democrats

The Roof Has Been Raised: $16.4 Trillion Debt Ceiling

by

Well, it’s looking like  the Senate was unable to muster enough votes to reject the newest debt ceiling hike in a 52 to 44 vote.  Due to take effect this Friday, we will be looking at a new ceiling of $16.4 trillion with our current levels reaching the $15.4 trillion mark. From Zerohedge: “Since roughly $100 billion was plundered from Pension Funds in the past month, The US will have about $15.4 trillion in debt with the Monday DTS. The question then is how long will the $1 trillion in debt capacity last: at $125 billion/month it won’t be enough … Read more

‘s education

by

There could be a short-term hiccup in markets when it becomes apparent there is no bi-partisan deal but its likely to be muted.  The $1.2 trillion on compulsory cuts they agreed to last summer will kick in until they agree to abrogate that.  That’s when the market will swoon.  Right now a compulsory deal seems far superior to a negotiated deal.  At least it starts whacking down the monstrous defense department budget without inflicting real suffering on people’s medicare and Medicaid programs just yet.  Even Conservative blowhard CNBC columnist, Larry Kudlow, (who I know from my Bear Stearns happy days. … Read more