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Politics : President Barack Obama
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To: RetiredNow who wrote (107218)1/10/2012 5:36:05 PM
From: RetiredNow  Read Replies (2) of 149317
 
Thread,
did any of you note that Obama is about to ask for another debt ceiling increase? If you all remember, the August 2011 agreement was to authorize $1.2 trillion that was supposed to last through the fiscal year end Oct'12, based on certain triggers.

Well, Obama has already burned through $900B of that, and we're only 3 months into the fiscal year and 5 months past the August agreement. That means that the remaining $300B needs to last for 9 more months. At the anticipated burn rate of at least $100B per month, there's no way that money is enough.

Do you all see what is happening? The more we borrow, the more we need to borrow, and it is NOT LINEAR. It is accelerating, which means the debt curve is looking like a hockey stick. There is NO WAY THIS IS SUSTAINABLE.

The only question left now is when will some of you on this thread wake up to these facts? Before it all blows up or afterwards?
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