The other day I was wondering what happened with the March 16 deadline facing the Government on its “suspended” debt ceiling limit. March 16 had come and gone without any media fanfare. It’s almost as if the White House demanded silence from the media on this.
So I googled the topic and found out that the debt ceiling limit was reset to $18.113 trillion. That is $1 trillion above where the outstanding debt was one year ago. But didn’t Obama tell us that the spending deficit in 2014 was only $483 billion? Pourquoi? If the amount of debt outstanding increased by a trillion, how can he claim the spending deficit was only $483 billion? Because he is a liar.
So Congress quietly approved raising the debt ceiling limit to $18.1 trillion and now the Treasury debt outstanding has busted through that ceiling: $18.152 trillion and counting.
For now the criminal Treasury Secretary, Jacob “Jack” Lew, is implementing a bunch of “legal” accounting moves that let him continue signing checks to pay the Government’s zealous overspending. “Accounting moves?” Sound more like a Ponzi scheme. What this means is that Lew is tapping into various dedicated trusts which has meager surplus levels of cash – like the Federal pension fund and the Social Security trust – in order to pay bills. But this avenue will hit a wall this year and then Congress will have to deal with the debt ceiling limit again.
It’s a truly sad, Orwellian state of affairs when the Government’s ability to continue issuing Congressional paychecks and welfare EBT debit cards boils down to accounting gimmicks…this country is pathetic (source: King World News):