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Surprise! Debt-ceiling deal gives Obama a blank check: Loophole will allow government to spend WITHOUT LIMIT until February

 
Stu
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Surprise! Debt-ceiling deal gives Obama a blank check: Loophole will allow government to spend WITHOUT LIMIT until February
-Congressional deal set a time limit for a debt-ceiling extension, but didn't cap it with a fixed dollar amount

-Obama's three autumn demands – a new budget, a farm bill and comprehensive immigration reform – could take the U.S. into uncharted debt territory while Treasury stops enforcing a limit

-Democrats' immigration demands, previously parried with complaints about the cost of new border fences, could suddenly seem easy to grant

-Food stamp recipients, paid through the farm bill, have doubled under Obama and that growth shows no sign of stopping

-U.S. national debt stands to add a minimum of $300 billion between now and Feb. 7, when the eleventh-hour deal negotiated Wednesday expires


By David Martosko, U.s. Political Editor

PUBLISHED: 18:01 EST, 17 October 2013 | UPDATED: 18:08 EST, 17 October 2013

Read more: [link to www.dailymail.co.uk]
Follow us: @MailOnline on Twitter | DailyMail on Facebook
_____________________________________
There is no use removing doubts one by one. If we clear one doubt another doubt will arise and there will be no end of doubts. But, if by seeking the doubter, the doubter is found to be really non-existent, then all doubts will cease. -- Ramana Maharshi


You have to keep breaking
your heart until it opens.

~ Rumi
*Rhombus*

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10/18/2013 12:06 PM
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Re: Surprise! Debt-ceiling deal gives Obama a blank check: Loophole will allow government to spend WITHOUT LIMIT until February
Putting those final homey touches on their doomsday bunkers.
I don't know where you get your delusions, laser brain.
Stu (OP)

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10/18/2013 12:10 PM

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Re: Surprise! Debt-ceiling deal gives Obama a blank check: Loophole will allow government to spend WITHOUT LIMIT until February
the dollar is toast


a trillion dollars a year in money growth and what do we get?

and then there is this mind boggling fact :


<snip>


Of note: in the just completed week, the Fed's balance sheet increased by over $50 billion (again, in one week), by $100 billion in the past month, and by just shy of $1 trillion in the past year. Incidentally, this is "money" that continues to not make its way into the economy, and every single "reserve" dollar created by the Fed in exchange for monetization, is used by banks to ramp asset prices to now daily record levels.

rest>

[link to www.zerohedge.com]
_____________________________________
There is no use removing doubts one by one. If we clear one doubt another doubt will arise and there will be no end of doubts. But, if by seeking the doubter, the doubter is found to be really non-existent, then all doubts will cease. -- Ramana Maharshi


You have to keep breaking
your heart until it opens.

~ Rumi
heresmystupidaccount

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10/18/2013 12:10 PM

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Re: Surprise! Debt-ceiling deal gives Obama a blank check: Loophole will allow government to spend WITHOUT LIMIT until February
-Congressional deal set a time limit for a debt-ceiling extension, but didn't cap it with a fixed dollar amount

-Obama's three autumn demands – a new budget, a farm bill and comprehensive immigration reform – could take the U.S. into uncharted debt territory while Treasury stops enforcing a limit

-Democrats' immigration demands, previously parried with complaints about the cost of new border fences, could suddenly seem easy to grant

-Food stamp recipients, paid through the farm bill, have doubled under Obama and that growth shows no sign of stopping

-U.S. national debt stands to add a minimum of $300 billion between now and Feb. 7, when the eleventh-hour deal negotiated Wednesday expires


By David Martosko, U.s. Political Editor

PUBLISHED: 18:01 EST, 17 October 2013 | UPDATED: 18:08 EST, 17 October 2013

Read more: [link to www.dailymail.co.uk]
Follow us: @MailOnline on Twitter | DailyMail on Facebook
 Quoting: Stu


They are preparing for something, and they only need till February to prepare for it.
With sufficient thrust, pigs fly just fine.
heresmystupidaccount
stormer

