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9/22/2017 12:11:25 AM
Posted: 3/6/2006 7:34:38 AM EDT
www.washingtonpost.com/wp-dyn/content/article/2006/03/06/AR2006030600635_pf.html

Treasury Dept. Moves to Avoid Debt Limit

By MARTIN CRUTSINGER
The Associated Press
Monday, March 6, 2006; 11:11 AM



WASHINGTON -- Treasury Secretary John Snow notified Congress on Monday that the administration has now taken "all prudent and legal actions" to keep from hitting the $8.2 trillion national debt limit.

In a letter to Congress, Snow urged lawmakers to pass a new debt ceiling immediately to avoid the nation's first-ever default on its obligations.

"I know that you share the president's and my commitment to maintaining the full faith and credit of the U.S. government," Snow said in his letter to leaders in the House and Senate.

Treasury officials, briefing congressional aides last week, said that the government will run out of maneuvering room to keep from exceeding the current limit sometime during the week of March 20.

© 2006 The Associated Press
Link Posted: 3/6/2006 7:37:14 AM EDT
Stop spending.
Link Posted: 3/6/2006 7:40:24 AM EDT
[Last Edit: 3/6/2006 7:42:22 AM EDT by TodaysTomSawyer]

Originally Posted By go3:
Stop spending.



Yeah, that was kinda my thought.

I didn't realize that "all prudent and legal actions" translated to ask congress to raise our charge account limit.
Link Posted: 3/6/2006 7:41:43 AM EDT

Originally Posted By go3:

Stop spending.




Most spending is now "off budget"


It's fixed, Congress can't do much to change it. Entitlements come to mind........
Link Posted: 3/6/2006 7:41:56 AM EDT
[Last Edit: 3/6/2006 7:42:35 AM EDT by Admiral_Crunch]
We're doomed. I can only hope that I'm not still around when the whole government finally collapses.
Link Posted: 3/6/2006 7:42:16 AM EDT

Originally Posted By go3:
Stop spending.



Sounds nice in theory, don't it?

Care to guess how any attempt to reduce spending will go over with the democrats in Congress??

Or the MSM??

Remember what happened last time the Republicans tried to cut spending??

Government shutdown? The Gingrich who stole Christmas? Any of that ringing a bell?

People complain about spending all the time....and then complain when programs are cut.

Link Posted: 3/6/2006 7:49:21 AM EDT
So basically if they can raise the debt limit anytime they want, then in theory there really isn't a limit at all...
Link Posted: 3/6/2006 7:49:52 AM EDT

Originally Posted By MaineAR:

So basically if they can raise the debt limit anytime they want, then in theory there really isn't a limit at all...




Stop using Logic. It doesn't work inside the Beltway
Link Posted: 3/6/2006 7:52:18 AM EDT

Originally Posted By fight4yourrights:

Originally Posted By go3:

Stop spending.




Most spending is now "off budget"


It's fixed, Congress can't do much to change it. Entitlements come to mind........



Congress can do everything to change it. They were just smart enough to make them self-perpetuating. Thus they don't have to be bothered spending the largest shares of our budget.
Link Posted: 3/6/2006 8:07:07 AM EDT

Originally Posted By SmilingBandit:

Originally Posted By fight4yourrights:

Originally Posted By go3:

Stop spending.




Most spending is now "off budget"


It's fixed, Congress can't do much to change it. Entitlements come to mind........



Congress can do everything to change it. They were just smart enough to make them self-perpetuating. Thus they don't have to be bothered spending the largest shares of our budget.




Yes, technically they can change their laws.

Realistically, they can't. Imagine trying to cut the rate increase in Social InSecurity. Almost impossible to do. Forget about making a real cut.

Same for Medicare, farm subsidies, you name it.
Link Posted: 3/6/2006 8:09:31 AM EDT

Originally Posted By fight4yourrights:

Originally Posted By SmilingBandit:

Originally Posted By fight4yourrights:

Originally Posted By go3:

Stop spending.




Most spending is now "off budget"


It's fixed, Congress can't do much to change it. Entitlements come to mind........



Congress can do everything to change it. They were just smart enough to make them self-perpetuating. Thus they don't have to be bothered spending the largest shares of our budget.




Yes, technically they can change their laws.

Realistically, they can't. Imagine trying to cut the rate increase in Social InSecurity. Almost impossible to do. Forget about making a real cut.

Same for Medicare, farm subsidies, you name it.



True enough.

I just tire of hearing that there's all of this budget that's out of Congress's control.
Link Posted: 3/6/2006 8:09:41 AM EDT
Link Posted: 3/6/2006 8:09:55 AM EDT
Drop the 86 MG ban and start collect the taxes once again!
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