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New Debt Limit $14.3 Trillion
Axis of Right ^ | 1/28/2010 | Sal

Posted on 01/28/2010 1:09:07 PM PST by SalAOR

The Debt Limit has been raised by Congress to $14.3 trillion dollars. The Senate voted to raise it$1.9 Trillion on a strictly partisan basis, 60-40 (no wonder they delayed the swearing in of Scott Brown). The amount that they are raising it is unprecedented in our nation’s history. Some perspective:

* In 2001 when Bush took office, the debt was roughly 1/3 of what it is today, at $5.6 trillion.

* In 2006, the Congress voted to raise the debt limit by $784 billion to $9 trillion.

* In 2007, Congress voted to raise the debt limit by $850 billion, to $9.85 trillion.

* In 2008, Congress voted to raise the debt limit by another $800 billion, to $10.6 trillion.

* In late 2008, Congress voted again (as part of TARP) to raise the debt limit by $700 billion, to $11.3 trillion.

* In early 2009, Congress voted to raise the debt ceiling (as part of the Porkulus bill) by $800 billion to $12.1 trillion.

* Just last month in December of 2009, Congress, running out of money, raised the debt ceiling by just under $300 billion, to $12.4 trillion.

* Now, Congress is raising the debt limit by a whopping $1.9 trillion. That’s more than the last three debt ceiling raises combined.

* The total of debt ceiling increases passed during the first year of the Obama administration now nearly equal to the increases passed in the first six years of Bush’s presidency.

Or, to look at it another way:

(Excerpt) Read more at axisofright.com ...


TOPICS: Politics
KEYWORDS: debtlimit; democrats; nationaldebt; spending

1 posted on 01/28/2010 1:09:08 PM PST by SalAOR
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To: SalAOR
60-40 party line vote.

Damn those RINO's.............

2 posted on 01/28/2010 1:12:08 PM PST by Lakeshark (Thank a member of the US armed forces for their sacrifice)
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To: SalAOR
Here's another way to think about it....just imagine the ENTIRE monetary and productive output of every wage-earning, salary-earning, company/corporation-producing entity in this ENTIRE country for a year. Now, imagine that every last goddam cent of that production was taken away on receipt to pay for this massive, massive debt.....that's the scope of this circle jerk....

How many in this country could afford to labor hard for a year and not realize any benefit from it? That's what we have now in store for us because of OBAMA.

3 posted on 01/28/2010 1:12:49 PM PST by Gaffer ("Profling: The only profile I need is a chalk outline around their dead ass!")
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To: SalAOR

Why bother having a debt limit if every few weeks they vote to raise it?

Why am I asking that, sheesh.


4 posted on 01/28/2010 1:14:46 PM PST by autumnraine (You can't fix stupid, but you can vote it out!)
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To: Gaffer

What’s a meager 14 trillion dollars. Washington has a LOT of credibility yet, the Chinese are going to really INVEST, and you can see it as the Rock of Gibraltar. TOO big to fail. Just look at the smile of Biden last night, and the smirk of the President, THEY ARE NOT SWEATING...why would anyone else?


5 posted on 01/28/2010 1:15:34 PM PST by rovenstinez (All)
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To: rovenstinez

Yes, I’m seriously thinking about leveraging my ass to the hilt and cashing in on my good credit and then taking a junket to Las Vegas. Why should we worry? They aren’t....


6 posted on 01/28/2010 1:19:45 PM PST by Gaffer ("Profling: The only profile I need is a chalk outline around their dead ass!")
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To: SalAOR

WTF?!?

They took this vote without MY NEW DULY-ELECTED SENATOR having been rightfully seated?!

Taxation without representation. As MA resident, I have been denied my rightful representation in the Senate.

Pitchforks. Torches.

And as someone else said, what’s the point in a “debt ceiling” if they can just raise it whenever they want? That’s like giving a compulsive gambler the ability to raise his own credit card limit without the bank having any say in the matter.


7 posted on 01/28/2010 1:21:17 PM PST by Zeddicus
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To: Gaffer
How many in this country could afford to labor hard for a year and not realize any benefit from it? That's what we have now in store for us because of OBAMA.

