Debt limit?

[Fieldmouse]

Hey, wasn't tax cheat Timmy on Capitol hill a few weeks back saying doomsday was looming if we didn't pass a raise in the debt ceiling by now? He was going on all the talk shows along with others warning about defaults. Hmmm, so the day has come and gone, yet here we are. Now they are saying Aug.

Why bother raising it at all? Seems to me now we have the balance budget amendment in place.

[sconnyhunter]

They need to raise the limit so they can point to having done something. It may be wrong for the country, but hey, they did do something.

[Lunkerdog]

They said they could do some shuffling of the books to keep them going for awhile. Whatever that means?

As far as I know, which honestly isn't much, nobody really knows what will happen if they don't raise it. Because they've never not raised it.

BO has ate some crow on this issue after voting not to raise it as a Senator, and saying that our government was acting irresponsibly.

Now that it's his butt in the hot seat he's taken a slightly different view.

Edit: Right after I posted this I caught a quote from Timmy, he said he can keep us afloat for awhile threw "accounting maneuvers". Again, whatever that means?

[Fieldmouse]

It's money sitting around not spent. In other words, billion dollars of slush funds. It's like you hiding serious money from the wife.

FYI, 74 times the debt ceiling has been raised. Going from memory.