Yup! That's right! The US Government has a blank check for the next 4 months! -Bill There is no debt ceiling in place, and here’s why Eric Pfeiffer, Yahoo News By Eric Pfeiffer, Yahoo News 15 hours ago President ? Obama addresses the media during the government shutdown. (Reuters) After 16 days of a partial government shutdown, the House and Senate finally, on Wednesday night, agreed on legislation to fund the government. And according to almost every report, the funding legislation, which was quickly signed into law by President Barack Obama, also raised the nation’s debt ceiling. Except, that’s not exactly true. What actually happened was that Congress voted to effectively suspend the debt ceiling from Oct. 17, 2013, through Feb. 7, 2014. In other words, they didn't raise the debt ceiling ― they eliminated it altogether until Feb 7 of next year. As it turns out, this is the second time this year that Congress has essentially turned over the keys on debt spending. And there’s every reason to believe it will do so again when both sides pick up this fight in a few months. Allowing the White House to raise the debt ceiling without congressional approval is a move reportedly favored by Obama, but conservative critics say it will lead to disastrous and unchecked increases in spending. In 1917, Congress created the debt ceiling, technically known as the Second Liberty Bond Act. Before the first debt ceiling was created, Congress has to approve each individual bond and increase in national debt. Passage of the first debt ceiling began the slow march of handing over power to the executive branch, allowing the president to issue bonds without congressional approval. The only requirement is that the total amount of bonds issued stay within the debt ceiling amount mandated by Congress. But during the 2012 debt ceiling debate, Congress took this handover of power one step further by giving President Obama a set period of time to increase the debt ceiling at his discretion. The No Budget, No Pay Act of 2013 suspended the debt ceiling from Feb. 4, 2013, to May, 19, 2013. After that, the actual debt ceiling was raised, but only enough to allow the government to safely pay its debts through October 17. As the Daily Caller explains, now most Americans effectively have no idea how much debt the government will accrue between now and the February deadline. And without a debt ceiling, Congress and the White House could conceivably raise the debt without limit. The Washington Post explains that suspending the debt ceiling actually stems from an idea floated by Mitch McConnell back in 2011. Under McConnell’s proposal, the president would have the sole authority to raise the debt ceiling. Congress would then vote to approve or disapprove of the change. If it voted to disapprove, the president could then veto the disapproval. And as with any presidential veto, Congress would then have to pass a two-thirds majority vote to overturn the veto and effectively block raising the debt ceiling. Regardless of which path Congress and the White House take, they’re likely to be wrestling with massive debt for a long time to come. Technically, the U.S. has carried a national debt every year going back to 1835. The dollar amount continues to grow each year, even as it has become a smaller percentage of the overall federal budget in recent years. The federal debt reached its peak as a percentage of the U.S. budget during World War II. That fact has led several respected economists, including former Federal Reserve Chairman Alan Greenspan, to question why we even have a debt ceiling. "Why do we have a debt limit in the first place? We appropriate funds, we have tax law, and one reasonably adept at arithmetic can calculate what the debt change is going to be,” Greenspan said during an April, 2011, appearance on NBC’s “Meet the Press.” “The Congress and the president have signed legislation predetermining what that number is,” Greenspan continued. “Why we need suspenders and belts is something I've never understood.” |
Chase Bank Limits Cash Withdrawals, Bans International Wire Transfers Posted: 18 Oct 2013 08:33 AM PDT  http://www.dailypaul.com/302682/chase-bank-limits-cash-withdrawals-bans-international-wire-transfers Chase Bank Limits Cash Withdrawals, Bans International Wire Transfers Preparing for looming financial crisis in U.S.? Paul Joseph Watson Infowars.com October 16, 2013 Chase Bank has moved to limit cash withdrawals while banning business customers from sending international wire transfers from November 17 onwards, prompting speculation that the bank is preparing for a looming financial crisis in the United States. Numerous business customers with Chase BusinessSelect Checking and Chase BusinessClassic accounts have received letters over the past weekinforming them that cash activity (both deposits and withdrawals) will be limited to a $50,000 total per statement cycle from November 17 onwards. The letter reads; Dear Business Customer,
|
You need to be a member of Ashtar Command - Spiritual Community to add comments!
Latest Activity
Enhancing Our Discernment * Patricia Cota-Robles I AM That.. I AM My I AM Presence is an intelligent Being of Light with a pure and perfect Consciousness. It is the Only Begotten Child of God. It is the Divine Me. Where my attention is, there…
"If it's a musical exorcism you require, Bach's your man.....Johann Sebastian Bach (1685-1750): Prelude and Fugue, C Maj, BWV 547, played by an excellent organist, Maria Vekilova....
Ω
https://www.youtube.com/watch?v=yCxIwjPGdyo"
Ω
https://www.youtube.com/watch?v=yCxIwjPGdyo"
Music is absolutely the most important thing in the Universe, and I appreciate you continuously Listening to music.I will give you music anytime you ask me. Just email cmagicorch@gmail.com for the most powerful healing music in theUniverse--THIS IS…
THE GREAT WORK- The Labyrinth. Ariadne's Thread. The Goat of Mendes. The Mysteries of the Cross. Santiago de Compostela. Jacques de Molai. The Cross of Saint Andrew. The Patron Saint of Goldsmiths.…
Posted on 07/19/2026 by EraOfLight — Leave a reply My dear friends, we love you so very much, From the day you were born, you have been programming your brain to form your very own model of reality. As much as you share in common with others,…
Posted on 07/19/2026 by EraOfLight — Leave a reply Greetings Dearest Family on Earth, we the Pleiadian Council greet you with Compassion and Guidance.Dear ones, many upon your world have forgotten the true magnitude of the light in which they…
"This is a very interesting Sumerian tablet, which clearly describes ascension and when it applies to a person, an Earth human, who has left the form, yet does not get presented with the usual astral vortex, with manasic light, at the end of that…"
"This is a very interesting Sumerian tablet, which clearly describes ascension and when it applies to a person, an Earth human, who has left the form, yet does not get presented with the usual astral vortex, with manasic light, at the end of that…"
Comments
And it will come up again.. paper doesn't mean crap..Theres gonna be a crash it is inevitable..
Suzexx