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10/18/2013 12:10 PM

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Re: Surprise! Debt-ceiling deal gives Obama a blank check: Loophole will allow government to spend WITHOUT LIMIT until February
Debt up by a TRILLION come February,those dems gonna gone wild!

oridin
Emancipate yourselves from mental slavery - Bob Marley
Saddletramp
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10/18/2013 12:11 PM

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Re: Surprise! Debt-ceiling deal gives Obama a blank check: Loophole will allow government to spend WITHOUT LIMIT until February
It appears this was the whole point to this political charade, and it also appears both the democratic leadership and Republican RINO leadership was involved from the very beginning.

Now the question is, why?!?!?

What is going to happen in the next four months that they need unlimited spending ability?!?!?

This fiasco has been in the works since May, when we first hit the debt ceiling...I asked repeatedly, why aren't they working on this? Why did they wait until they were virtually out of "Extraordinary Measures" money to begin this process?!?!?

Now at least, that question has been answered...

Last Edited by Saddletramp on 10/18/2013 12:12 PM
"And how can a man die better than facing fearful odds, for the ashes of his fathers, and the temples of his Gods..." ~ Horatius

"Because he told the truth, and once you've heard the truth, everything else is just cheap whiskey..."
heresmystupidaccount

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Re: Surprise! Debt-ceiling deal gives Obama a blank check: Loophole will allow government to spend WITHOUT LIMIT until February
Putting those final homey touches on their doomsday bunkers.
 Quoting: *Rhombus*


this ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^​^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
With sufficient thrust, pigs fly just fine.
heresmystupidaccount
Stu (OP)

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10/18/2013 12:14 PM

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Re: Surprise! Debt-ceiling deal gives Obama a blank check: Loophole will allow government to spend WITHOUT LIMIT until February
there is only ONE logical conclusion to all of this madness: they are purposely trying to detonate the economy. There is simply No Way Out.

We already passed the Event Horizon.
_____________________________________
There is no use removing doubts one by one. If we clear one doubt another doubt will arise and there will be no end of doubts. But, if by seeking the doubter, the doubter is found to be really non-existent, then all doubts will cease. -- Ramana Maharshi


You have to keep breaking
your heart until it opens.

~ Rumi
Anonymous Coward
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10/18/2013 12:22 PM
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Re: Surprise! Debt-ceiling deal gives Obama a blank check: Loophole will allow government to spend WITHOUT LIMIT until February
blahblah5
stupid talk and no action

none a ya gonna do a god damned thing

the mountain of debt is going to grow exponentially

just talking about it is not gonna make it go away
Saddletramp
We Don't Rent Pigs...

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10/18/2013 12:26 PM

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Re: Surprise! Debt-ceiling deal gives Obama a blank check: Loophole will allow government to spend WITHOUT LIMIT until February
Thread: A Question To Ponder About Recent Political Manuverings, The Government Shut Down, And The Debt Ceiling...

OP, you're thread is the most important topic on GLP today!!!

Last Edited by Saddletramp on 10/18/2013 12:27 PM
"And how can a man die better than facing fearful odds, for the ashes of his fathers, and the temples of his Gods..." ~ Horatius

"Because he told the truth, and once you've heard the truth, everything else is just cheap whiskey..."
Anonymous Coward
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10/18/2013 12:29 PM
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Re: Surprise! Debt-ceiling deal gives Obama a blank check: Loophole will allow government to spend WITHOUT LIMIT until February
A little off topic, but may be important. The Amero.
[link to www.fourwinds10.net]
Saddletramp
We Don't Rent Pigs...

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10/18/2013 12:31 PM

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Re: Surprise! Debt-ceiling deal gives Obama a blank check: Loophole will allow government to spend WITHOUT LIMIT until February
there is only ONE logical conclusion to all of this madness: they are purposely trying to detonate the economy. There is simply No Way Out.

