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What SHOULD they do and what WILL they do?

Geithner is asking congress to increase the top limit for the national debt because we are going to fly straight past the current credit limit around October. Should they give him the extension, and do you think they will?

"The latest request comes as the Treasury is ramping up borrowing to unprecedented levels to fund stimulus and financial bailout programs and cope with a deep recession that has devastated tax revenues.

It is expected to issue net new debt of as much as $2 trillion in the 2009 fiscal year ended September 30 and up to $1.6 trillion in the 2010 fiscal year, according to bond dealer forecasts."

http://www.reuters.com/article/politicsNews/idUSTRE57706N20090808?feedType=RSS&feedName=politicsNews

 
NotPanicking

Asked by NotPanicking at 6:46 PM on Aug. 8, 2009 in Politics & Current Events

Level 51 (421,172 Credits)
This question is closed.
Answers (15)
  • I had forgotten all of that. Funny how we can only be really concerned about a couple of things at once. My true fear is, and I don't usually get my nickers in a wad too quickly, is that the hole you mentioned will be so large.....how long is the longest ladder that you can buy at Lowes or Home Depot? I don't think one they use to climb telephone poles with will be enough!
    jesse123456

    Answer by jesse123456 at 9:53 PM on Aug. 8, 2009

  • NotPanicking

    Answer by NotPanicking at 6:46 PM on Aug. 8, 2009

  • I knw we can fund it with all the great green jobs! lol this was a giant ploy that worked for the Obaminator! He would kill trees if he could! more rights for trees less for babies and elderly! love that money Obama?
    Anonymous

    Answer by Anonymous at 6:51 PM on Aug. 8, 2009

  • No we need to look at programs we are funding that aren't working and aren't necessary and eliminate them. Like the war on drugs. We can stop funding Haliburton and Blackwater too. We could be truly fiscally conservative.
    momandvet

    Answer by momandvet at 7:08 PM on Aug. 8, 2009

  • Geithner sure got his Obotomy, didn't he? (mispelling intentional)

    Obviously, they should not increase the deficit levels.
    lovinangels

    Answer by lovinangels at 7:25 PM on Aug. 8, 2009

  • Speaking of "green jobs", where did all of the excitement over gas prices go after the election? I thought there was some urgent need to make the USA self-sufficient and lessen our dependency on foreign oil. It was all the rage during the campaign. Did they fix it and I missed it? I'll be really pissed if so.
    jesse123456

    Answer by jesse123456 at 7:34 PM on Aug. 8, 2009

  • Hrmmmmm, fiscally responsible? I think NOT!

    grlygrlz2

    Answer by grlygrlz2 at 7:47 PM on Aug. 8, 2009



  • * jesse123456 Hey remember Waters we want to SOCIALIZE oil....
    I think we need a new president! That will solve for all of these outrageous polices, false promises,and maybe after he is gone we can start climbing out of this huge hole!
    Anonymous

    Answer by Anonymous at 8:32 PM on Aug. 8, 2009

  • Should they? No.

    Will they? Probably.

    Lame.
    Anonymous

    Answer by Anonymous at 9:50 PM on Aug. 8, 2009

  • There exists a limit for our national debt???

    In view of all the trillions we have borrowed and the trillions which the stimulus bill, the omnibus bill and the proposed health care bill and cap & trade bill are slated to spend, I had NO idea there was any kind of limit ANYWHERE.

    What is the current $ amount of this limit??
    waldorfmom

    Answer by waldorfmom at 11:11 PM on Aug. 8, 2009

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