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Dems to lift debt ceiling by $1.8 trillion, fear 2010 backlash
Politico ^ | 12/9/09 7:24 PM EST | David Rogers

Posted on 12/10/2009 6:07:51 AM PST by Red in Blue PA

In a bold but risky year-end strategy, Democrats are preparing to raise the federal debt ceiling by as much as $1.8 trillion before New Year’s rather than have to face the issue again prior to the 2010 elections.

“We’ve incurred this debt. We have to pay our bills,” House Majority Leader Steny Hoyer told POLITICO Wednesday. And the Maryland Democrat confirmed that the anticipated increase could be as high as $1.8 trillion — nearly twice what had been assumed in last spring’s budget resolution for the 2010 fiscal year.

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


TOPICS: Front Page News; Government; News/Current Events; Politics/Elections
KEYWORDS: 111th; 2010; 2010election; 2010midterms; backlash; congress; democrats; economy; elections; fearfuldems; federaldebt; taxes
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1 posted on 12/10/2009 6:07:51 AM PST by Red in Blue PA
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To: Red in Blue PA

Last spring, the Democratic-backed budget proposed to raise this to about $13 trillion, but given the current pace of borrowing, no one now expects that will be sufficient to get through 2010.


2 posted on 12/10/2009 6:09:19 AM PST by Red in Blue PA (Obama, Hitler, Stalin: Who are 3 people nominated for the Nobel Peace Prize.)
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To: Red in Blue PA

““We’ve incurred this debt. We have to pay our bills,” “

We?


3 posted on 12/10/2009 6:09:39 AM PST by VanDeKoik (Iran doesnt have a 2nd admendment. Ya see how that turned out?)
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To: Red in Blue PA

Our children, grandchildren and great-grandchildren will never forgive us.


4 posted on 12/10/2009 6:10:49 AM PST by originalbuckeye
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To: VanDeKoik

2010. You’re fired !


5 posted on 12/10/2009 6:11:10 AM PST by Eric in the Ozarks (Impeachment !)
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To: Red in Blue PA
“We’ve incurred this debt. We have to pay our bills,”

Borrowing is not the same as paying, you B0z0s.

6 posted on 12/10/2009 6:11:19 AM PST by Paladin2
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To: originalbuckeye

An we don’t forgive our parents and grandparents. After all, it was FDR that really got all this crap going.


7 posted on 12/10/2009 6:13:16 AM PST by HerrBlucher (Jail Al Gore and the Climate Frauds!)
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To: Red in Blue PA

a wealth of information (so to speak) on this site- note the historical growth of debt and the astounding pace of this growth since obamas coronation

http://www.treasurydirect.gov/NP/BPDLogin?application=np


8 posted on 12/10/2009 6:13:53 AM PST by silverleaf (More folks being invited to the White House for Holiday parties than are being sent to Afghanistan)
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To: Red in Blue PA
“We’ve incurred this debt. We have to pay our bills,”

No. YOU incurred this debt, and WE have to pay YOUR bills.

9 posted on 12/10/2009 6:17:27 AM PST by concerned about politics ("Get thee behind me, Liberal")
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To: HerrBlucher

“After all, it was FDR that really got all this crap going.”

While FDR certainly helped move it along the ‘progressives’ were active long before him.


10 posted on 12/10/2009 6:20:33 AM PST by driftdiver (I could eat it raw, but why do that when I have a fire.)
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To: Red in Blue PA

there is no ceiling, liars.


11 posted on 12/10/2009 6:26:01 AM PST by chuck_the_tv_out ( <<< click my name: now featuring Freeper classifieds)
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To: concerned about politics

A lot of moderates and independents and of course some moron Republicans backed B0 last year because they were unhappy that Bush and the GOP had become a big spending party. They actually believed the Dems would bring fiscal discipline?! We knew at the time these people were nuts but they were blind to reality.


12 posted on 12/10/2009 6:26:05 AM PST by TNCMAXQ
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To: Red in Blue PA

$1.8 trillion would cover one year of Obama deficits.


13 posted on 12/10/2009 6:31:02 AM PST by Jim from C-Town (The government is rarely benevolent, often malevolent and never benign!)
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To: Red in Blue PA

Too late idiots. You’d be far better off just resigning now, because if somehow you get re-elected, you’ll wish you hadn’t been.