We already passed the Event Horizon.
 Quoting: Stu


Yeah but if they were going to detonate the economy that way, all they had to do was continue the shutdown and default...
"And how can a man die better than facing fearful odds, for the ashes of his fathers, and the temples of his Gods..." ~ Horatius

"Because he told the truth, and once you've heard the truth, everything else is just cheap whiskey..."
Stu (OP)

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10/18/2013 12:33 PM

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Re: Surprise! Debt-ceiling deal gives Obama a blank check: Loophole will allow government to spend WITHOUT LIMIT until February
 Quoting: Saddletramp



yes (re: your thread), something is definitely afoot. They're not stupid, they see the writing on the wall.

I give the timeline of about 2 years to US economic collapse (or worldwide, but thats a good case scenario. But thats not likely to happen as the house of cards can be crashed via many tipping points. For instance, its almost a dead certainty, Iran will get attacked by Israel in less than one year.

On the bright side, it gives preppers more time to prepare.
_____________________________________
There is no use removing doubts one by one. If we clear one doubt another doubt will arise and there will be no end of doubts. But, if by seeking the doubter, the doubter is found to be really non-existent, then all doubts will cease. -- Ramana Maharshi


You have to keep breaking
your heart until it opens.

~ Rumi
Justalittlebad

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10/18/2013 12:34 PM
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Re: Surprise! Debt-ceiling deal gives Obama a blank check: Loophole will allow government to spend WITHOUT LIMIT until February
Thread: Anyone notice the similarity. EBT shut down and then no-limit, Government shutdown and then no limit
Justalittlebad/more or less
Stu (OP)

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10/18/2013 12:34 PM

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Re: Surprise! Debt-ceiling deal gives Obama a blank check: Loophole will allow government to spend WITHOUT LIMIT until February
there is only ONE logical conclusion to all of this madness: they are purposely trying to detonate the economy. There is simply No Way Out.

We already passed the Event Horizon.
 Quoting: Stu


Yeah but if they were going to detonate the economy that way, all they had to do was continue the shutdown and default...
 Quoting: Saddletramp


its called acclimatation and conditioning...that is all. A controlled collapse if you will.
_____________________________________
There is no use removing doubts one by one. If we clear one doubt another doubt will arise and there will be no end of doubts. But, if by seeking the doubter, the doubter is found to be really non-existent, then all doubts will cease. -- Ramana Maharshi


You have to keep breaking
your heart until it opens.

~ Rumi
Anonymous Coward
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10/18/2013 12:38 PM
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Re: Surprise! Debt-ceiling deal gives Obama a blank check: Loophole will allow government to spend WITHOUT LIMIT until February
It appears this was the whole point to this political charade, and it also appears both the democratic leadership and Republican RINO leadership was involved from the very beginning.

Now the question is, why?!?!?

What is going to happen in the next four months that they need unlimited spending ability?!?!?

This fiasco has been in the works since May, when we first hit the debt ceiling...I asked repeatedly, why aren't they working on this? Why did they wait until they were virtually out of "Extraordinary Measures" money to begin this process?!?!?

Now at least, that question has been answered...
 Quoting: Saddletramp


Resonating with you on the same frequency Mr. Tramp.

This whole hokie-pokie was to remove the debt-ceiling. Whats not clear to me is this for an imminent "event" sometime within the next 4-6 months, or have they "broken the seal", and we are now permanently off to the races with an ever amended extension?

Frankly, Im not sure which scenario I prefer.....
Anonymous Coward
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10/18/2013 12:41 PM
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Re: Surprise! Debt-ceiling deal gives Obama a blank check: Loophole will allow government to spend WITHOUT LIMIT until February
It appears this was the whole point to this political charade, and it also appears both the democratic leadership and Republican RINO leadership was involved from the very beginning.

Now the question is, why?!?!?

What is going to happen in the next four months that they need unlimited spending ability?!?!?

This fiasco has been in the works since May, when we first hit the debt ceiling...I asked repeatedly, why aren't they working on this? Why did they wait until they were virtually out of "Extraordinary Measures" money to begin this process?!?!?

