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!).

ABC:

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.

Jr Deputy Accountant

Some say he’s half man half fish, others say he’s more of a seventy/thirty split. Either way he’s a fishy bastard.

2 comments:

OldSouth said...

I watched the same interview this morning, with the same incredulity you express. The charming bits were his assertion that the debit ceiling approval and the decisions to reduce spending would 'work on parallel tracks', which is to say--'You give us what we demand, and we'll promise to begin thinking about what you might wish to accomplish, eventually.'

And the charming, and not-too-veiled threat of 'If the debt ceiling is not raised, those opposed to it will own the catastrophic consequences we will suffer', was, well, charming.

Nice little economy yah got heah--it'd be a shame if we had to BURN IT DOWN, just to make certain youse guys know we mean bizness! Right, Gino? Right, Vito?

Anonymous said...

"And the charming, and not-too-veiled threat of 'If the debt ceiling is not raised, those opposed to it will own the catastrophic consequences we will suffer', was, well, charming"

The night before, he ready Henry Paulson's "Selling TARP to Congress Playbook" and ran the half back option. Approve this or the end of the world will come and it will be on your heads!!!! (pffffftttt, what bullshit) There is nothing new under the sun. Same shit, different decade.