And other presidents like Bush, who brought it from 5.6 to 10.6 trillion. Of course Obama is going way beyond what Bush did, but Bush must share some of the blame for this.
8 posted on 01/28/2010 1:22:51 PM PST by microgood
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To: SalAOR

“60-40”. I thought the term was up for the interrim Mass. Senator and he no longer had authority to vote.


9 posted on 01/28/2010 1:24:46 PM PST by SharpRightTurn (White, black, and red all over--America's affirmative action, metrosexual president.)
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They’re sowing the seeds of their own destruction. When all hell breaks loose, they’d better have the best private security force in the world, because the angry mob is gonna get their’s.


10 posted on 01/28/2010 1:29:59 PM PST by Arkansas Toothpick
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To: SharpRightTurn
“60-40”. I thought the term was up for the interrim Mass. Senator and he no longer had authority to vote.

About half of the people in the Country now question whether 0bama is actually qualified to be in the Oval Office, so one Senator is small potatoes.

11 posted on 01/28/2010 1:31:21 PM PST by The Sons of Liberty (Pork Eating CRUSADER - FUBO! Mene, Mene, Tekel, Upharsin)
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To: SharpRightTurn

Nope, Kirk voted. They haven’t seated Brown yet. I doubt the GOP has the spine to fight it out in court.


12 posted on 01/28/2010 1:32:18 PM PST by SalAOR
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To: Gaffer

$45,000 for every man, woman, and child in the US.


13 posted on 01/28/2010 1:33:04 PM PST by the_devils_advocate_666
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To: The Sons of Liberty

That sounds like standing for a lawsuit.


14 posted on 01/28/2010 1:33:18 PM PST by Styria
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To: microgood
Yes, you are correct to a fashion. That 'fashion' included a dalliance with Teddy on NCLB, with Democrats on Prescription Drugs for Seniors, and that very, very pesky War on Terror that Democrats refuse, to this day, to affirm. Our current pResident calls this pecadillo, Overseas Contingency Operations and Man-Caused Disaster....

Regardless of whether we include this history and its (as you state) 10 Trillion dollar sum (not all due to Bush's additons but from Slick, et al). This Pimp Poser has amassed upwards of a FOUR TRILLION DOLLAR add-on....what about this doesn't trouble you? It is almost a 50% increase?

15 posted on 01/28/2010 1:35:17 PM PST by Gaffer ("Profling: The only profile I need is a chalk outline around their dead ass!")
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To: SalAOR

And 14.3 trillion dollars is basically 100% of our Gross National Product.


16 posted on 01/28/2010 1:45:18 PM PST by jpl
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To: Gaffer
This Pimp Poser has amassed upwards of a FOUR TRILLION DOLLAR add-on....what about this doesn't trouble you? It is almost a 50% increase?

Well, if you include the TARP money, Bush ran it up to 11.3 Trillion, which means Obama has added 2 trillion in just one year. So while Bush averaged about 700 billion a year, Obama is averaging more than three times that amount.

While Bush appears to hold the record as the most irresponsible fiscal President in the history of this country, he will be out done by Obama in less than half the time.

I hated it when Bush did and I really hate it now. It is fiscal child abuse.
17 posted on 01/28/2010 1:51:05 PM PST by microgood
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To: microgood

Technically, you are probably correct about the numbers, but think about the mood and what I feel is his undying passion to do the best for this country...he didn’t push the last spending through to buy votes - he didn’t need them. He felt he was doing what needed doing. To equate the expenditures that he endorsed with this crap, vote-buying, class-separating machinations of Obama is disingenuous to the ‘nth’ degree.. there is absolutely no comparison. This arugula (in MODO’s own words) icon is the death of this nation if we allow it... so please don’t bring Bush/Z’bama comparisons to me...they are worthless.


18 posted on 01/28/2010 1:57:03 PM PST by Gaffer ("Profling: The only profile I need is a chalk outline around their dead ass!")
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To: Gaffer

Kirk Can’t Vote After Tuesday | The Weekly Standard
Jan 16, 2010 ... Appointed Senator Paul Kirk will lose his vote in the Senate after Tuesday’s election in Massachusetts of a new senator and cannot be the 60th ... a new senator’s term begins and the term of an appointed senator ends. ...
www.weeklystandard.com/.../barnes-massachusetts-senatorial-race-and-obamacare -


19 posted on 01/28/2010 2:25:28 PM PST by WellyP
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