The analysis raises the possibility that lawmakers might have to raise the nation’s borrowing limit before the election, a scenario they took pains to avoid in the debt deal passed in August.
Now, partially due to lower than expected tax receipts, the nation could reach the $16.4 trillion debt limit as early as late November, according to an analysis from the Bipartisan Policy Center (BPC) to be released Friday.
Just a few weeks ago, the Center has estimated the debt-limit wouldn’t be reached until the spring of 2013.
But continued sluggishness in the economy, coupled with the recent payroll package that adds to the deficit, is casting doubt on that timeframe, raising the possibility of a bitter fight over deficit spending at the height of a presidential election year.
Last year’s fight over the debt ceiling brought the nation to the brink of default and resulted in the first-ever downgrade of U.S. securities. The last-minute deal to raise the borrowing limit by $2.1 trillion was supposed to tide the government over until the end of 2012, by which point electoral politics would be in the rearview mirror.
But analysts at the BPC said it’s looking increasingly likely that those best-laid plans will be dashed by “unexpected circumstances.”
February 24, 2012 | Categories: 2012 Election, America's Freedoms, America's National Security, Balanced Budget, Class Warfare, Cloward and Piven Strategy, Congress, Congress: Inquiries & Committees, Constitutional Responsibilities, Consumer Issues, Corruption, Corruption in Government, Deficit, Economic Security, Education, Election 2012, Elections Politics, Employer Uncertainty, EPA Regulations, Excessive Government Spending, Freedom Justice and Liberty, Government, Government Appointments, Government Regulations, GSE, Healthcare, Housing Crisis, Individual Rights, Individual Rights and Freedoms, Jobs, Learn from History, Liberal Scare Tactics, Liberals Big Spending and Taxes, Media Corruption, Most Americans Reject Socialism, National Debt, National Security, New Media News, Political Contests, Politics, Progressives pushing for Marxism/Socialism, Public Sector (Government), Radical Liberal Progressive Left, Recovery, Redistribution of Wealth, Rejecting Political Correctess, TEA Taxed Enough Already, The Economy, The Environment, Unemployment | Tags: $16.4 trillion, BPC, by Election Day, Congressional Budget Office, debt ceiling, National Debt, new report, payroll package, peter schroeder, record debt ceiling, tax and spend liberals, tax receipts | Leave A Comment »
By Justin Waldman, February 18, 2012
YouTube.com - FreedomsFool2009
It’s not over ’til it’s over!
Coming up from the underdog, Senator Rick Santorum is gaining momentum like wildfire. Some people are calling him the new ‘frontrunner’. Check out this Google Trends chart from today, February 18, 2012. This is not a poll, but a significant chatter meter of how candidates are doing.
While polls, when properly calculated, are move scientific, it is obvious that all polling is not on the same page. We believe that there is some affecting of bias by the mainstream media. We have recently found out that Media Matters has been linked to access to the White House perhaps for the purpose of generating a ‘consistent’ front on all the networks, just like in the last election (2008).
By God, it’s not going to work this time. The American people know what you guys are doing. People like George Soros, David Brock, etc., are in bed with the Obama Administration to pull together the same ‘slick trick’ they did last time.
Not gonna work. This time we not only have the record of a failed president, but we have full knowledge of the intentions of this administration. We know that the job numbers are being cooked to look good on the surface, but in reality, we know that the real number much higher.
The ‘tax cut’ Congress passed is a bad idea. It’s not a tax cut, its taking money from Social Security receipts and calling it a tax cut. Why is it that Social Security has always been the victim of legislative robbery? We know that Social Security is funded by current, on-going tax receipts from Social Security taxing. Where is the money coming from to replace those funds?
It’s continuing to be obvious that President Obama is secretly and willingly trying to crash this economy. This is the worst ‘tax and spend’ administration since Woodrow Wilson! It’s even worse than the Carter administration. We need a REAL CONSERVATIVE. We believe Sen.Rick Santorum is that man to get this nation back in the direction it should be going.
February 18, 2012 | Categories: 2012 Election, America's Freedoms, Balanced Budget, Class Warfare, Congress, Congress: Inquiries & Committees, Constitutional Responsibilities, Corruption, Corruption in Government, Deficit, Economic Security, Election 2012, Elections Politics, Fiscal Responsibility, Foreign Policy, Freedom Justice and Liberty, Government, Government Regulations, Healthcare, Housing Crisis, Individual Rights and Freedoms, International News, Jobs, Liberals Big Spending and Taxes, Most Americans Reject Socialism, National Debt, National Security, New Media News, Political Incompetence, Politics, Poll Numbers, POTUS Deception, POTUS Elibility Issue, Private Sector (Free Enterprise), Progressives pushing for Marxism/Socialism, Radical Liberal Progressive Left, Redistribution of Wealth, Smaller Government, TEA Taxed Enough Already, Terrorists Threats, The Economy, Unemployment, UNION Corruption, UNIONS ACORN and SEIU, VOTER FRAUD, War on Terror | Tags: bad tax cut, Barack Obama, cooked jobs numbers, David Brock, Election 2012, FreedomFool2009, George Soros, Google, Google trends, new frontrunner, Rick Santorum, Senator Rick Santorum, slick trick, Social Security, tax receipts, YouTube | Leave A Comment »