U.S. federal debt has stood at $16,699,396,000,000.00 for 68 straight days, according to the July 24 Treasury Statement . That is exactly $25 million less than the legal borrowing limit of $16,699,421,000,000.00 set on May 17, 2013.

But the same report shows “Total Public Debt Outstanding” is $38.82 billion above the statuary debt ceiling . Is the compliant press reporting this ? No . Are the Republic loyal opposition making an issue of this in the halls of Congress ? No .

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But they are preparing for the next debt ceiling . The question is... why bother if it won't be enforced ?
Scuttlebutt was that the Republic leadership were secretly negotiating with the Obots to cave in .Now it has become public .They will not hold the line .

Sens. John McCain of Arizona and Lindsey Graham of South Carolina and several other Senate Republicans are hoping to strike a large-scale fiscal deal with Democrats and the White House to reform entitlements, the Tax Code, fund the government and infrastructure projects, and most important, blunt sequester cuts. They met with White House chief of staff Denis McDonough again Tuesday.
Debt ceiling drama returns - Jake Sherman and Burgess Everett - POLITICO.com (http://www.politico.com/story/2013/07/debt-ceiling-drama-has-returned-94649.html#ixzz2aEf4S3A9)

They wet their pants at the prospect of having the defend a gvt shutdown over any issue.. So as the emperor crosses the country ridiculing the Republic leadership ,word is they have already surrendered .
Obama prepares for new clash over debt ceiling | Americas | BDlive (http://www.bdlive.co.za/world/americas/2013/07/23/obama-prepares-for-new-clash-over-debt-ceiling)

Again the emperor will rail against them threatening the 'full faith and credit' while taking no responsibility for exceeding the statutory spending limits imposed. He calls them 'deadbeats ' .
But by law ,the debt has to be paid 1st . So the ball is in the emperor's court to pay the debt. Anything left over... by all means spend it as authorized by Congress.

It is incumbent on the Bonehead lead House to hold the line. If they demonstrate that they can't effectively manage the powers assigned to the House of Reps in the constitution (the power of the purse) ,then how can they make the case that the nation should grant them control of the other 2/3 of the elected government ?

Fire 'em all. Except Cruz.

High farce

More Squeal and Repeal from the right?

Don't worry Tal.. as always ,the Repubics will cave. I get it... the legal debt limit being violated by the lawless adm... nothing there... move on.

That is why there is a growing 'nullification' movement happening at the state level. According to Politico ;

In at least 37 states legislation has been introduced that in some way guts federal gun regulations, according to the Brady Center to Prevent Gun Violence. The bills were signed into law this spring in two states, Kansas and Alaska, and in two more lawmakers hope to override a governor's veto. Twenty states since 2010 have passed laws that either opt out of or challenge mandatory parts of Obamacare, the National Conference of State Legislatures says. And half the states have OK'd measures aimed knocking back the Real ID Act of 2005, which dictates Washington's requirements for issuing driver's licenses.
States seek to nullify Obama efforts - Tal Kopan - POLITICO.com (http://www.politico.com/story/2013/07/states-nullification-obama-94826.html#ixzz2aKWnPqFF)
The article correctly points out that nullification efforts in the past have gotten no where . But note that the number of states are close to the numbers needed to call for a constitutional convention ,and pass a series of amendments from that convention.

More Squeal and Repeal from the right??

Yes repeal and cut. What you to say is that temporary so called stimulus spending is now the base line in our budget. So holding the line on spending is only keeping spending levels set at what was supposed to be temporary spending to address an extraordinary circumstance . Now ,not only is that spending to not return to the already 2008 irrational overspending levels... but you think that holding the line is budget cutting . Such is the strange and bizarre logic of the left.

This power that you give me I will lay down

You guy got the squealing down pat, logical or not, but don't have enough oomp to repeal anything. The only fiscal responsibility you have shown is take all the money out of the economy and give it to rich guys for investments overseas. Shame your values are dictated by the accumulation of all the cash, and not circulating it rapidly.

But trickle down has never worked, and you will never admit it because the guys that control the spicket will never turn it on. Matter of fact its totally shut off. Go ahead hold onto your logic and the money because people will get tired of NO MONEY.

The people in your economy don't have the gumption to take it

the people in your economy don't have the gumption to take it

Take what??

The money from the exploiters