Michelle Malkin » Request for Debt Ceiling Increase Coming ‘In a Matter of Days’

Request for Debt Ceiling Increase Coming ‘In a Matter of Days’

By Doug Powers • January 10, 2012 04:31 PM

**Written by Doug Powers

While many of us are distracted by GOP primary season, something more expensive is about to happen. The request for a $1.2 trillion debt ceiling increase was delayed for various reasons over the holiday break, but all good things must come to an end:

The Obama administration will be asking Congress to raise the debt limit in the coming days, White House press secretary Jay Carney said on Tuesday.

“I’m confident it will be executed in a matter of days, not weeks,” he told reporters.

The notification by the administration — which had been scheduled for last month — was delayed because Congress has been holding only pro forma sessions.

Why wouldn’t the President just wait until Congress goes to lunch or run to the john so as to justify a “recess debt ceiling increase”? After all, we can’t wait. Maybe I shouldn’t give them any ideas.

**Written by Doug Powers

Twitter @ThePowersThatBe

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Posted in: Barack Obama,Politics

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Comments

#1

On January 10th, 2012 at 4:33 pm, Rogue Cheddar said:

Obowmao (channeling ILMC): Hey Ma, can I have an advance on my allowance! I need to buy the new Reggie Love action figure!
#2

On January 10th, 2012 at 4:45 pm, drbulb said:

Shut. It. Down. And before the screaming starts about SS checks for grandma and paychecks for the military, let’s shut down the DOE, the DOE, the EPA, and all the rest for one week each month first and see if America notices…
#3

On January 10th, 2012 at 4:59 pm, J S Ragman said:

Excuse me Barry, but what did you do with the last $1 trillion I gave you?
#4

On January 10th, 2012 at 5:03 pm, Bertram Cabot Jr. said:

Barry needs to take the Dave Ramsey course!
#5

On January 10th, 2012 at 5:03 pm, letget said:

I have as much faith in our spineless(most) R’s in dc to stop this as I have that bho won’t have his face on the tube every day for the next 9 months! Belive it or not, OUR Republic will not crater if the debt ceiling is not increased. Have a tiny bit and I mean tiny bit of testosterone R’s and stop bho’s unconstitutional krap!
L
#6

On January 10th, 2012 at 5:06 pm, Ed Mahmoud abu al-Kahoul said:

Wouldn’t it be nice if Weepy McBoner not only said he was going to stand up to POTUS, but actually did it?

Maybe demand the budget cuts be shifted from the military to the bloated SEIU employing Fed bureacracy? Maybe Obama wait until Congress is actually in recess before making recess appointments?

I see another moment of faux spine from Weepy and McConnell, followed by a quick fold once the first CBS News story about homeless kids caused by Republicans runs.

Now that Bachmann is out of the primaries, I wish she’d challenge Weepy for the Speaker’s gavel.
#7

On January 10th, 2012 at 5:12 pm, swede said:

J S Ragman said:

Excuse me Barry, but what did you do with the last $1 trillion I gave you?

Sheesh. You think golf is cheap? And there’s shovel ready… Obumpkin can excavate 1.5 cubic yards of earth with that 9 iron, on a good day!
#8

On January 10th, 2012 at 5:16 pm, Pasadena Phil said:

Rand Paul wrote a letter to Obama last week declaring that he will oppose any more increases to the debt ceiling. We are about to find out whether he meant it. If he does stand up to it, it should help his dad’s campaign.
#9

On January 10th, 2012 at 5:17 pm, happyscrapper said:

Is Congress back? I haven’t heard that. Or is Obama going to just.do.it because he wants to. I hear he is ignoring Congress anyway, so they may as well not bother coming to work.

I know why he wants to raise the debt ceiling. He has his itinerary for 2012 and it includes 1/2 billion worth of Hollywood galas in the WH, plus another 1/2 billion for trips, abroad and campaigning. Think I’m joking? Do you see a sarc tag?
#10

On January 10th, 2012 at 5:22 pm, thejim said:

Don’t count on BooHoo & Crew. They are just as guilty of wrecking this country as Obamanation, himself. However, it could be interesting to see who & what our Repub candidates manage to come up with, if anyone asks them.
#11

On January 10th, 2012 at 5:30 pm, peteee said:

Pasadena Phil said:

sorry, but the increase is already agreed to in the last whimp session. if they didn’t make the cuts, automatic cuts go into place (which any congress can make null and void), then a second truck gets to backup to the fed for more funnt money. paul can grandstand all he wants, it’s a done deal.

and on a sunny note, we are quickly catching up to greece, lets get out coffee, sit at the sea side resorts, and act indignant over the cuts proposed by the gubmint. we are now over 100% debt to gdp, hip hip hooray!!
#12

On January 10th, 2012 at 5:35 pm, Mister P said:

Wasn’t the only result of the last fight a quasi reduction in the military budget?
#13

On January 10th, 2012 at 5:43 pm, Hangfire said:

If I was a radar operator, and saw a blip moving at high-speed towards the Capitol building……

…….and needed to refill my coffee cup……..

