House raises debt ceiling to avoid US default

RT: House raises debt ceiling to avoid US default




Posted on January 23, 2013 by Jean


Published: 23 January, 2013, 21:05



The opening session of the 113th US House of Representatives at the US Capitol in Washington. (AFP Photo / Saul Loeb)




The House voted on legislation Wednesday that will raise the debt
ceiling for three months and delay a US default. Even though this is
just a short term fix, the Obama administration said it supports it.

The legislation prevented a devastating default of US debt and
payments next month and instead give Congress three more months to come
up with an agreement on the budget, taxes, spending and the deficit. The
move would cause the congressional budget battles to once again take
place – but this time in March.

The legislation contains a “no budget, no pay” segment that ensures
both House and Senate members will no longer receive their paychecks if a
budget isn’t agreed upon by April 15, putting further pressure on
legislators to come up with a plan. Although President Obama prefers a
long-term solution and said incremental increases in the debt ceiling
ultimately harm the economy, continued disagreement in Congress has
prompted him to support the extension. While House Democrats appear
widely opposed to the measure, Senate Democrats are reluctantly
supporting it, AP reports.

The March talks will come at a time when automatic spending cuts are
set to go into effect and severely affect the Pentagon budget. The
military would face a 30 percent reduction in operating costs for Army
posts, while the Pentagon would have to determine how it could come to
terms with $500 billion in cuts over the next decade.

“The fiscal situation and outlook are serious. Our funding is in
doubt as we support forward-deployed troops, those training and Wounded
Warriors,” wrote Army Secretaries John McHugh and Gen. Raymond Odierno in a letter to commanders.

The automatic cuts would trim $85 billion from the 2013 budget, which
the GOP plans to re-sequester during the next budget battle. Members of
Congress who oppose the spending cuts will be forced to come up with an
agreement on how to replace them, if they want to come up with an
agreement on the deficit. A battle on raising taxes will likely ensue.

“We feel by moving the issue of raising the debt ceiling behind
the sequestration … that we reorder things in a way that Democrats will
have to work with,” Rep. John Fleming, R-La., told AP. “The
cuts are the kind of cuts we want, they’re just not in the places we
want. But they’re also not in the places that the Democrats want. So
hopefully they’ll be forced to come to the table and work with us on a
bipartisan basis to put them where they need to be, where it has the
less pain.”

The three-month extension allows Congress to prolong talks about the
$16.4 trillion deficit and it has caused stock markets to trade
cautiously on Wednesday. By midafternoon in Europe, stock indexes were
lacking momentum and Wall Street opened with equally little momentum, as
the markets were awaiting the vote in Congress.

The credit agency Fitch Ratings said this
month that it would consider downgrading America’s credit score if
there is any sort of delay in coming up with a budget plan to raise the
debt ceiling by March 1. The agency has not commented on Wednesday’s
vote, but the move might prompt it to lower the US credit rating,
thereby lowering international trust in US borrowing.

With the economy depending on the decision that lawmakers will be
forced to come up with to avoid a default, the uncertainty about the US
economic future has once again been prolonged with the extension as
partisanship continues to rage through Congress.

“The sequester is arbitrary, but the fact is that when the
sequester goes into effect… it will have a pretty dramatic effect of
people’s attitudes here in Washington, and they may get serious about
cuts to the mandatory side of the spending equation,” said Speaker of the House John Boehner.


Thanks to: http://jhaines6.wordpress.com


NOTE!: This is not good news for an RV folks... not good at all!!!

The old system needs to 'fail', so the new one can be implemented, and Spookytooth knows this, that's why he keeps fuckin' around-I just wish someone would off the bastard and be done with it-

Trouble with that theory T is him not being there would not change a thing. Think bigger..... :)

Yes, the Bushes and George Soros-The end result is the same-Death and shame is the name of their game-

Taking out Obama is like spittin' into a 50 mile an hour wind. The backups are in place and ready to carry on with business. Until things get serious, as the latest Anonymous video suggests....
We have no right to complain I guess. Until we literally take this to the street nothing will transpire. It is that simple. This needs to be a unified demand with millions on the Government Centers lawns in their community and demand this ends. We have been left with no choice. It really is time globally to act.

They just need to get their sorry asses in gear, and get it done- We are all tired of watching our country go down the shitter, and no RV to make it worse- Sometimes I ask myself what the hell was I thinking-And at the time, I probably wasn't-

Well, now, the occupy movement was pretty much gloabal, and not too many visible results came from that, so I don't know. People are so damn busy just trying to make ends meet, most feel that they can't financially afford to take off of work to protest! And until something is announced people are too afraid to risk not making those house and cc payments. One thing is foresure, raising the debt ceiling is not the answer, better to default and announce NESARA!

I'm thinking that's what they should have done in the first place, the dumbasses- Alot of things need to change, or we're all going to be shafted if we're not already, BUT- I'm thinking differently about this NESARA thing-

Well I tell you this: Trying to start a revolution sure is hard work!!! Always excuses to why one can not participate. I am not pointing fingers here and I totally understand but it is very frustrating when we all know what is wrong and feel the lack of involvement is a huge part of the reason it stays this way.
On one hand I have people saying the "helpers" are all around us. Stay strong, hold the course, keep rattling cages.
We have our spokespersons contradicting themselves and others on a daily basis. We have taken on the duty to wake people up. Well we are awake... NOW WHAT?????
Sorry to turn into a total whiner here but I am so tired of sitting back and watching the freak show that are the so called rulers of this planet.
So....Society you may now go back to your tellies and watch your sitcoms while eating your gmo poison laced microwave popcorn (present company excluded). I will continue on trying to start my little revolution. I will continue to scream of the injustice while manifesting the new roof and fence that the 60 mile an hour wind helped me with to get my stupid insurance company to replace. Thank you wind!!! Now that is progress I can see!!!

The American people are to far gone to protest anything. Fear rules. It would take an event of epic proportions to get the sheeple to hit the streets.

EXCUSE ME??? WTF was with that statement? It sounds to me, instead of being part of the answer, you are american also, and to me you are part of the problem-If we all got together to rectify this situation, instead of saying, 'Ho, fucking hum', maybe something would have been done about it by now-If we were too far gone, none of us would be here talking about it,because nobody would give a shit, would we now?

Well the way I see it....
The americans are lazy and riddled with fear. Check out the news that floods in from around the globe and one can see others that actually get out into the streets and demand change... just saying...

Hopefully we all find an avenue to enlighten those who are in the dark. To help people understand the truth when its totally contrary to their belief system is quite the task. Quite the task indeed.....

Yep topspin... it is a dubious task for sure.

But hopefully we are up for it.

I just realized what my problem here is today.... the full moon is 2 days away. Had I looked at the calendar yesterday I would have known why I am so frustrated by the lack of progress.

So thanks to all for bearing with me today. Darn moon... gets me every time.

Purps......This life is to learn......Sometimes we enjoy our lessons, sometimes we dont like them so much, but we learn from all of them. What is in store for us is so far beyond this life that to understand that makes this life so much more bearable. Smile, love, and help others........and try and understand that "perception" is so important......and.......There is nothing wrong with "hitching your wagon to a star".....

Awww... that might be the nicest thing I ever heard topspin. But I think my star is already hitched to a star... Orion. :)

I often get visitors at work. They come to tell me things. This is people I do not know nor have never seen or met. Its odd,,,,yes. However, my last visitor came and told me that I was sent here from a distant galaxie for a paricular purpose, one of which I will spare you the details, but interesting none the less. So....We are star allies purps......and its so awesome to know the truth......

Well tell them to look me up. I have many questions that I may or may not know the answers to.

I mentioned before that I think I have been introduced... but in the oddest way. Tell me what you make of this...

It was early spring, last year, and very dark outside because of rain. It was about 8:30 in the morning. My office is 3 sides glass windows on a main highway. I don't remember why... but I rose from my chair to look out the window and I watched this big old car, maybe an Impala, float down the road in the center turn lane. But from way up the street so it caught my attention.It was like in slow mo. As I watched the car turned it into the drive at work and there was a very small elderly man behind the wheel of the car. He could barely see over it. He parked, but not in a parking spot. Just kind of pulled in and stopped. He walked very slowly through the rain where I stood and came in and asked me directions to a store that was literally 25 feet down the road to the south. I gave him the directions and offered him a umbrella to get back to his car which he declined and thanked me and walked slowly back to his car. He put the car in gear. Turned around but then stopped again and came back into the office to say, "You are a very nice woman. I want you to know that I do not say that to many, so I really mean it." I am sure I turned 10 shades of red as he turned and left. He then turned the opposite direction from the store, going north and again drove down the center turn lane. When he left... I said to myself that I had just been visited. I could not shake the feeling of this meeting and it pops into my head often.

It was such an odd thing.