“The Obama administration will begin to tap federal retiree programs to help fund operations after the government lost its ability Monday to borrow more money from the public, adding urgency to efforts in Washington to fashion a compromise over the debt.”
Notice how he never mentions a curb to federal spending. No matter how much money they take in they always want more.
Treasury Secretary Timothy F. Geithner has warned for months that the government would soon hit the $14.3 trillion debt ceiling — a legal limit on how much it can borrow. With that limit reached Monday, Geithner is undertaking special measures in an effort to postpone the day when he will no longer have enough funds to pay all of the government’s bills.
Again notice there is no plan that includes a curb to spending. As the story continues it only gets worse.
Geithner, who has already suspended a program that helps state and local government manage their finances, will begin to borrow from retirement funds for federal workers. The measure won’t have an impact on retirees because the Treasury is legally required to reimburse the program.
Exactly what they said when they raided the Social Security trust fund and replaced the funds set aside for senior citizen retirement with IOU from the treasury. How has that repayment plan worked out for Social security. Again notice not one word about a curb to spending. The federal government feels that every expenditure is needed and there is absolutely no curbs in spending that is reasonable.
If Congress does not vote by Aug. 2 to raise the debt limit, Geithner says the government is likely to default on some of its obligations, which he says would cause enormous economic harm and the suspension of government services, including the disbursal of Social Security funds.
Again with the scare tactics. The sky is falling and we must hurry and pass a bail-out, or a stimulus bill, or Obamacare, or some other thoughtless legislation which gives more and more money to the federal government and leaves less money in the pockets of the American people.
The government needs about $125 billion more a month than it takes in each month. In a sane world spending would be cut by $125 billion in order to balance the budget but only in Washington D.C. can they continue to write checks that WE THE PEOPLE are then forced to pay. We said no to bail-outs they did it anyway. WE said no to Simulus money, they did it anyway. We said hell no to obamacare and they shoved it down our throats anyway. We said no to raising the debt ceiling and yet the debate continues.
In a letter released last week to Sen. Michael Bennet (D-Colo.), Geithner wrote that a default would risk a “double-dip” recession. Yet he failed to mention the a ever increasing debt load has led to the continuing decline of the dollar which will cause a FAR GREATER burden to our future then cutting wasteful government spending would. Why must it always be WE NEED MORE MONEY and they never want to live with less. The government continues to grow no matter how bad the economy gets. It grows in good times and in bad times. In times of economic booms and in times of economic busts. NO matter what the government always wants more of your liberty and more of your property.
“Default would not only increase borrowing costs for the federal government, but also for families, businesses and local governments — reducing investment and job creation throughout the economy,” Geithner wrote. Yeah so how about we the people simply say NO and take away the check book, cut up the credit cards and send these folks to rehab for their addiction to spending. I am afraid that the only way we can get the government to cut spending is to actually lower the debt limit. Forcing them to live within their means. No more credit on the backs of the American people.
Let us not forget that the democrats failed to pass a budget in 2010 for 2011 and they just went on a spending spree without any regard to the consequences of their actions, The government is out of control and they are behaving irresponsibly with our money.
There is a proposed budget for 2012 on the table that the democrats in the Senate refuse to even consider. They do not want to be held accountable for their fiscal irresponsibility. Therefore we the people say NO MORE!!!
Can you hear us now?