…….I would be in a real moral dilemma.
#14

On January 10th, 2012 at 5:43 pm, cabrerski said:

Still hoping for that big meteor to strike D.C. during the State of the Union address. Maybe the only thing that can save this country.

The Dems are driving the speeding car to the edge of the cliff while the Reps are gently applying the brakes…barely.
#15

On January 10th, 2012 at 5:51 pm, AmericaFirst said:

One dope to blame…

John Boehner (R)INO
8th District OH
House Majority Leader

Washington, D.C. Office
(202) 225-6205
#16

On January 10th, 2012 at 5:53 pm, Pasadena Phil said:

On January 10th, 2012 at 5:30 pm, peteee said:

Deal or no deal, something can be done to break the deal. “The Twenty” didn’t sign off on any deal and threw a monkey wrench into the one-party machine. That trick gets better the more it’s used.

It also puts the GOP candidates on the hot seat where Ron Paul could separate himself from the “Democrats” he is running against.
#17

On January 10th, 2012 at 5:54 pm, Yumpin Yoda said:

On January 10th, 2012 at 5:43 pm, cabrerski said:
Still hoping for that big meteor to strike D.C. during the State of the Union address. Maybe the only thing that can save this country.

The Dems are driving the speeding car to the edge of the cliff while the Reps are gently applying the brakes…barely.

I’m beginning to hope that the Mayans were right.
#18

On January 10th, 2012 at 5:55 pm, 123upnorth said:

If O’Communist wants to get a yes vote on the debt ceiling being raised, all he has to do is strike at Iran, then talk about the need to ‘see this through to the end’ and then tie together the new conflict with his request for the ceiling increase. Anyone who votes no can be labelled as soft on national defense, anti-american and anti-freedom.

War is so good in so many ways, except when it eventually leads to bankrupting the nation. But one can always ask the Federal Reserve to print more money. While money doesn’t grow on trees, it certianly can be produced from a printing press.
#19

On January 10th, 2012 at 6:04 pm, LiveFreeOrDie_2011 said:

On January 10th, 2012 at 5:43 pm, cabrerski said: Still hoping for that big meteor to strike D.C. during the State of the Union address. Maybe the only thing that can save this country.

If only……
#20

On January 10th, 2012 at 6:04 pm, Pasadena Phil said:

Exit polls are showing that Romney is 5% ahead of (how can this be?) Huntsman. Did they allow ANY Republicans to vote in this primary or is it all Democrats?

I was born and grew up in NH. This is NOT the NH I remember. That is the MA I remember. So it looks like Romney is going to sweep the all-white small states.
#21

On January 10th, 2012 at 6:07 pm, Iowa Guy said:

Someone has got to pay for these Hollywood celebrity parties…
#22

On January 10th, 2012 at 6:07 pm, LiveFreeOrDie_2011 said:

Ron Paul defends Romney. At least one of them has the balls to defend capitalism.
#23

On January 10th, 2012 at 6:09 pm, thejim said:

Romney is a NH “Local boy”, he has a home there. He is not a SC local and I suspect we will see a different result there.
#24

On January 10th, 2012 at 6:12 pm, Yumpin Yoda said:

On January 10th, 2012 at 6:04 pm, Pasadena Phil said:
Exit polls are showing that Romney is 5% ahead of (how can this be?) Huntsman. Did they allow ANY Republicans to vote in this primary or is it all Democrats?

I was born and grew up in NH. This is NOT the NH I remember. That is the MA I remember. So it looks like Romney is going to sweep the all-white small states.

This thread is about the debt ceiling.
You’re off topic once again.
As usual.
Go peddle Ron Paul to the OWS crowd – that seems to be his base.
#25

On January 10th, 2012 at 6:16 pm, Mister P said:

Anyone hear that there is question about Romney being eligible to be president. Apparently his father was born in Mexico.
#26

On January 10th, 2012 at 6:16 pm, Paratus said:

I know it’s a dumb question, but why do they still call it a debt “ceiling”? Similar to a free lunch, or Obama saying he isn’t a socialist.
#27

On January 10th, 2012 at 6:17 pm, Mister P said:

At least one of them has the balls to defend capitalism.