14 posted on 12/10/2009 6:36:04 AM PST by Overtaxed Patriot (Lock and load.)
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To: Red in Blue PA

The dirty secret is that if the economy continues to plummet, and unemployment remains high, the Congress will probably come back to this next Spring and raise it another $2 Trillion at that time.

It is precisely because of this that Moody’s is threatening to downgrade the US’s AAA credit rating; which is probably why the Federal Government just announced an investigation of Moody’s (and others...).


15 posted on 12/10/2009 6:37:44 AM PST by Bean Counter (Stout Hearts....)
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To: Red in Blue PA

Why bother having a debt ceiling if everytime you get near it, you just raise it?


16 posted on 12/10/2009 6:38:28 AM PST by autumnraine (You can't fix stupid, but you can vote it out!)
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To: TNCMAXQ
They actually believed the Dems would bring fiscal discipline?! We knew at the time these people were nuts but they were blind to reality.

Remember Obomas campaign promises? He was going to give a tax break to all middle class Americans. He was going to pay off the national debt. He was going to reduce useless social programs. He was going to create millions of new jobs. He was going to reduce government waste. He was going to end all wars and bring peace to the world. He was big on family unity, and of course, was going to try to limit abortions in this country.
Oboma ran as a Conservative. His Marxism and Alinski lies were well hidden by the liberal press, so the voters never got to see his dark side.

17 posted on 12/10/2009 6:39:39 AM PST by concerned about politics ("Get thee behind me, Liberal")
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To: sickoflibs; DoughtyOne; stephenjohnbanker; concerned about politics

If we had a majority of sane people in charge, they would at least back away from TARP-Funds-for-stimulus-slush-fund, Obamacare, and Crap and Trade, but maybe they think their only chance in 2010 is to bet all their chips on what they have been doing. Unfortunately, “their chips” are really our chips.


18 posted on 12/10/2009 6:40:13 AM PST by ding_dong_daddy_from_dumas (Joe Wilson said "You lie!" in a room full of 500 politicians. Who was he talking about?)
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To: Bean Counter
It is precisely because of this that Moody’s is threatening to downgrade the US’s AAA credit rating; which is probably why the Federal Government just announced an investigation of Moody’s (and others...).

Mafia style politics. (Watch for Moody related "suicides").

19 posted on 12/10/2009 6:43:08 AM PST by concerned about politics ("Get thee behind me, Liberal")
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To: Red in Blue PA

Moodys is downgrading US instruments next year. The looters and moochers all thought that they could push their irresponsibility on future generations. They thought they would be long dead when the disaster struck. It is here. Next year maybe, year after for sure.

Spend spend spend. No thought of tomorrow. Gimmee gimmee gimmee. Spend spend spend. Irresponsible, greedy, whining moochers. They’ve destroyed us.


20 posted on 12/10/2009 6:45:44 AM PST by Seruzawa (If you agree with the French raise your hand - If you are French raise both hands.)
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To: Red in Blue PA

Hoyer says? Check any measure of economic health(employment, stock market, price of gold, etc) and compare today with Jan 2006 when Pelosi/Reid/Hoyer took control of Congress. Where is the RNC on this? Why aren’t Boehner/McConnell slipping this into every comment they make to the media? Why doesn’t every GOP pundit come back with this every time the Dems criticize GOP/Bush spending? The Dems know how to fight. It is high time the Pubbies took a few pages out of their playbook.


21 posted on 12/10/2009 6:49:53 AM PST by csmusaret (Barack Hussein Obama: The bend over and suckup President.)
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To: Red in Blue PA

I’m looking forward to a bloodbath in 2010. I can’t wait to see the ass-kicking we are going to give Specter.


22 posted on 12/10/2009 6:51:58 AM PST by thethirddegree
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To: Bean Counter
It is precisely because of this that Moody’s is threatening to downgrade the US’s AAA credit rating; which is probably why the Federal Government just announced an investigation of Moody’s (and others...).

The USD buys only 352 Zimbabwe dollars today, down from 355 last month.


23 posted on 12/10/2009 6:52:27 AM PST by ding_dong_daddy_from_dumas (Joe Wilson said "You lie!" in a room full of 500 politicians. Who was he talking about?)
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To: Seruzawa
They’ve destroyed us.

