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 ...
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.
““We’ve incurred this debt. We have to pay our bills,” “
We?
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
http://www.treasurydirect.gov/NP/BPDLogin?application=np
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.
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