How can Romney be a capitalist if he supported TARP?
#28

On January 10th, 2012 at 6:20 pm, Mister P said:

Rand Paul wrote a letter to Obama last week

Did he send it?
#29

On January 10th, 2012 at 6:43 pm, LiveFreeOrDie_2011 said:

How can Romney be a capitalist if he supported TARP?

He didn’t defend Romney on Tarp. Let’s take your question a step further. How can one be a Republican if they supported TARP?
#30

On January 10th, 2012 at 6:45 pm, AlohaGuy said:

Mister P said:

Anyone hear that there is question about Romney being eligible to be president. Apparently his father was born in Mexico.

Brian Williams had a show last night all about $3000 suits a $400 haircuts – no wait, that was his “just folk” (99% of us can’t afford it) attire – the show had a piece on the Romneys in Mexico. There’s a whole clan there. Something about grandad or great-grandad going there because of bigamy…Oddly, they all seem to have dual-citizenship, so Mitt’s dad George was technically an American, and Mitt was born in the US. Or something like that.

Anyway, I was stunned at the coincidence of having a piece about Romney on the eve of the primary. I’m sure it was an inadvertent scheduling error.
#31

On January 10th, 2012 at 6:50 pm, Pasadena Phil said:

On January 10th, 2012 at 6:12 pm, Yumpin Yoda said:

Grown ups talking here. Please take your childish thread police act to the sand box with the rest of the children. Have a nice day. And don’t forget to brush your teeth before you go to bed.
#32

On January 10th, 2012 at 6:58 pm, sb36695 said:

Since it’s worked so well, why not give them more?!
#33

On January 10th, 2012 at 7:00 pm, John Deaux said:

On January 10th, 2012 at 5:43 pm, Hangfire said:

If I was a radar operator, and saw a blip moving at high-speed towards the Capitol building……

…….and needed to refill my coffee cup……..

…….I would be in a real moral dilemma.

Probably just a bird. Coffee’s getting cold.
#34

On January 10th, 2012 at 7:05 pm, Truesoldier said:

Just got these jokes from a co-worker and thought you all would get a kick out of them:

George Bush, Queen Elizabeth, and Vladimir Putin all die and go to hell.
While there, they spy a red phone and ask what the phone is for. The devil tells them it is for calling back to Earth.

Putin asks to call Russia and talks for 5 minutes. When he is finished the devil informs him that the cost is a million dollars, so Putin writes him a check.

Next Queen Elizabeth calls England and talks for 30 minutes. When she is finished the devil informs her that the cost is 6 million dollars, so she writes him a check.

Finally George Bush gets his turn and talks for 4 hours. When he is finished the devil informs him that the cost is $5.00.

When Putin hears this he goes ballistic and asks the devil why Bush got to call the USA so cheaply.

The devil smiles and replies, ” Since Obama took over , the country has gone to hell, so it’s a local call.”
#35

On January 10th, 2012 at 7:06 pm, Truesoldier said:

Here is the 2nd joke:

Five surgeons from big cities are discussing who makes the Best patients to operate on.

The first surgeon, from New York, says, ‘I like to see accountants on my operating table because when you open them up, everything inside is numbered..’

The second, from Chicago, responds, ‘Yeah, but you should try electricians!
Everything inside them is color coded.’

The third surgeon, from Los Angeles, says, ‘No, I really think librarians are the best, everything inside them is in alphabetical order’

The fourth surgeon, from San Francisco chimes in: ‘You know, I like construction workers….Those guys always understand when you have a few parts left over.

But the fifth surgeon, from Washington, DC shut them all up when he
observed: ‘You’re all wrong. Politicians are the easiest to operate on.
There’s no guts, no heart, no balls, no brains, and no spine. Plus, the head and the ass are interchangeable.
#36

On January 10th, 2012 at 7:17 pm, peteee said:

Truesoldier said:

i hope i can remember those jokes
#37

On January 10th, 2012 at 7:54 pm, bjc said:

*Michele Bachmann was very vocal about not raising the debt ceiling; She understands the Dave Ramsey method, which is to live on less than you make(or in this case, take); The GOP has essentially commited suicide as a party due to their position on this after the 2010 election; When the Greece hits the fan due to this unsustainable trajectory allowed for by John Boehner and Mitch McConnell and their rat bastard compatriates, look for them to hide behind the Demoprogs that are proud of their entitlement constituency; But we are on to them, and they will be no more!
#38

On January 10th, 2012 at 8:17 pm, DonkeyHoatie said:

This image has been making the rounds on Facebook. It’s a couple months out of date, but it’s close enough that it gets the message home.

