Join the Meeting Place for Moms!
Talk to other moms, share advice, and have fun!

(minimum 6 characters)

IT’S OFFICIAL: U.S. HITS $16.4T DEBT LIMIT

Posted by on Dec. 31, 2012 at 10:38 PM
  • 8 Replies
2 moms liked this
IT’S OFFICIAL: U.S. HITS $16.4T DEBT LIMIT Posted on December 31, 2012 at 6:45pm by Becket Adams Print »Email » Comments (32) The U.S. government on Monday officially reached it $16.4 trillion borrowing limit, a grim reminder of the state of the country’s finances. Reaching the limit sets up another dispute between the White House and Congress over taxes and spending in the new year. Treasury Secretary Timothy Geithner says the government will take a series of accounting measures to avoid defaulting on its debt. On Monday, it suspended the issuance of new debt for two government retirement funds. Last week, Geithner said the measures would save about $200 billion and avoid default for about two months. Geithner said it is difficult to predict how long default can be avoided because of ongoing negotiations over tax and budget policies. The debt limit is the amount the government can borrow to help finance its operations.
by on Dec. 31, 2012 at 10:38 PM
Add your quick reply below:
You must be a member to reply to this post.
Replies (1-8):
gsprofval
by Gold Member on Dec. 31, 2012 at 10:46 PM

This is so sad for our children.

_Kissy_
by on Jan. 1, 2013 at 12:53 AM
Why? Have you paid off your grandparents debt off?

Quoting gsprofval:

This is so sad for our children.

Posted on CafeMom Mobile
Mommy_of_Riley
by Just Jess on Jan. 1, 2013 at 2:08 AM
1 mom liked this
This country has always been in debt... And we need to fix it.
Posted on CafeMom Mobile
SallyMJ
by Ruby Member on Jan. 1, 2013 at 2:34 AM
2 moms liked this

I thought $16 trillion was a lot in the summer. And now another $400 BILLION just a few months later...

143myboys9496
by Gold Member on Jan. 1, 2013 at 10:27 AM
1 mom liked this

 Interesting how Geithner's bandaids will last just as long as the senate/VP delay on the sequester...

Everyone remembers that also in March, senators, representatives, judges, and other White House staff get raises? Let's see, as I recall these are in effect 3/13....

Who wants to bet there's a spending cut deal...around...oh idk...the 10th?

Bets anyone? Let's do..superbowl squares but for when spending cuts will be hammered out...LOL

imamomzilla
by on Jan. 1, 2013 at 7:05 PM

 sick

shannonnigans
by Bronze Member on Jan. 1, 2013 at 7:51 PM
My kids will be fine.
Posted on CafeMom Mobile
pvtjokerus
by Gold Member on Jan. 2, 2013 at 9:51 PM

I just saw that Obama has spent a trillion each year in office.  He will be known as the President who can't control his spending.

Add your quick reply below:
You must be a member to reply to this post.
Join the Meeting Place for Moms!
Talk to other moms, share advice, and have fun!

(minimum 6 characters)