last balanced budget and revenues have grown at 2.1% the logical suggestion to me is that spending is growing 3x faster than revenue....and, that revenue is keeping pace with or exceeding CPI (although it's a bogus measure of inflation). So clearly government has grown...too fast.
    2 May 2011, 05:21 PM Reply Like
  • Monngie
    , contributor
    Comments (928) | Send Message
     
    That's unduly violent. I think they should just hold Crying John Boner down and clean off his fake tan.
    2 May 2011, 06:21 PM Reply Like
DJIA (DIA) S&P 500 (SPY)
ETF Hub
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs