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Silver Wheaton Corp. Message Board

  • ilap2004 ilap2004 Jan 7, 2013 11:14 AM Flag

    Pelosi, BO say we have to raise debt ceiling in order to repay our debt


    Pelosi on Face the Nation:

    "But the Congress has incurred much of this debt. So what are we saying? We incurred it, but we’re not going to pay it? If you want to say we’re not going to do it so much in the future, well, that’s another thing, but you can’t say I’m not paying my past debts."

    This is an echo of Obamer’s remarks from this past weekend:

    "One thing I will not compromise over is whether or not Congress should pay the tab for a bill they’ve already racked up,” Obamer said in his weekly address. “If Congress refuses to give the United States the ability to pay its bills on time, the consequences for the entire global economy could be catastrophic."

    So increasing the debt is about repaying the debt. So if somebody has say $10,000 in credit card debt, they have to increase it to $20,000 in order to pay it down, according to Pelosi and BO. Seriously.

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