The even more frightening part is when you add in the unfunded liabilities of another 117 Trillion dollars.
#39

On January 10th, 2012 at 8:23 pm, SignPainterGuy said:

DonkeyHoatie #38,

Oh, how the Zero can complicate things !
#40

On January 10th, 2012 at 8:34 pm, FrankNitti said:

why does barry have to make every thing a big deal?

he will no doubt do this in a campaign speech some where.

what a turd…..
#41

On January 10th, 2012 at 9:14 pm, prendad said:

After watching the Republican party commit suicide over the last few months, I have regretfully come to the conclusion that Obama is going to be reelected and we are all going to witness the continuing descent of our country until it resembles hell on earth. My wife and I are getting our closets shelved for provisions and I have already stocked up on guns and ammunition. At least we will be able to eat and fight on the way down.
#42

On January 10th, 2012 at 9:35 pm, happyscrapper said:

I just got this in an e-mail!! How many of you knew this??? I am stunned.

WHERE ARE THEY NOW? Surprise…. Answer..

The three who brought down Wall Street.

Here’s a quick look into the three former Fannie Mae executives who
brought down Wall Street.

Franklin Raines was a Chairman and Chief Executive Officer at Fannie Mae.
Raines was forced to retire from his position with Fannie Mae when
auditing discovered severe irregularities in Fannie Mae’s accounting
activities. Raines left with a “golden parachute valued at $240 Million in
benefits. The Government filed suit against Raines when the depth of the
accounting scandal became clear.

Tim Howard – was the Chief Financial Officer of Fannie Mae. Howard “was a
strong internal proponent of using accounting strategies that would ensure
a “stable pattern of earnings” at Fannie. Investigations by federal
regulators and the company’s board of directors since concluded that
management did manipulate 1998 earnings to trigger bonuses. Raines and
Howard resigned under pressure in late 2004. Howard’s Golden Parachute was
estimated at $20 Million!

Jim Johnson – A former executive at Lehman Brothers and who was later
forced from his position as Fannie Mae CEO. Investigators found that
Fannie Mae had hidden a substantial amount of Johnson’s 1998 compensation
from the public, reporting that it was between $6 million and $7 million
when it fact it was $21 million.” Johnson is currently under investigation
for taking illegal loans from Countrywide while serving as CEO of Fannie
Mae.
Johnson’s Golden Parachute was estimated at $28 Million. *****************************************************************************************
WHERE ARE THEY NOW?

FRANKLIN RAINES?
Raines works for the Obama Campaign as his Chief Economic Advisor.

TIM HOWARD?
Howard is a Chief Economic Advisor to Obama under Franklin Raines.

JIM JOHNSON?
Johnson was hired as a Senior Obama Finance Advisor and was selected to
run Obama’s Vice Presidential Search Committee.
Are we stupid or what? Vote in 2012..it is the most important election of our lives…
#43

On January 10th, 2012 at 9:49 pm, DonkeyHoatie said:

Happyscrapper, hadn’t heard that one, but I’m entirely unsurprised. You could take the unsurprise in me, and build the Taj Mahal out of it, I’m so unsurprised.

It’s pretty much par for the course for The Obama. He knows that nobody in the lapdog media is going to question his staff appointees, so he can put in there anyone he wants, including those under investigation for federal crimes. He loves how they mismanage money — they’re just like him! (Except he doesn’t see it as “mismanagement”… he sees it as “letting your conscience be your guide, even if the law doesn’t agree with you.”)
#44

On January 10th, 2012 at 9:55 pm, happyscrapper said:

On January 10th, 2012 at 9:49 pm, DonkeyHoatie said:

I’m surprised that I still have the capacity for surprise. Unless I’m confusing surprise with disgust. Not sure any more. Love-hate, they are so close together and can turn from one to the other in a heartbeat. So one minute I am surprised, the next, I am throwing up my lunch.
#45

On January 10th, 2012 at 10:19 pm, Rogue Cheddar said:

On January 10, 2012 at 05:43 pm, Hangfire said:

If I was a radar operator, and saw a blip moving at high-speed towards the Capitol building……

…….and needed to refill my coffee cup……..

…….I would be in a real moral dilemma.

