When I respond, or seek responses, I think of the Internet Republic and the people [[whump]] and the places who have made our water world Eden brave and free and fair. Permitted, required, and impossible. Stand alone or stand with, whose choice to what degree [[Thn/]] O[[thn/]]ne water world Eden under "We the people" – created by whom?

Assets = Liabilities + Owner’s (s’) Equity

bama to Ask for $1.2 Trillion Increase in Debt Limit
Published: December 27, 2011

WASHINGTON — President Obama will ask Congress this week for $1.2 trillion in additional borrowing authority, which would raise the federal debt limit to $16.4 trillion and avoid the need for further increases before the 2012 elections, administration officials said Tuesday.

Times Topic: Federal Debt Ceiling

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This would be the final increase allowed under the budget agreement reached in August after the government came close to default. Since signing legislation to codify that agreement on Aug. 2, Mr. Obama has obtained two increases totaling $900 billion.

The budget agreement largely pre-empts the partisan debate over federal deficits and debt that the request might otherwise have touched off in Congress.

While the House, controlled by Republicans, could try to block the proposed increase in the debt limit, the Senate, with a Democratic majority, is unlikely to go along. If both houses of Congress voted to block the increase, Mr. Obama could veto the legislation.

The government’s need for more borrowing results from the fact that it spends far more than it raises in revenue; it makes up the difference by borrowing 36 cents of every dollar it spends. In the fiscal year that ended Sept. 30, the government spent $3.6 trillion and collected $2.3 trillion.

Despite record debt, the Treasury still finds that it can borrow at extraordinarily low interest rates, contrary to predictions by some Republican lawmakers, who had warned that soaring deficits would require the government to pay more to lenders and investors in Treasury debt.

In the last decade, the government has borrowed record sums to pay for the wars in Iraq and Afghanistan, tax cuts adopted under President George W. Bush and economic stimulus measures enacted in 2009 to address the worst economic slump since the 1930s.

Since President Obama took office, the debt has shot up 42 percent, to the current level of $15.1 trillion. Of that amount, $10.4 trillion is borrowed from the public, and $4.7 trillion consists of special-issue Treasury securities held by Social Security and other government trust funds. Debt held by the public, considered by many economists to be the more significant indicator, is 65 percent higher now than in January 2009.

Treasury officials said the debt often increased at the end of the year because of large interest payments that the government makes to Social Security and other trust funds. These payments will total $82 billion this month, the Treasury said. Money not immediately needed by the trust funds is invested in the special Treasury securities.

In September, the House voted to block Mr. Obama’s request to raise the debt limit by $500 billion, the second increase. However, the Senate had already turned back a similar move.

Representative Tom Reed, a Republican from upstate New York, who led the House effort, said, “Dealing with this national debt is one of the primary reasons why I ran for Congress — to stop the endless borrowing of Washington, D.C., on the backs of our children and our grandchildren.” He said the debt was a “threat to national security.”

[””thn//] National Debt: a threat to national security… [””thn/]; xref: if “Money can be used as ‘bullets,” DHP, Dir. CIA, 2010, then surely a $16.4 X 10^12 national debt is proportionally a potential weapon of awesome mass self-destruction. Is that right?

if “Money can be used as ‘bullets,” DHP, Dir. CIA, 2010, then surely a $16.4 X 10^12 national debt ( % of global asset values) is proportionally a potential weapon of awesome mass self-destruction. Is that right? Vote Ron Paul ! Start [thn/] the long journey back to firm floors and ceilings on wages and prices.

Filed under: stable environment, stand with, Stand with rights, US Citizens, US Political Dynasty, us supreme court, USA, When, WIC, world bank world development indicators, [thn/] Chinese laborers, , , , , , , , , ,

xref: "When it's all green we'll elect you. Also xref: "Blue? ...no," Also xref: "Why do certain military and police officers have stripes on the side of their pants? So their dogs know what direction they are facing," And what else? "Step back!" ? And what else? Screen Shot 2011-12-29 at 11.35.08 AM

tags, xref:, When, all green, we’ll elect you, Also xref, Blue? …no, Further xref:, Why, military, police, officers, stripes on pants, dogs, know, direction, facing, what else?, “Step back!”, ?, And what else?, Screen Shot, [[thn/]] 2011-12-29, 11.35.08 AM,

Filed under: "Step back!", 11.35.08 AM, ?, all green, Also xref, And what else?, Blue? ...no, direction, dogs, Egypt, Facebook, facing, Further xref:, Jesus, know, military, officers, photo, police, Screen Shot, Social (Trust) Networks, Stand alone rights, Stand with rights, stripes on pants, tags, The five (5) pillars of faith, Uncategorized, we'll elect you, what else?, When, Why, WIC, xref, Zakat, [[thn/]] 2011-12-29