White House Warns of 'Debt Armaggedon' DOOOOM

DOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOM.

WASHINGTON — The White House warned Republicans on Monday that failing to raise the $14.29 trillion US debt limit would spark "Armageddon-like" consequences for the slowly recovering US economy.

As a new political showdown looms over the economy following a defused budget row last week, aides also said that President Barack Obama now realized his vote as a senator against raising the debt ceiling in 2006 was a mistake.

"The consequences ... of failure to raise the debt ceiling would be Armageddon-like in terms of the economy," said White House spokesman Jay Carney.

Congress must raise the US debt limit, or the maximum amount the Treasury is allowed to borrow, by May 16 or see the United States default on interest payments of its debt.

Rest of the story...

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People warn of debt armaggedon if the spending continues. But eh, let's forget that part.

Spending the US into oblivion is alright too... according to the criminals in power.

and Soros was just on Bloomberg telling
everyone that the US could handle the
extra debt. Yea, I believe that bastard just
about as much as I believe in the tooth fairy.

It seems that Obama is mimicking Soros'
agenda word for word.

Well it tells me one thing:
Obama can read the
Soros script.

Obama and Soros WANT to crash
and collapse the system so the
NWO can be implemented
and move to the world currency.

Yep, I said it.
Obama is helping to collapse
the country. This is the reason
why Soros got him elected.

Its like we are damned if we do, damned if we don't.

Or... it's like... would you prefer a cow # sandwich or a horse# sandwich?

for anyone familiar to accounting principles.
We all know that debt is not good.
However, if you're on the other end
of that debt and you are actually
the creditor like Soros and Rothschilds are,
then somebody else's debt becomes
your accounts receivable. Accounts
Receivables are listed as assets on financial
statements. So of course Soros wants
the US to borrow more from him and
Rothschild. That asset still stands on
the balance sheet when the new currency
is adopted which means America starts
out owing their soul to the elites once more.
Nice move for the Rothschilds and Soros.

Anybody who votes to raise the debt
ceiling any higher is only putting more
assets into the hands of the elites.

reply to post by truthdrug


Indeed, it's like those old cartoons where the character runs of the cliff but flaps their feet on air taking a while to fall. America just hasn't looked down yet.

reply to post by truthdrug

Don't worry about the debt ceiling - the US has a long and glorious history of raising it over the past decade whenever things get too close for comfort. It'd be political suicide otherwise - unless it can be pinned on a scapegoat. I'm looking at Bernanke...

A better gauge of DOOOOOOOOM is watching the dollar tank in comparison to soaring precious metals (silver and gold are hitting historic highs, with JP Morgan trying to suppress them), climbing oil prices, and watching big hitters betting against the dollar due to legit inflation fears (which might signal insider knowledge of an upcoming problem). Right now, all eyes are on the Fed and the possibility for a QE3 or interest rate hikes - neither of which are really expected, but noone but the crooks at the top can know for sure.

Yes, the debt ceiling is technically a "big deal", but you can expect it to get raised, making it almost a non-issue. Either way, the USD is set to tank within the next couple of years no matter what - everybody's starting to question the fiat ponzi scheme, and are looking for ways out.

Obama flip flops on decision of
raising debt ceiling.

In 2006 he voted against raising
the debt limit.

in 2011 he is asking Congress to do
the exact opposite.

www.foxnews.com...

I guess the best way to get rid of debt is to get another credit card.

How can they nation build the rest of the world without extended credit. The American tax dollar is already sucked dry. And they only have so much they can take from medicare medicaid and social security. Social security has already been drained for a while.

Raising the debt ceiling is like asking for a increase in your credit limit on a credit card. All it does is encourage more spending of money you don't have.

I suggest they balance the budget without raising taxes, include interest payments on the debt as well as a principal payment in that budget. As the GDP grows increase your principal payments and/or reduce taxes.

The country has to do what every other sane person does when they have debt. Pay it off as fast as you can.

Yep, some programs will have to be cut or eliminated, but that is just how it is. Just like at my house. When the money is tight, we eat beans and rice.

Originally posted by boondock-saint

Obama and Soros WANT to crash
and collapse the system so the
NWO can be implemented
and move to the world currency.

Umm You do know that besides the USD there are a bunch of other currencies that are doing rather well ? I mean You do understand that the USA is not the only major factor when it comes to the world fiscal system , and if the USD fails and other countries keep up their currency , there is no pressure to introduce a one world currency ?

