Skip to comments.Dems to lift debt ceiling by $1.8 trillion, fear 2010 backlash
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 Years rather than have to face the issue again prior to the 2010 elections.
Weve 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 springs budget resolution for the 2010 fiscal year.
(Excerpt) Read more at politico.com ...
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.
“Weve incurred this debt. We have to pay our bills, “
Our children, grandchildren and great-grandchildren will never forgive us.
2010. You’re fired !
Borrowing is not the same as paying, you B0z0s.
An we don’t forgive our parents and grandparents. After all, it was FDR that really got all this crap going.
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
No. YOU incurred this debt, and WE have to pay YOUR bills.
“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.
there is no ceiling, liars.
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.
$1.8 trillion would cover one year of Obama deficits.
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.
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...).
Why bother having a debt ceiling if everytime you get near it, you just raise it?
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.
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.
Mafia style politics. (Watch for Moody related "suicides").
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.
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.
I’m looking forward to a bloodbath in 2010. I can’t wait to see the ass-kicking we are going to give Specter.
The USD buys only 352 Zimbabwe dollars today, down from 355 last month.
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.
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.
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.
Backlash? How about armed insurrection?
It would be funny if it was not destroying our economy.
Oh yeah this and STIMULUS 2 slush fund to pay off Obama’s cronies will save them in the polls. LOL
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.
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.
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.
I never thought it would come to that......cannot say that anymore.
Soon that pic will have a US dollar in it!
In recent years gold has moved in exactly the opposite direction of the solvency of the USA.
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.
And the premeditated, deliberate bankruptcy of the USA continues........
100 billion buya a 3 egg omelet....whoops! add 20 billion more for butter ;-)
Yea, pay that interest by printing more money. BRILLIANT.
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.
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.
No, no, no! We don't say "bankruptcy," we say "global economic fairness adjustment!"
I can think of one “fairness adjustment” right now......I don’t dare post it ;-)
I can imagine.
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.
And they are going to rue the day. Death to the big three.
Cable and the internet will bury them alive.