Skip to comments.Senate sets Christmas eve vote on U.S. debt limit
Posted on 12/22/2009 4:06:35 PM PST by Typical_Whitey
WASHINGTON (Reuters) - The U.S. Senate on Tuesday set a Christmas Eve vote on final congressional approval of a bill to provide a two-month increase in the federal debt limit.
The measure, passed last week by the House of Representatives, would increase the debt limit, now at $12.1 trillion, by $290 billion.
Senate Democrats may approve the measure largely by themselves because most, if not all, Republicans are expected to vote against it, Republican aides said. Democrats control the Senate, 60-40.
(Excerpt) Read more at reuters.com ...
The major portion of defecit spending that Bush left was the 700 billion TARP bail-out money. That money was a loan. A loan that averted a crisis and which according to Obama himself, worked better then anyone anticipated and is being paid back by the banks with Interest.
Obama hoodwinked Americans into thinking that debt was left to him from Bush but if it gets paid back then it was never debt it was a loan.
Obama is trying to spend that money and still blame Bush for spending it?
This is criminal. There should be a full investigation into those funds and the GOP should be up front forcing Obama to pay that money back to the treasury so that it can be straight defecit reducing at the same time they should be making noise that this money exonorates Bush of liability from that portion of defecit.
Never let them rewrite history.
I thought the ‘rats were going for a $2 trillion debt ceiling increase so they wouldn’t have to up it again until after the next round of elections
My oh My, someone must have had a call from the Chinese
Oh, goodie! Here comes another warm, steaming pile of goodness from our Congress on Christmas Eve!
Thanks a lot, McConnell. You gave them a twofer. You were Mr. Nice Guy and they screwed you and us for your efforts. Screwed us twice on Christmas Eve and without even so much as a reach around.
This blasphemy of our LORD on the eve of HIS birth. These bastard will rot in hell!!
He--and a Republican Congress--left a LOT more than that.
The total Federal public debt outstanding on 30 September 2001 was $5,807,463,412,200.06.
The total Federal public debt outstanding on 30 September 2008 was $10,024,724,896,912.49.
You do the math.
That's an increase in on-balance-sheet Federal public debt of roughly $4.3 Trillion, all prior to the enactment of TARP, and excluding debts created from 20 January 2001 to 30 September 2001, as well as the unfunded liabilities such as Medicare Part D that were created while the Republicans controlled both Congress and The White House from the beginning of Bush's first term through 20 January 2007, following their losses in the November 2006 elections.
The fact of the matter is that the official total U.S. public debt outstanding in 2001 was ~$5.7 Trillion, and that the same figure in 2008 was ~$10 Trillion.
Of course those things cost money.
Then spend YOUR own money instead of committing me to spend MY future money.
Nope I don’t Capiche are you saying that if a terrorist blows up a city that the federal government should not spend taxpayer money to set things right?
You have taken the small government business a little too far. Our government does exist to protect the people, Bush spent Trillions to keep us safe, Obama on the other hand is recklessly spending money on things like Stimulus that didn’t work and healthcare that won’t work and isn’t what the people want.
There are huge differences in Why a president spends money, Again my point is Bush spend money because HE HAD TO.
OBAMA SPENDS MONEY BECAUSE HE WANTS TO
Who blew up a city?
Our government does exist to protect the people
There is a very fine shade of difference between "protecting" the people and merely providing for a common defense.
As far as I am concerned, the Federal government failed on all counts on September 11, 2001.
Bush spent Trillions to keep us safe
How many of those trillions were used for nation-building and foreign aid give-aways?
How many of those trillions were used for his pet projects that expanded the Federal government, e.g., Medicare Part D, No Child Left Behind?
Obama on the other hand is recklessly spending money on things like Stimulus that didnt work
The first stimulus in 2008 was authorized by Bush.
It didn't work either.
There are huge differences in Why a president spends money
I don't care any more WHY you are spending MY future money.
I do care that you stop spending MY future money, PERIOD.
If you want to engage in significant military action around the world that includes nation-building, then stop perpetrating accounting chicanery on the American electorate and directly increase taxes to pay for the war instead of indirectly increasing taxes via deficit spending and long-term inflation.
We disagree, I see Iraq as more a strategic success in the GWOT, I understand why Bush went there completely and thank God that he did and it doesn’t matter to me how much money he spent to do it because my family is priceless, Just like I don’t mind how much Obama spends to send troops to Afghanistan or how much the government spends arming our troops, don’t care because that is exactly what I want my tax dollars used for. Same reason I want a fire marshall to condemn buildings and firemen and policemen to be well armed and vigilant and available in my neighborhood.
You apparently are a hardcore Libertarian so we won’t find common ground on many issues.
However, you would be remiss and possibly a troll if you didn’t find fault in the trillions of wasted dollars that OBAMA has spent, and the absolute nonesense of this Healthcare debacle that is going to cost multiple trillions in entitlement fees.
The whole purpose of the article wasn’t for you to BASH BUSH you poor BDS sufferer. It was to show you just how utterly out of touch and incompetent the DEMOCRAT majority controlled marxist government of the USA has become.
I guess the Republicans needed a little wine with their healthcare vote.
It is obvious you(republicans) were the one's wanting your wine and cheese on Christmas Eve. The dimlights are going to still be working without you.
The whole purpose of the article wasnt for you to BASH BUSH you poor BDS sufferer.
Instead of refuting my points, you suggest that I might be a troll and label me as suffering from BDS.
And yes, I am going to find fault with Obama, just as I am going to find fault with Bush.
But I do care how much the Federals spend, no matter how noble, proper, or right the cause that they are funding may be.
Merry ChristX !!every one!!
A Christmas Eve vote is Barry the Kenyan’s way of giving his serfs and Chritianity the finger. Disgraceful, absolutely disgraceful.
Despicable!!!! I feel like I am living in a dream world. Christmas Eve, those bastards! I wish for them the worst life has to offer.
No child left behind
Couldn’t find his veto pen
Bush was a disaster
Neither party ever observes it. The "debt limit" (or "debt ceiling") is regularly raised, as a matter of convenience. (Actually, more like a matter of financial irresponsibility.)
It is as if a person with a credit card could unilaterally raise his (or her) own "limit" at will, simply by calling the credit-card company and announcing that he (or she) had done so.