Geithner asks Congress for higher US debt limit.

[Kdillard]

http://www.reuters.com/article/newsOne/idUSTRE57706N20090808

"U.S. Treasury Secretary Timothy Geithner formally requested that Congress raise the $12.1 trillion statutory debt limit on Friday, saying that it could be breached as early as mid-October.

"It is critically important that Congress act before the limit is reached so that citizens and investors here and around the world can remain confident that the United States will always meet its obligations," Geithner said in a letter to Senate Majority Leader Harry Reid that was obtained by Reuters."

[Hugin]

1. Odd this hasn't been played much in GD or elsewhere.

:kick:

[truedelphi]

3. If you mention any of O's economic team critically in an OP

Over at GD forum, you are unrec'ed to unholy hell and back.

No point in worrying their pretty little heads over minor matters like the truth.

Or the real state of the economy.

Over there it is all "Green shoots."

[dixiegrrrrl]

6. which is fine..if you are a panda.

[truedelphi]

7. My panda and me are getting to take a ride

In girlfriend's new cash for clunker car. A Toyota hybrid. And she is treating me and panda to lunch.

Ah at last, a small green shoot landing on my plate and not over at AIG or GS.

[unlawflcombatnt]

8. LOL

"Over at GD forum, you are unrec'ed to unholy hell and back.

No point in worrying their pretty little heads over minor matters like the truth.

Or the real state of the economy.

Over there it is all "Green shoots.""

LOL. Thanks for the warning. I'm glad I haven't tried to post anything over there for the last year. It sounds like optimism & "green shoot-ism" have replaced reason.

[dixiegrrrrl]

2. Holy shit. He just upped the ante.

I was wondering how he was going to keep the game going.
By Aug, he has "sold" as much debt as all of last year, and no one will buy it except the Fed.

Essentially Geithner wants to raise the height of the mountain we are going to fall off of.

[truedelphi]

4. Surely, then, Bernanke will be selling us parachutes?

Or at least golden parachutes for those on Wall Street.

[truedelphi]

5. In related news I saw at Yahoo, Bernanke stated he had to hold his nose

While flooding so much money from the Federal Reserve into the US and World Economy.

One critic said "Why oh why couldn't he have held his mouth while he held his nose, and saved us all some trouble!"