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Obama Requests Another Debt Ceiling Raise

Obama formally notified Congress on Thursday of his intent to raise the nation’s debt ceiling by $1.2 trillion, two weeks after he had postponed the request to give lawmakers more time to consider the action.

Congress will have had 15 days to say no before the nation’s debt ceiling automatically is raised from $15.2 trillion to $16.4 trillion.

In a letter to House Speaker John A. Boehner (R-Ohio), Obama wrote that ”further borrowing is required to meet existing commitments.”

Obama had sought to make the request at the end of last month, when the Treasury came within $100 billion of its borrowing limit. However, with Congress on recess, lawmakers from both parties asked the president to hold off. The House is out of session until Jan. 17, and the Senate until Jan. 23.

Since then Treasury officials have used special revenue and accounting measures to maintain the nation’s solvency. Yet the White House cast the delay as a technicality, saying there is no chance the limit will not be increased, even if Republican lawmakers attempt to object.

 
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Added: Jan-13-2012 Occurred On: Jan-13-2012
By: jbpnw
In:
Politics
Tags: obama, debt ceiling, economy, congress, elections, politics
Views: 1077 | Comments: 43 | Votes: 1 | Favorites: 1 | Shared: 0 | Updates: 0 | Times used in channels: 2
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  • Most dangerous president ever.

    Posted Jan-13-2012 By 

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  • LMFAO!!!

    Worst President Ever!

    Posted Jan-13-2012 By 

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    • @VikingRapeSquad In my opinion, a stupid zionist puppet who is just following his masters orders. Politicians are there to give you the illusion you have freedom of choice, you don't.

      Posted Jan-13-2012 By 

      (-3) | Report

  • Part of the problem is Congress has established a system that automatically increases debt ceiling unless they do something.

    The system should not do anything unless Congress acts.

    Posted Jan-13-2012 By 

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  • Just add it to the list of his endless stupid decisions.

    Posted Jan-13-2012 By 

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  • Hey Obama how about cutting back on SPENDING!

    Posted Jan-13-2012 By 

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    • @WE ARE POWER Or raise taxes on the rich, decrease military spending and cut back on a few spending programs and have the debt solved by 2026.

      Repealing the Bush tax cuts is one of the biggest factors in solving the deficit and congressional Republicans continue to refuse to even consider it.

      Posted Jan-13-2012 By 

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    • @BigDaddyHarrison

      dude you and I BOTH know if we took every penny the rich had and gave it to the Federal government those SOB's in Washington would just spend it to buy more votes and keep themselves in office.

      Posted Jan-13-2012 By 

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    • @WE ARE POWER Or pay off the deficit. Besides they already do give tons of money to the SOB's in Washington. The top .05% funds 90% of political campaigns. Why is it that since this started happening more and more in the 80s they get lower and lower taxes. They after all benefit the most from this sort of thing don't they?

      Why is it that they're making more money than at anytime in history while the average worker's wages remain stagnant? Why do CEO's make 400:1 when compared to workers?

      Why More..

      Posted Jan-13-2012 By 

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    • @BigDaddyHarrison

      As to Clinton and surplus...you need to remember it was Congress...a REPUBLICAN Congress gave us the budget when Clinton was the President.

      Congress has the “power of the purse.” And under the Constitution, it is Congress’s job to actually write and pass the budget.

      Posted Jan-13-2012 By 

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  • This is why America is better than everyone else. Lesser countries would raise the debt ceiling, we will build a debt skyscraper! I bet when we're done, you could launch a satellite just by throwing it out the window.

    Posted Jan-13-2012 By 

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  • Comment of user 'whodat' has been deleted by author (after account deletion)!
  • LOL,and America is still going to vote his ass back in there,or possibly Romney,.
    you deserve what you get My sacred Nation,..!

    Posted Jan-13-2012 By 

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  • Stop Spending - - - Balance The Budget - - - Or Give Me My Money Back ! ! !

