Wednesday, December 26, 2012

Government Will Hit Debt Ceiling - December 31

Socialist Secretary of the Treasury Tim Geithner has informed the Congress that the Federal Government will hit the $16.4 Trillion National Debt Ceiling on December 31, 2012.   It should no surprise because Obama is now borrowing and spending about $5 Billion a day to fund his Socialist Schemes and Trillion Dollar Plus Annual Budget Deficits.   So now on top of the Fiscal Cliff and huge tax increases that will hit the American people on January 1, our country will be in another Obama Crisis shortly.  

Geithner has indicated that he can play games with the numbers by shifting monies around to borrow up to $200 Billion, which will push this can down the road for a month or two; but then Armageddon will occur, since the United States will have no authority to continuing borrowing, which will result in Default on our Debt.   

It is important to recognize that Obama has essentially asked that the Debt Ceiling be eliminated altogether by giving him sole authority to raise the Debt Ceiling to anything he wants, without Congressional Approval, even though it is required in the Constitution.   Republicans in Congress will never give Obama that authority and power; but don't be surprised if he does not take it anyway by Executive Order, which will cause a Constitutional Crisis that will go all the way to the Supreme Court. 

If Obama uses an Executive Order to get around Congress to raise the National Debt Ceiling, he is likely to cite National Security, which is often the justification for a Presidential Power Grab.   And, if it does end up in the Roberts Supreme Court, months from now, given the ObamaCare decision,  it would not surprise this Blogger if the Socialists on the Court and Roberts don't side with Obama.   If and when that happens, the road to bankruptcy, civil strife on our streets and the loss of our national sovereignty is certain.

Obama's PEEP's, those on the dole, the 50% of Americans that pay no income taxes at all, public employee union members, radical feminists and environmentalists, trial lawyers and crony Capitalists, all feeding at the trough, are completely oblivious to all of this.   Nor do they care if they bankrupt our country, as long as they can continue feeding at the trough.   The day of reckoning is coming.   We cannot continue borrowing more than a Trillion dollars a year to take care of Obama's PEEP's.  It is what it is. 

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