Now at least, that question has been answered...
 Quoting: Saddletramp


Resonating with you on the same frequency Mr. Tramp.

This whole hokie-pokie was to remove the debt-ceiling. Whats not clear to me is this for an imminent "event" sometime within the next 4-6 months, or have they "broken the seal", and we are now permanently off to the races with an ever amended extension?

Frankly, Im not sure which scenario I prefer.....
 Quoting: Anonymous Coward 48324557


I gotta start reading the whole thread before responding: I see y'all have discussed the nuances.....
Anonymous Coward
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10/18/2013 12:41 PM
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Re: Surprise! Debt-ceiling deal gives Obama a blank check: Loophole will allow government to spend WITHOUT LIMIT until February
Complete collapse is inevitable by the end of the fiscal year 2015.

They all know it and just keep kicking the can and trying to blame it all on the other guys...

Get out of the banks while you still can and prepare, they are.
Revbo™
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10/18/2013 12:41 PM

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Re: Surprise! Debt-ceiling deal gives Obama a blank check: Loophole will allow government to spend WITHOUT LIMIT until February
there is only ONE logical conclusion to all of this madness: they are purposely trying to detonate the economy. There is simply No Way Out.

We already passed the Event Horizon.
 Quoting: Stu


Yeah but if they were going to detonate the economy that way, all they had to do was continue the shutdown and default...
 Quoting: Saddletramp


What do you think it could be, ST? Another war? It seems to me, they know it's all over soon. Otherwise, they wouldn't have drained all those feds' pension funds before going into shutdown/default debate mode. Maybe, they thought whatever it is, was coming before we reached this point. The Syria thing could have been it, but Putin killed that. They could have easily gotten their blank check if that had happened, so I guess, slipping it in to the CR at the last minute under threat of default was the next best thing.
Rev. 21:4 He will wipe every tear from their eyes. There will be no more death or mourning or crying or pain, for the old order of things has passed away.
Stu (OP)

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10/18/2013 12:49 PM

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Re: Surprise! Debt-ceiling deal gives Obama a blank check: Loophole will allow government to spend WITHOUT LIMIT until February
note how the crisis timeline is getting shorter


THE SECOND COMING

Turning and turning in the widening gyre
The falcon cannot hear the falconer;
Things fall apart; the centre cannot hold;
Mere anarchy is loosed upon the world,
The blood-dimmed tide is loosed, and everywhere
The ceremony of innocence is drowned;
The best lack all conviction, while the worst
Are full of passionate intensity.

Surely some revelation is at hand;
Surely the Second Coming is at hand.
The Second Coming! Hardly are those words out
When a vast image out of Spiritus Mundi
Troubles my sight: a waste of desert sand;
A shape with lion body and the head of a man,
A gaze blank and pitiless as the sun,
Is moving its slow thighs, while all about it
Wind shadows of the indignant desert birds.

The darkness drops again but now I know
That twenty centuries of stony sleep
Were vexed to nightmare by a rocking cradle,
And what rough beast, its hour come round at last,
Slouches towards Bethlehem to be born?

- William Butler Yeats


( Note: no religious alliteration intended here)
_____________________________________
There is no use removing doubts one by one. If we clear one doubt another doubt will arise and there will be no end of doubts. But, if by seeking the doubter, the doubter is found to be really non-existent, then all doubts will cease. -- Ramana Maharshi


You have to keep breaking
your heart until it opens.

~ Rumi
--Voltaic--

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10/18/2013 12:52 PM

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Re: Surprise! Debt-ceiling deal gives Obama a blank check: Loophole will allow government to spend WITHOUT LIMIT until February
Sucking up wealth in dollars, convert to another form of wealth and let the dollar collapse.

Institute a new currency and transfer the converted wealth back into the new currency.


Should happen during the next great World War in the planning.
Do your absolute best and the rest is fate.
Saddletramp
We Don't Rent Pigs...

