Timmy the Tax Cheat is a Bazillion Percent Sure Congress Will Raise the Debt Ceiling
Here's a surefire way to eliminate all this talk about a debt ceiling and default: just raise it permanently. There's no way out except default, as anyone who has gotten buried in payday loans can tell you, and since they aren't about to default, their only option is to say fuck it and go balls out towards Armageddon. Everyone knows they're just going to keep raising it, let's just save ourselves a whole lot of trouble and forget about the debt ceiling, it's a joke anyway.
Of course default is the reasonable option but they'd never have the guts to do it and suggesting it would presume that we are dealing with reasonable people, which we obviously are not.
Now would be the time to default since the Fed is going AIG with Treasury puts, it would fuck them on the money we owe them and fuck them on their position since they are the only ones who actually want to buy Treasurys to begin with. That's a win-win if you ask me but I'm no White House economic adviser (call me, Obama!).
Treasury Secretary Timothy Geithner says he is certain that Congress will raise the debt ceiling, saying leaders are "not going to play around with it" and risk the "catastrophic" consequences of defaulting on the nation's debt obligations.
"I want to make it perfectly clear that Congress will raise the debt ceiling," Geithner said in an interview with ABC News "This Week" anchor Christiane Amanpour. When asked if he was sure, Geithner responded, "absolutely," adding that Congressional leaders made clear they understood the importance of the matter when meeting with President Barack Obama at the White House last Wednesday.
"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," Geithner said of last week's White House meeting. "We know that the risk would be catastrophic."
Catastrophic to whom, Mr Geithner? To the major holder of U.S. debt? Fuck them.