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Question - Topic: News Related
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Be2net
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Posted On: 2012-12-11 16:38:46
Viewed: 1168
What the hek is the Debt ceiling?

I been hearing that Republicans as part of their quest to make sure that Taxes
on the Top 1% are not raised to Clinton era, during which era our economy was doing
great, maybe holding the Nation hostage to the Debt ceiling!

What the hek is the Debt ceiling?
And why it is all of a sudden in the news now and was not before for example leading to the $2-Trillion borrowed for the Iraq War ?

Answers & Comments: 2
mmerlinn
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1 year 9 months ago

Debt ceiling to the government is the same as a credit card limit to a credit card holder. It is the maximum amount of debt available to either.
ThinkDeep
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6 years 1 month ago

Debt ceiling does not mean Government borrowing more at all or issuing more Debt, it actually means Government paying the Debt (aka interest on Bonds) that it has sold to Bond investors.

So it is another Con Job of Republican lunatics and the right-wing Media to refer to the Debt ceiling as Government borrowing more since it is NOT that all but Government paying the bills that the Congress has already approved to pay, that is to issue Bonds for them.

Read this article for gr8 related info:
http://www.realnewspost.com/sa.php?a=61963



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Ad: We need a real People pow
It is high time that we The
People seek and create Parties
that represent our interest
and not just
Ad: For the real news and not
A News service powered by the
Social Network to get the
TRUTH out in contrast to the
mis-information