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10/18/2013 12:56 PM

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Re: Surprise! Debt-ceiling deal gives Obama a blank check: Loophole will allow government to spend WITHOUT LIMIT until February
there is only ONE logical conclusion to all of this madness: they are purposely trying to detonate the economy. There is simply No Way Out.

We already passed the Event Horizon.
 Quoting: Stu


Yeah but if they were going to detonate the economy that way, all they had to do was continue the shutdown and default...
 Quoting: Saddletramp


its called acclimatation and conditioning...that is all. A controlled collapse if you will.
 Quoting: Stu


Oh I've been saying for a long time it will be a controlled demolition..

I dunno, it sure could be a way to hyperinflate the system and destroy the dollar.

Another thing to consider, what if they need unlimited borrowing authority to buy back all of China's Treasuries through their direct link with the FED?!?!?
"And how can a man die better than facing fearful odds, for the ashes of his fathers, and the temples of his Gods..." ~ Horatius

"Because he told the truth, and once you've heard the truth, everything else is just cheap whiskey..."
Stu (OP)

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10/18/2013 01:00 PM

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Re: Surprise! Debt-ceiling deal gives Obama a blank check: Loophole will allow government to spend WITHOUT LIMIT until February
there is only ONE logical conclusion to all of this madness: they are purposely trying to detonate the economy. There is simply No Way Out.

We already passed the Event Horizon.
 Quoting: Stu


Yeah but if they were going to detonate the economy that way, all they had to do was continue the shutdown and default...
 Quoting: Saddletramp


its called acclimatation and conditioning...that is all. A controlled collapse if you will.
 Quoting: Stu


Oh I've been saying for a long time it will be a controlled demolition..

I dunno, it sure could be a way to hyperinflate the system and destroy the dollar.

Another thing to consider, what if they need unlimited borrowing authority to buy back all of China's Treasuries through their direct link with the FED?!?!?
 Quoting: Saddletramp



the Fed cannot continue to monetize unless the debt is expanding. If the budget is cut and the deficit is scaled back then outstanding Treasury sales must decrease. But that would collapse asset prices. So they're boxed in a corner.

Deflation (which is naturally healing) will not be allowed under any circumstances.
_____________________________________
There is no use removing doubts one by one. If we clear one doubt another doubt will arise and there will be no end of doubts. But, if by seeking the doubter, the doubter is found to be really non-existent, then all doubts will cease. -- Ramana Maharshi


You have to keep breaking
your heart until it opens.

~ Rumi
Knarfia

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10/18/2013 01:04 PM
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Re: Surprise! Debt-ceiling deal gives Obama a blank check: Loophole will allow government to spend WITHOUT LIMIT until February
Hello, everyone. Longtime lurker. Something in the milk ain't clean here, that's for sure. However, from what I gather, it is congress that controls the spending, is that not correct? I'm just putting that out there for those of you who are still convinced the GOP is any less evil that the Dems. Either way, it doesn't seem to matter- they clearly have one agenda, whatever that may be.
givingashit
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10/18/2013 01:06 PM
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Re: Surprise! Debt-ceiling deal gives Obama a blank check: Loophole will allow government to spend WITHOUT LIMIT until February
How much does disclosure cost, that's my question... among others...
Anonymous Coward
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10/18/2013 01:06 PM
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Re: Surprise! Debt-ceiling deal gives Obama a blank check: Loophole will allow government to spend WITHOUT LIMIT until February
Now the DHS can order and stock up on as many guns and ammo as theyd like now. I wonder what else theyll buy.
MaybeTrollingU

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10/18/2013 01:06 PM

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Re: Surprise! Debt-ceiling deal gives Obama a blank check: Loophole will allow government to spend WITHOUT LIMIT until February
I knew there was some sort of scheme/catch in this "deal"!
givingashit
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10/18/2013 01:07 PM
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Re: Surprise! Debt-ceiling deal gives Obama a blank check: Loophole will allow government to spend WITHOUT LIMIT until February
Well i'd trust an economist on that one...
Saddletramp
We Don't Rent Pigs...

