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SPDR S&P 500 ETF Message Board

  • xtgeminiman Sep 20, 2013 1:59 PM Flag

    Barry On The Debt Ceiling In 2006

    On March 20, 2006 the National Debt stood at $8.3 TRILLION.


    “The fact that we are here today to debate raising America’s debt limit is a sign of leadership failure. It is a sign that the U.S. Government can’t pay its own bills. It is a sign that we now depend on ongoing financial assistance from foreign countries to finance our Government’s reckless fiscal policies…

    Increasing America’s debt weakens us domestically and internationally. Leadership means that “the buck stops here.” Instead, Washington is shifting the burden of bad choices today onto the backs of our children and grandchildren. America has a debt problem and a failure of leadership. Americans deserve better.

    I therefore intend to oppose the effort to increase America’s debt limit."

    - Sen. Barack Obama (D-IL), March 20, 2006

    I agree with then Senator Obama and would appreciate it if he would follow through with his promise (for once).

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    • should be on the front page of every paper in the world

    • It's really just a question of what level of debt to GDP tosses us over the cliff. I really don't know what that level is but my guess is probably around 110 percent or above. Maybe it already began.

      If you ran your credit cards up to the max do you really think that if you called the bank and asked for a higher credit limit they would just give it ?

      I think that is has already started. There are cracks in the pavement. But that does not mean that the humpers won't try to get some more stocks up and reprice them higher. It's simply what they do.

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