In order to push a one world currency , we would have to drop the Chinese currency , the Great Britain currency , the Japanese currency , the Switzerland currency and from where I am sitting the only real problem is with the USD for now ...

So even today as they fight over what to take from US citizens and have a government shut down USAID still found a way to make a new deal to give away money to a country you might have never heard of.

www.ghanaweb.com...

Speaking at the signing ceremony, the Head of Development Cooperation of DANIDA, Mr. Jan Poulsen, said establishment of BUSAC Fund was based on the belief that when private businesses in Ghana flourish, many people would get decent jobs and would help many families to move out of poverty.

There giving away money to private businesses in Ghana for no other reason then a stimulus to there way of life at US tax payers expense.

key word... "For now"

There is nothing new about financial crisis. It is the same game repeated over and
over by the elite to keep us as debt slaves. In a way, you could say it is our own
fault. They offer us cheap money, extended credit, so we can buy all those shiny,
glittering baubles (that we don't really need) that everyone must have if they are
not to feel somehow deprived. We get into more debt than we can handle (Bankers
operate just like drug dealers) and end up slaves for lfe.
How many times are we going to fall for it? And what happens if we decide not to pay
our debts, to go on strike? They will make life hell, that's what. No money, no
food, no fuel, no electricity, riots, looting, mayhem, death, then a big war or three
to get rid of the rest of us. We never learn.

If you have the desire to see an economic recovery rather than a repeat great depression or world war, it would benefit you to study economic history from an ethical perspective and consider the parallels between our present global economic crisis and the ancient economic crisis in Athens

.
spiritofjubilee.com...

To be honest I was more concerned when Hulk Hogan became a bad guy.

That was more real than the system of currency post 1931.

Peace

Seems USAID has teamed up with Walmart to create a supply chain from South America to Walmart. I guess Walmart does not have enough money to supply themselves with products they have to get subsidized by the USAID or US tax payers. There not doing this in one country but several in South America.

www.usaid.gov...

The USAID-Walmart regional agreement builds on experience gained from previous collaborations in Guatemala, Honduras, Nicaragua and El Salvador. One of the lessons learned is that formal relationships between the suppliers and the corporate buyers provide the long-term perspective necessary to ensure the sustainability of the program. Another is that small farmers benefit greatly when buyers explain their quality and quantity standards and share their production calendars.

So is Hillary working for Walmart again. She runs USAID. She was the attorney for Walmart when they first started in business. Now shes the money paying for there next cheap product.

And why does Walmart need USAID to pay for there supply chain in any way. Didnt the Waltons get enough of a tax break.

walmartwatch.org...

Sen. Sanders: Proposed $32.7 billion tax break for Walton family “patently insane”

I read something the other day where someone asked how much wealth or money exist in the world. The answer to the wealth questions was a bit nebulous, but the amount of money in the world was some where in the 7-10 trillion range. I think world wealth was estimated around 40 to 50 trillion.

So to put our debt (14 trillion) in perspective, it is like twice the total amount of money in circulation and a third of the total wealth of the world.

money.howstuffworks.com...

Originally posted by EssenceOfSilence
I read something the other day where someone asked how much wealth or money exist in the world. The answer to the wealth questions was a bit nebulous, but the amount of money in the world was some where in the 7-10 trillion range. I think world wealth was estimated around 40 to 50 trillion.

So to put our debt (14 trillion) in perspective, it is like twice the total amount of money in circulation and a third of the total wealth of the world.

money.howstuffworks.com...

The US outstanding debt obligations are over $75 trillion when you factor in Social Security, Medicare, Medicaid... etc.

DOOOOOOOOM

Originally posted by truthdrug

Originally posted by EssenceOfSilence
I read something the other day where someone asked how much wealth or money exist in the world. The answer to the wealth questions was a bit nebulous, but the amount of money in the world was some where in the 7-10 trillion range. I think world wealth was estimated around 40 to 50 trillion.

So to put our debt (14 trillion) in perspective, it is like twice the total amount of money in circulation and a third of the total wealth of the world.

money.howstuffworks.com...

The US outstanding debt obligations are over $75 trillion when you factor in Social Security, Medicare, Medicaid... etc.

DOOOOOOOOM

Yep. That is future debt. The 14 T we owe today.

The 75 just lets you know where it is going if we make it that far.


I guess if they get that depopulation program in full swing they can cut that future debt in half!