Proof The Bible Is True

“This is insane! Now there are no limits to how high the debt can go from now til 03/15. Whenever this debt bubble bursts, as it surely will, the resulting economic crash will make the Great Depression of the 1930’s look like the good old days.”  Admin

In 2011, House Speaker John Boehner established what would become known as the “Boehner Rule”: he said any debt ceiling increase would have to be offset by spending cuts.

Politico reminds us about Boehner’s bold demand:

“Let me be as clear as I can be,” Boehner told the Economic Club of New York in May 2011. “Without significant spending cuts and reforms to reduce our debt, there will be no debt limit increase.”

So much for that.

On Tuesday morning, Boehner stunned Republicans by announcing that he was dropping a package that would have tied the debt ceiling increase to a repeal of cuts to military retirement pensions that were approved in December and replacing it with a “clean” debt ceiling increase.

In other words, Boehner is allowing the debt ceiling to be suspended without any concessions from the Democrats.

Read More  The Sky’s the Limit: Debt Limit Suspended until March 2015 | The Daily Sheeple.