Excerpt from this article:
"$18,112,975,000,000 is about $25 million below the current legal debt limit of $18,113,000,080,959.35. On July 30, Treasury Secretary Jacob Lew sent a letter to the leaders of Congress informing them that he was extending a 'debt issuance suspension period' through October 30. In practice, that means that unless Congress enacts new legislation to increase the limit on the federal debt before then, the Treasury will continue for at least the next eleven weeks to issue Daily Treasury Statements that show the federal debt subject to the limit beginning and ending each day frozen just below that limit."
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This story has everything to do with the upcoming presidential election. The government is "cooking the books" to make it look like our country is not in as bad a shape as it really is. In Mark Levin's new book, Plunder and Deceit he quotes University Professor of Economics Dr. Laurence J. Kotlikoff on how our leaders "cook our books":
"Our country is broke. It's not broke in 75 years or 50 years or 25 years or 10 years. It's broke today."
Mark Levin goes on to say:
"Professor Kotlikoff explained that the real debt picture is far worse than the government admits. 'The U.S. fiscal gap currently stands at 210 trillion...It's 16 times larger than official U.S. debt, which indicates precicely how useless official debt is for understanding our true fiscal position.'"
This is a great book and I wholeheartedly recommended it. In another place Mark Levin sums up how many Americans feel about how our leaders spend our money:
"You should view these politicians with the deepest contempt you can possibly imagine. What they are doing to this country, what they are doing to our finances - there is not a criminal in any federal prison, state prison, city or county jail with respect to financial crimes of any sort who collectively could have done the kind of damage that Barack Obama and Harry Reid and Nancy Pelosi and yes, willing, timid, gutless Republicans have done to this country! To your future, to your children and your grandchildren. What they are doing is with malice and with forethought." (emphasis mine) (source)
Here is how one writer put it:
"You know...if I had to borrow 40% of the money I need to pay my bills every month, I'd be fairly alarmed. When you come up a few bucks short at the end of the month for necessary bills, you can cut back: get rid of the cell phone, stop eating out, whatever. But when your monthly nut is routinely running to almost twice what you can pay, you're kind of out of options. It's probably time to re-examine your resistance to sleeping outdoors and pooping outdoors, and...well, doing everything else outdoors, because outdoors is where you're going to be living before long." (Doom: Naked Came I Into This World, And Naked Shall I Leave It - ace.mu.nu)
Someone once wrote:
"A democracy cannot exist as a permanent form of government. It can only exist until the majority discover it can vote itself largess out of the public treasury. After that, the majority always votes for the candidate promising the most benefits with the result the democracy collapses because of the loose fiscal policy ensuing, always to be followed by a dictatorship and then a monarchy." (Source)
Sarah Palin has said that America will eventually default on its debt and claims
that the federal government is “stockpiling bullets in case of civil
unrest'” ... (Sarah Palin: Feds Stockpiling Bullets to Use Against Us - politico.com)
Recommended reading:
Florida Gov. On Gov't Medicaid Expansion; 'Trillion Dollar Deficits -- Would You Do Business With Them?' - cnsnews.com
Ponzi: Treasury Issues $1,000,000,000,000 ($1 Trillion) In New Debt In 8 Weeks - To Pay Off Old Debt! - cnsnews.com
Total US Debt Rises Over $18 Trillion; Up 70% Under Barack Obama - zerohedge.comNancy Pelosi: I'm All for Balancing the Budget...in a Few Decades!" - michellemalkin.com
The $17 Trillion Dollar Party - theeconomiccollapseblog.com
University of California Study: National Debt Really $70 Trillion - thenewamerica.com
Explaining the Obama Economy to 6th Graders
Recommended sermon:
When Government Tries to Be God, by Dr. David P. Murray