    Posted Jan-13-2012 By 

    (1) | Report

  • Start printing that money... can't wait till hyperinflation kicks in and a loaf of bread costs 2 million dollars...

    Posted Jan-13-2012 By 

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  • This article is a little misleading. The ceiling will raise automatically unless Congress and the President all vote to not allow it to raise. What do you think is going to happen?

    Posted Jan-13-2012 By 

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  • that is some insane debt

    Posted Jan-13-2012 By 

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  • we're the only ones panicking..they display this great common good and 'partisan'/'bi-partisan' politic rhetoric....they have no intension to fix anything..if they did, they wouldnt have anything to play against each other....we are the fools, govt. has gotten too big..why do they keep coming up with new laws?

    Posted Jan-13-2012 By 

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  • Has it ever occurred to that jackass to cut spending?

    Posted Jan-13-2012 By 

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    • @JetRanger He tried that and you retards screamed like 5 yr old schoolgirls.

      "He's weakening the military, we wont be safe" wwwwwwaaaaaaaaaaaa

      Posted Jan-13-2012 By 

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    • @cdlcrash

      "You retards"?

      Who the fuck are you talking about?

      I'm not even American. If anything retards (as you put it) like you are the ones who put him there.

      time for you to take your right hand off your dick and move out of your mom's basement.


      Don't forget to get a job on your way out.

      Posted Jan-13-2012 By 

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    • @cdlcrash

      p.s. I fucked up... I admit it: I meant to vote your idiotic comment down.

      Please continue to go fuck yourself.

      Posted Jan-13-2012 By 

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    • @JetRanger Ever occur to you jackasses to repeal Bush tax cuts and cut military spending. If we did both of those things we could keep many of our programs that actually have positive externalities.

      Obama is willing to make spending cuts but he wants to be met half way on taxes on top tier income earners. They're lower than they've ever been and our nations 2 longest and greatest periods of economic growth and expansion were under JFK/Johnson (Liberals who raised taxes on the rich) and Bill Cli More..

      Posted Jan-13-2012 By 

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    • @JetRanger

      LOL you kicked his ass with that comment.

      Thumbs up!

      Posted Jan-13-2012 By 

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  • You gnomes realize that your hero Republitards have already approved this in the great debt ceiling debacle and that the POTUS cannot spend a penny without congressional approval right?

    From thehill.com

    "The boost will be the third and final increase to the ceiling under the debt-limit deal struck in August, and is intended to cover the government's borrowing through the 2012 elections. The summer deal states that the increase would be effective in 15 days without action by Congress.
    More..

    Posted Jan-13-2012 By 

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  • If this isnt a good enough reason to scale back the war and cut as much federal spending as possible then spank my monkey and call me Randolph.... Or go bankrupt

    Posted Jan-13-2012 By 

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    • @mcphuk Some of the politicians are in favor of MORE war, thats what McCain ran off of, staying in Afghanistan for double the amount of time. That is the problem with us americans, nothing is ever good enough, we need MORE MORE MORE, and that is exactly what we will get, more inflation.
      I like your avatar, that is what we as a fat lazy society are...McFucked.

      Posted Jan-13-2012 By 

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    • @Miznojo
      Thats what happens in a debt based, government subsidised globalist society. If shit stops growing it all collapses. When you send all the low skill labour work overseas, that's going to leave a lot of people without the money to sustain the lifestyle they've become accustomed too, not to mention the fact that when the individual stops earning they become another weight hanging from the economy and no how big or strong the economy is, there is only so much weight it can withstand befo More..

      Posted Jan-13-2012 By 

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  • It's really up to Congress to let it pass or not but since Congress is infiltrated by zionist jew bankers it's going to get passed wether a majority of the American people would disagree. When it get's passed it will give a green light to the (zionist controlled)Fed to start up their money printers and raise the debt ceiling even further.

    Posted Jan-13-2012 By 

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