Yes, Osama bin Laden is still dead, and General Motors is alive…sort of

American Thinker

By Ethel C. Fenig

 

That was then: Over six years ago, then-vice president Joe Biden (D) was campaigning for a second term for the Democratic administration of Barack Hussein Obama and himself with this proud theme:

If you are looking for a bumper sticker to sum up how President Obama has handled what we inherited, it’s pretty simple: Osama bin Laden is dead and General Motors is alive.

He was referring, of course, to the assassination of terrorist Osama bin Laden, indicating a successful American foreign policy during the Obama administration, and simultaneously the government bailout of General Motors indicating a successful domestic policy of providing for American workers.


Image credit: Ancho.

At that time, after four years of Obama’s rule, the U.S. unemployment rate was 8%.

Well, the theme worked, and that dynamic Democratic duo – plus others – were re-elected for a second term in November 2012.

But a year later, Biden was relatively silent when (emphasis added):

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Treasury Secretary Lew: Raise the Debt Limit Now (by Mitch, Boehner and the Surrender Monkeys)

Free Republic

The U.S. will hit its debt limit on March 16 but with some “extraordinary measures” it will be able to fund the government on a temporary basis, according to U.S. Treasury Secretary Jack Lew, who urged Congress in a letter to raise the debt limit immediately.

doctorbulldog.wordpress.com

doctorbulldog.wordpress.com

In the letter to House Speaker John Boehner and other House and Senate leaders, Lew said on March 13 his office would have to suspend the issuance of some local and and state securities, reports CNBC.

“Accordingly, I respectfully ask Congress to raise the debt limit as soon as possible,” Lew wrote in his letter.

In the letter, Lew assured that increasing the debt limit did not necessarily mean approving new spending but instead allowed the federal government to pay for existing expenses.

His letter came on the heels of a a Congressional Budget Office report Tuesday that said if the U.S. federal debt limit is not raised, the U.S. Treasury Department will exhaust all of its borrowing capacity and run out of cash in October or November, slightly later than a previous forecast. Normal U.S. borrowing authority under the debt limit is due to expire on March 15. If Congress fails to raise or extend the debt limit, Treasury will need to begin employing extraordinary cash management measures to continue borrowing.

It estimated that the Treasury’s extraordinary measures, which range from suspending investments in government employee pension funds to halting sales of debt securities to state and local governments, would provide nearly $363 billion in additional borrowing capacity.

Once that capacity is exhausted, CBO said the borrowing cap “would ultimately lead to delays of payments for government activities, a default on the government’s debt obligations, or both.”

(Excerpt) Read more at newsmax.com

Despite promises, Social Security still trying to collect old debts from kin

Free Republic

The Social Security Administration, which announced in April that it would stop trying to collect debts from the children of people who were allegedly overpaid benefits decades ago, has continued to demand such payments and now defends that practice in court documents.

After The Washington Post reported in April that the Treasury Department had confiscated $75 million in tax refunds due to about 400,000 Americans whose ancestors owed money to Social Security, the agency’s acting commissioner, Carolyn Colvin, said efforts to collect on those old debts would cease immediately.

But although some people whose refunds were seized were reimbursed in recent months, some of those same taxpayers have since received new demands from Social Security, asserting that the debts remain and seeking repayment.

(Excerpt) Read more at msn.com

Boiling Frog Alert: Congress wants automatic wage deductions to pay down the debt

Free Republic

On July 6th, just two days ago, at least a dozen busybody Congressmen sponsored the introduction of HR 2411, the “Reduce America’s Debt Now Act of 2011.” They always come up with fantastic names for these pieces of legislation… and rest assured, the better/more patriotic the name, the more ominous the bill. This one follows the pattern.

HR 2411 states that every worker in America should be able to voluntarily have a portion of his/her wages automatically withheld and sent directly to the Treasury Department for the purposes of paying down the federal debt.

“Every employer making payment of wages shall deduct and withhold upon such wages any amounts so elected, and shall pay such amounts over to the Secretary of the Treasury…”

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