US to Hit Debt Ceiling on Monday

[Gregg]

Tim Giethner said today that the US will hit the $16.394 trillion debt ceiling on Monday, Dec. 31, 2012 (http://money.cnn.com/2012/12/26/news/economy/debt-ceiling/index.html?hpt=hp_t1). The hits just keep on coming!

Suggestions? Thoughts? Anyone think it still matters?

[Alan]

Reaching the debt limit is a big deal. If you can't borrow money you can't make payroll.

I understand the President is returning from vacation early in order to save the day, so I'm sure it's all good.

[creaker]

I remember last time - big build-up by the media, and then it was like "but they can delay the impact for a few weeks".

[Gregg]

I think it SHOULD be a big deal, but in this day and age, when kicking cans has been elevated to an art form, it's hard to imagine much of an impact.

[freein05]

People are standing in line to buy US notes and bonds at these low low rates. It js an artificial ceiling. The president is flying back but the republican congress does not plan on being in secession. I guess the republicans want to take the blame for everything.

[Alan]

I guess the republicans want to take the blame for everything.
There aren't enough Republicans to feed Tyrannosaurus Debt!


http://www.youtube.com/watch?v=0efqnvYz4YI

[ApatheticNoMore]

Yea true, they are only keen on feeding it under Republican presidents