This country neesds to split in two very badly. The liberals can bankrupt themselves and in about 10 years they will be in abject poverty. Whatever happens, the conservative nation must regard them as enemies. After all, the liberals already regard the conservatives as mortal enemies and will not stop trying to destroy them.

24 posted on 12/10/2009 6:56:07 AM PST by 17th Miss Regt
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To: csmusaret
It is obvious to me that the GOP is the Idiot Party, or just a part of the major plan to destroy this country. The GOP does not give a sh*t because they have their money and power. IOW, Screw You!

Why to you think that people are desperately pulling for a third party, whether it fails or not? When the Titanic is sinking the passengers will grab a deck chair if they need to.

This is an obvious win point that is in the bag. The GOP is not interested! If they were they would be SCREAMING from the rooftops.

The NWO is blossoming before our eye's and the players are there to see! Move along, and ask Santa for more ammo. God bless.

25 posted on 12/10/2009 6:57:41 AM PST by gathersnomoss (General George Patton had it right.)
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To: Red in Blue PA; All
Liars and hypocrites...

Pelosi Says She Would Drain GOP 'Swamp'

Day Two: House passes new budget rules

Pelosi: Democratic Budget Resolution Restores Fiscal Responsibility and Accountability

Pelosi: Pay-As-You-Go Legislation Will Help Return Our Nation to Sound Fiscal Health

26 posted on 12/10/2009 6:58:49 AM PST by Virginia Ridgerunner (Sarah Palin has crossed the Rubicon!)
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To: csmusaret
Hoyer says? Check any measure of economic health(employment, stock market, price of gold, etc)

Gold - Gold is at an all time high. That means anyone who sells now, or soon, makes a fortune. What if those who play the money market, like...say....Soros, decided to sell off big? The stocks would plummet, and all those holding high priced gold would lose a bloody fortune! The gold market would....opps! Crash!

The moral of this story? Never put all your golden eggs into one basket.

27 posted on 12/10/2009 7:01:00 AM PST by concerned about politics ("Get thee behind me, Liberal")
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To: Red in Blue PA

Backlash? How about armed insurrection?


28 posted on 12/10/2009 7:08:38 AM PST by CPT Clay (Pick up your weapon and follow me.)
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To: Virginia Ridgerunner
"The vote was 280-to-154 to reinstate the so-called "pay as you go" rule. It requires that any increase in entitlement spending or tax cut be somehow offset so as to not to increase the deficit."

It would be funny if it was not destroying our economy.

29 posted on 12/10/2009 7:10:32 AM PST by ding_dong_daddy_from_dumas (Joe Wilson said "You lie!" in a room full of 500 politicians. Who was he talking about?)
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To: Red in Blue PA

Oh yeah this and STIMULUS 2 slush fund to pay off Obama’s cronies will save them in the polls. LOL


30 posted on 12/10/2009 7:15:16 AM PST by Dubya-M-DeesWent2SyriaStupid!
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To: Red in Blue PA

These craven oligarchs are bankrupting the nation.

Madness. Utter complete madness.

Mrs. Palin, we desperately need some high-profile and relentless attacks on this insanity. The nation stands at the brink.


31 posted on 12/10/2009 7:15:56 AM PST by Claud
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To: Red in Blue PA

Learn a lesson, America. You elected Democrats to Congress and the White House and gave them absolute majorities because you were told we were fighting an unjust, immoral war and you wanted to show you were pissed off about it.

Well, now reap the consequences.


32 posted on 12/10/2009 7:16:42 AM PST by libh8er
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To: Overtaxed Patriot; All

All in Congress should be shackled in chains (much like we’ve been shackled) and made to spend the rest of their lives working on some sort of chain gang to pay to the monstrosities they have helped create.


33 posted on 12/10/2009 7:19:02 AM PST by Red in Blue PA (Obama, Hitler, Stalin: Who are 3 people nominated for the Nobel Peace Prize.)
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To: CPT Clay

I never thought it would come to that......cannot say that anymore.