If it was me, I’d be like, I wonder if theres any doughnuts left to go with my refill.
#46

On January 10th, 2012 at 10:23 pm, sbw999 said:

Man, forget about all this drama. Why sweat fiscal responsibility and accountability??? Just print out a crisp new $15 Trillion dollar bill, and Fed Ex it to the Chinese. Tell them to make change and pay our other creditors. No more national debt! Then print another $1.6 trillion and poof, balanced budget! Then print out and distribute $1 Million to every man, woman and child in the United States. Poverty Schmoverty. I mean c’mon people…if we are going to be insane…let’s do it right and really GO INSANE. It’s the Democratic way.
#47

On January 11th, 2012 at 2:50 am, fred5676 said:

Avoid the rush — arrange your seaside rental now.
#48

On January 11th, 2012 at 9:17 am, RedDog said:

Paul Ryan has said that the increase is a foregone conclusion due to Obama’s class warfare strategy. Obama and as many Dems as possible will have to be run off before the debt can be attacked.

Also in the news: Turbo Timmy is in China working on “building closer economic ties”. What does that mean, arranging for the inevitable PLA occupation forces?
#49

On January 11th, 2012 at 9:21 am, RedDog said:

It looks as though we really are going to have to start from scratch. We can start by outlawing confiscatory Socialism via the BBA and 15% GDP cap.
#50

On January 11th, 2012 at 9:22 am, 123upnorth said:

On January 10th, 2012 at 10:23 pm, sbw999 said:
Man, forget about all this drama. Why sweat fiscal responsibility and accountability??? Just print out a crisp new $15 Trillion dollar bill, and Fed Ex it to the Chinese.

MM readers don’t understand the dangers of inflation.
#51

On January 11th, 2012 at 9:24 am, 123upnorth said:

The chinese give us rebates in the form of lending to buy their goods. The rebate we are demanding – in the form of our deficit spending – is getting to high for them. Geitner went over to kiss some as*.
#52

On January 11th, 2012 at 10:37 am, cheapseat said:

Google the U.S. debt on January 2007, when Harry and Nan took control of the pursestrings, and compare that with today. Today every man, woman, and child in America would have to work for the entire year of 2012 and receive zero pay, while sending 100% of their income to the IRS just to pay off our debt.
When Jimmah Carter left office, and that old fool is still alive, our national debt was less than 1 trillion dollars. Today it is 15.4 and heading to 16.2 by next January.
WANT TO KEEP GETTING WHAT YOU ARE GETTING, KEEP DOING WHAT YOU ARE DOING.
#53

On January 11th, 2012 at 12:31 pm, rocketman said:

***
HI CHEAPSEAT–#52. And when Jimmy Cahter was POTUS we were locked in a life or death struggle with the real Evil Empire U.S.S.R. Some reports from Russki sources indicate that they were seriously evaluating a strike on the U.S.A. due to our weakened military. Supposedly only the Navy “Boomer” Subs and their missiles couldn’t be taken out successfully.
***
And now Red China is the wolf eying the sheep and calculating if the time is ripe for a Taiwan takeover. They may wait for further degradation in the U.S. Military after a Comrade Obama victory in 2012.
***
Deja Vu all over again. Where is President Ronald Reagan II when you really need him?
***
John Bibb
***
#54

On January 11th, 2012 at 12:56 pm, conservative hispanic said:

rocketman:

You’re so right. The only reason the Chi-Coms have not invaded Taiwan is because their navy can’t stand up to ours. The moment they think they can, all bets are off. This may happen as soon as 2014 or 2015, depending of whom you ask.
#55

On January 11th, 2012 at 1:55 pm, txvet2 said:

On January 11th, 2012 at 12:31 pm, rocketman said:

And now Red China is the wolf eying the sheep and calculating if the time is ripe for a Taiwan takeover. They may wait for further degradation in the U.S. Military after a Comrade Obama or Ron Paul victory in 2012.

FIFY.
#56

On January 11th, 2012 at 2:15 pm, rocketman said:

***
HI TXVET2–#55. Thank you for the Ron Paul “fix”. Somehow I write him off in my thinking as someone too far off base to ever be elected POTUS. And Comrade Obama’s presence in office now shows that “you can never underestimate the stupidity of the electorate!”.
***
Ron Paul’s gutting of the military will guarantee a WW2 style draft when the fit hits the shan some day. With hastily trained and poorly armed soldiers dying in far greater numbers than necessary. The all volunteer Military is far better trained and equipped than a draftee army would be.
***
John Bibb
***
#57

On January 11th, 2012 at 6:33 pm, GaijinBob said:

123upnorth said:
MM readers don’t understand the dangers of inflation.

I think MM’s readers are among the few blog peanut galleries (myself being one of the biggest nuts) that actually does understand the dangers of inflation. Most are probably gainfully employed and have to actually work to earn money that is perpetually losing value.