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| Economy |
| Obama passes legislation to lift debt ceiling |
| 2013-02-06 |
[Iran Press TV] US President Barack ObamaI inhaled. That was the point... has passed legislation that suspends the nation's borrowing limit, averting a default and pushing debt talks until later in the year. Obama signed into law the new bill on Monday, which postpones the USD 16.4 trillion limit on federal borrowing until May 18 and at the same time urges lawmakers to adopt a budget resolution by April 2015. This comes while on May 19, the debt limit will be raised, allowing the government to have access to approximately USD 450 billion to avert a default. The Senate approved the bill last week after the Democratic members including Obama warned that failure to pass the bill would threaten economic recovery. Meanwhile, the US House of Representatives approved to lift the country's debt ceiling late last month, with the Republicans including a provision that temporarily denies lawmakers' pay if they fail to create a budget plan. As lawmakers avoided the fiscal cliff about a month ago, deep spending cuts are expected to hit the Pentagon and federal agencies on March 1. |
| Posted by:Fred |
| #1 Its offcial - the US is now copying France + a few other Euros in hoping that temporarily expanded or limited deficit spending will stimulate the Econ just enuff to increase revenues to pay off select near-term liabilities = accounts payable. IMO its the same as saying the national debt burden is so hopelessly in the red that Govt focii is no longer on paying off LT liabilities. but near-term or very near term/immediate liabilities. COLD WAR-ERA SOVIET COMPLAN, GOSPLAN, + ACCOUNTING, BUDGET WRITEOFFS WHERE IFF-WE-TELL-OURSELVES-WE-HAVE-NO-DEBT-WE-DON'T HERE WE COME. SOCIALISM-GOVTISM = NEW "SOVEREIGNTY/ NATIONALISM" IN THE AGE OF ANTI-NATIONALIST, ANTI-SOVEREIGNTY, ANTI-BORDERS, + ANTI-[State]CONSTITUTIONAL OWG + NAU 2015 + TRANS/INTERIM. The US or National Welfare-Nanny State = given sway to the OWG Global Govt/Fed Union [GGU/GFU] "Regional Welfare-Nanny State", "Trans-Regional/Continental Welfare-Nanny State" + ultimately the OWG/Global Govt-level Welfare-Nanny State. AN INTENTIONALLY BORDERLESS USA + NAU + TRANS/INTERIM = THE FED/WASHINGTON DC IS THE NODE OR MECHANISM FOR DEFINING OR DIFFERENTIATING WHAT USED TO BE "SOLE" SOVEREIGN AMERICA FROM THE OTHER NAU, ETC. MEMBER-STATES. A "Border" now is just a line on a future Kiddie Map + Space University Archaeo-Histoire'/Science Book about our primitive pre-OWG/Space Govt. Ancestors. Reminds me of a FUTURAMA Episode where the gang travels centuries back in time to 1947 Roswell > "ZOOOOOOMG, [Old Earth = mid/late 20th Century] ITS MORE HORRIBLE THAN I EVER IMAGINED"! |
| Posted by: JosephMendiola 2013-02-06 18:56 |