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Congress Will Raise Debt Limit: Geithner

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http://www.reuters.com/article/2011/04/17/us-usa-budget-debt-idUSTRE73G0YR20110417

Congressional Republicans have assured President Barack Obama that they would not hold the economy hostage over raising the debt ceiling, Treasury Secretary Timothy Geithner said on Sunday.

But Republicans appearing on television news shows insisted they would not support an increase of the $14.3 trillion borrowing limit without an accompanying deal to rein in future deficits.

"I want to make it perfectly clear that Congress will raise the debt ceiling," Geithner told ABC's "This Week with Christiane Amanpour."

"They recognize it and they told the president that on Wednesday in the White House and I sat there with them and they said, 'We recognize we have to do this and we're not going to play around with it, because we know the risk would catastrophic.'"

Clearly $14.3tr of debt is not enough, the American people demand that there leaders load up on even more debt. Debt slavery for all. GDP is being propped up by all this borrowing therefore the govt cannot stop without revealing the whole charade.

So the deal will be the ceiling gets increased with the proviso that the Govt trys or at least looks like it's trying to reduce the deficit each year which of course will at to the already immense debt mountain.

Viva recovery.

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Was reading your link to Zerohedge's latest post earlier. The Fed's "debt" might be even more, not that I really understand the article!

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Was reading your link to Zerohedge's latest post earlier. The Fed's "debt" might be even more, not that I really understand the article!

I too got lost with that one.

I was hoping someone would decipher it as I couldn't work out why $1bn was such a threat to the Fed.

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  • 276 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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