34 posted on 12/10/2009 7:19:48 AM PST by Red in Blue PA (Obama, Hitler, Stalin: Who are 3 people nominated for the Nobel Peace Prize.)
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To: ding_dong_daddy_from_dumas

Soon that pic will have a US dollar in it!


35 posted on 12/10/2009 7:20:33 AM PST by Red in Blue PA (Obama, Hitler, Stalin: Who are 3 people nominated for the Nobel Peace Prize.)
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To: concerned about politics

In recent years gold has moved in exactly the opposite direction of the solvency of the USA.


36 posted on 12/10/2009 7:21:13 AM PST by csmusaret (Barack Hussein Obama: The bend over and suckup President.)
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To: Red in Blue PA

Amen


37 posted on 12/10/2009 7:22:05 AM PST by CPT Clay (Pick up your weapon and follow me.)
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To: Red in Blue PA

When I was a youngin’ I asked an Econ professor. What happens when we reach the debt ceiling. (I did acknowlege to him it was a stupid ?) His answer: “ The debt ceiling is raised”

He mentioned elections being very important.


38 posted on 12/10/2009 7:42:59 AM PST by Marty62 (former Marty60)
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To: originalbuckeye

And the premeditated, deliberate bankruptcy of the USA continues........


39 posted on 12/10/2009 7:43:31 AM PST by stephenjohnbanker (Support our troops, and vote out the RINO's!)
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To: ding_dong_daddy_from_dumas

100 billion buya a 3 egg omelet....whoops! add 20 billion more for butter ;-)


40 posted on 12/10/2009 7:45:21 AM PST by stephenjohnbanker (Support our troops, and vote out the RINO's!)
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To: Red in Blue PA

41 posted on 12/10/2009 7:49:56 AM PST by cranked
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To: Red in Blue PA

Yea, pay that interest by printing more money. BRILLIANT.

/wrist


42 posted on 12/10/2009 7:51:11 AM PST by Danae (No political party should pick candidates. That's the voters job.)
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To: Thud

A $1.8 trillion debt ceiling won’t be enough the way Federal tax revenues are cratering.

People are taking their earnings into the non-bank cash only black economy so fast and large that US federal and State tax collection is going to look like Italy’s...AKA only fools pay taxes.


43 posted on 12/10/2009 7:52:10 AM PST by Dark Wing
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To: Red in Blue PA

Only $1.8 trillion? That won’t get us through another 12 months of this President and Congress. And to think of when I complained of deficits in the $200 billion range.


44 posted on 12/10/2009 7:55:13 AM PST by Hoodat (For the weapons of our warfare are mighty in God for pulling down strongholds.)
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To: stephenjohnbanker
And the premeditated, deliberate bankruptcy of the USA continues........

No, no, no! We don't say "bankruptcy," we say "global economic fairness adjustment!"

45 posted on 12/10/2009 7:59:19 AM PST by ding_dong_daddy_from_dumas (Joe Wilson said "You lie!" in a room full of 500 politicians. Who was he talking about?)
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To: ding_dong_daddy_from_dumas

I can think of one “fairness adjustment” right now......I don’t dare post it ;-)


46 posted on 12/10/2009 8:03:24 AM PST by stephenjohnbanker (Support our troops, and vote out the RINO's!)
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To: stephenjohnbanker
I can think of one “fairness adjustment” right now......I don’t dare post it ;-)

I can imagine.

47 posted on 12/10/2009 8:14:41 AM PST by ding_dong_daddy_from_dumas (Joe Wilson said "You lie!" in a room full of 500 politicians. Who was he talking about?)
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To: stephenjohnbanker

Yep. And all because Big Media allowed Zero to get away with all his campaign lies. They knew. They knew. And this is what they also wanted all along.


48 posted on 12/10/2009 8:20:32 AM PST by originalbuckeye
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To: originalbuckeye

And they are going to rue the day. Death to the big three.

Cable and the internet will bury them alive.


49 posted on 12/10/2009 9:26:43 AM PST by stephenjohnbanker (Support our troops, and vote out the RINO's!)
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To: Red in Blue PA

POSTED YESTERDAY!

http://www.freerepublic.com/focus/f-news/2404183/posts


50 posted on 12/10/2009 9:54:25 AM PST by BradtotheBone (Moderate Democrat - A politician whose voting record leans left and whose vote can be bought.)
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