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10/18/2013 01:19 PM

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Re: Surprise! Debt-ceiling deal gives Obama a blank check: Loophole will allow government to spend WITHOUT LIMIT until February
there is only ONE logical conclusion to all of this madness: they are purposely trying to detonate the economy. There is simply No Way Out.

We already passed the Event Horizon.
 Quoting: Stu


Yeah but if they were going to detonate the economy that way, all they had to do was continue the shutdown and default...
 Quoting: Saddletramp


What do you think it could be, ST? Another war? It seems to me, they know it's all over soon. Otherwise, they wouldn't have drained all those feds' pension funds before going into shutdown/default debate mode. Maybe, they thought whatever it is, was coming before we reached this point. The Syria thing could have been it, but Putin killed that. They could have easily gotten their blank check if that had happened, so I guess, slipping it in to the CR at the last minute under threat of default was the next best thing.
 Quoting: Revbo™


Here are some of the scenario's I see as distinct possibilities on why the feel like they need an unlimited spending authority for the next four months...

1.) China is about to dump their U.S. Treasuries via the direct link they have with the Fed. This will cause a world wide panic and fire sale of U.S. Treasuries.

2.) Comet ISON...some global cataclysm involving the comet (I haven't really been on that bandwagon before, so I don't know the nuances, but this political theater, the rash of firings and resignations, it all puts me in mind of the movie "Deep Impact" and ELE)

3.) They expect some other economic trigger to happen, such as a large bank going under or something of that nature.

4.) They are preparing for some false flag event that will bring in Martial Law, if so, expect that false flag in FEMA Region III.

If anyone else has any theories I think we should discuss all comers on this deal...
"And how can a man die better than facing fearful odds, for the ashes of his fathers, and the temples of his Gods..." ~ Horatius

"Because he told the truth, and once you've heard the truth, everything else is just cheap whiskey..."
Saddletramp
We Don't Rent Pigs...

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10/18/2013 01:21 PM

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Re: Surprise! Debt-ceiling deal gives Obama a blank check: Loophole will allow government to spend WITHOUT LIMIT until February
...


Yeah but if they were going to detonate the economy that way, all they had to do was continue the shutdown and default...
 Quoting: Saddletramp


its called acclimatation and conditioning...that is all. A controlled collapse if you will.
 Quoting: Stu


Oh I've been saying for a long time it will be a controlled demolition..

I dunno, it sure could be a way to hyperinflate the system and destroy the dollar.

Another thing to consider, what if they need unlimited borrowing authority to buy back all of China's Treasuries through their direct link with the FED?!?!?
 Quoting: Saddletramp



the Fed cannot continue to monetize unless the debt is expanding. If the budget is cut and the deficit is scaled back then outstanding Treasury sales must decrease. But that would collapse asset prices. So they're boxed in a corner.

Deflation (which is naturally healing) will not be allowed under any circumstances.
 Quoting: Stu


Yes, I have also said before the Fed needs to dump a large amount of "Negative Capital" from the sale of MBS and Treasuries (since the yield has been going up) onto the Treasury in the form of a "Negative Interest Deposit"...

That could be hundreds of billions of dollars...

Basically, the Fed needs to re-capitalize itself with our debt!!!
"And how can a man die better than facing fearful odds, for the ashes of his fathers, and the temples of his Gods..." ~ Horatius

"Because he told the truth, and once you've heard the truth, everything else is just cheap whiskey..."
Saddletramp
We Don't Rent Pigs...

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10/18/2013 01:25 PM

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Re: Surprise! Debt-ceiling deal gives Obama a blank check: Loophole will allow government to spend WITHOUT LIMIT until February
Another interesting deal, this bill originated in the Senate...I was under the assumption that was illegal, I thought these budget deals had to originate in the House and then go through the Senate.

I could be wrong on that, it might just be tax bills, but I thought I remembered something from Civics class about that...
"And how can a man die better than facing fearful odds, for the ashes of his fathers, and the temples of his Gods..." ~ Horatius

"Because he told the truth, and once you've heard the truth, everything else is just cheap whiskey..."

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