Page 1 of 6 123 ... LastLast
Results 1 to 10 of 54

Thread: With Eye to 2010 Election, Dems Prepare to Raise U.S. Borrowing Limit by Nearly $2T

  1. #1
    Sage

    Join Date
    Jul 2009
    Last Seen
    05-16-15 @ 02:32 PM
    Lean
    Undisclosed
    Posts
    12,537

    With Eye to 2010 Election, Dems Prepare to Raise U.S. Borrowing Limit by Nearly $2T

    FOXNews.com - With Eye to 2010 Election, Dems Prepare to Raise U.S. Borrowing Limit by Nearly $2T

    Congress is poised to lift the federal borrowing limit by as much as $1.8 trillion before the end of this year, a number large enough to avoid revisiting the matter next year when Democrats will have to defend their majority in midterm elections.

    The Treasury is nearing the current debt ceiling of $12.1 trillion, and Congress must authorize raising the amount the United States can borrow to avoid the country going into default to its creditors.

    House Speaker Nancy Pelosi, D-Calif., said Thursday that the House would combine legislation raising the debt limit with a bill that funds the wars in Iraq and Afghanistan, greatly increasing the chances that the bill will clear Congress before the government can max out its credit card.

    "We have already raised it in the House but we need to have a vehicle so that the Senate can vote on it, and it is our intention to have something on the Department of Defense bill next week," she said at a news conference.

    House Minority Leader John Boehner, R-Ohio, said Republicans will vote against increasing the debt limit.

    "And we'll vote against it because of their trillion-dollar stimulus plan that hasn't worked. We'll vote against it because of all of this excessive spending that's in this bill right here, a 12 percent increase with 5,000 earmarks -- all of it pushing the debt to record heights," he said at a news conference.

    "Listen, they have made a habit of taking defense appropriation bills, bills that fund the support of our troops, and adding on there the most distasteful things they can think of, trying to make sure they get it passed on the backs of our soldiers," he added. "It's a bad way of doing business."

    But Democrats face a difficult task of folding the measure into the Defense spending bill, because House rules prevent additions of "air-dropped" items to legislation that has passed through both chambers. Democrats will need a two-thirds vote to overcome a likely Republican bid to strip the measure out of the spending bill.

    Pelosi could convert the spending bill into a "message" to avoid the "air-dropped" problem but the bill would then be sent to the Senate where it would be open to a filibuster.

    With government spending brushing up against the debt limit right now, Democrats have decided they would rather face the music now for hiking the ceiling to accommodate a massive annual deficit than deal with it next year when Republicans could seize on the matter for political gain in the 2010 congressional election.

    "We've incurred this debt. We have to pay our bills," House Majority Leader Steny Hoyer told Politico newspaper on Wednesday, confirming the $1.8 trillion figure.

    A Treasury official added that the best estimate now is that the United States will hit the debt ceiling in mid-to-late December.

    As lawmakers try to deal with a debt that nearly matches the annual U.S. economy, the House could vote as early as Thursday on a $446.8 billion year-end package that would provide up to a 10 percent increase of funding to more than a dozen Cabinet departments and agencies.
    Some notes:

    1. ONE POINT EIGHT TRILLION!

    2. MORE!

    3. They gotta get it done IN DECEMBER.

    4. Both House and Senate.

    5. Can't have it in 2010.

    6. How's that gonna impact Reid?

    7. They're all over the place.

    8. An unexpectedly converted deficit hawk after his China chats.

    9. A summiting JOBS warrior just last week.

    10. Promising payroll holidays, capital gains, small biz...

    11. A day ago, it's suddenly a Second Stimulus.

    12. Tacitly admitting that Plan Pelosi flopped, his only answer is---more of the same.

    13. Does he think Americans have forgotten his urgent admonitions to HURRY! HURRY! when it came to stimuli and bailouts?

    14. And now all know the money's not been spent and nothing has been accomplished.

    15. So they're gonna attach the Debt Ceiling as rider to a defense bill.

    16. Didn't they see this coming?

    17. Pelosi's as improvisational as her overplied president.

    18. "We have to pay our bills," hollers Hoyer.

    19. So cynical, on so many levels.

    20. At the same time, a HALF TRIL increase for cabinet secretaries.

    The Prof
    Last edited by The Prof; 12-10-09 at 09:42 PM.

  2. #2
    Dispenser of Negativity
    Cold Highway's Avatar
    Join Date
    May 2007
    Location
    Newburgh, New York and World 8: Dark Land
    Last Seen
    12-24-12 @ 11:21 PM
    Gender
    Lean
    Libertarian
    Posts
    9,596
    Blog Entries
    7

    Re: Dems To Raise Debt Ceiling by 1.8 Trillion

    2010 will be really interesting eh Prof?
    Jackboots always come in matched pairs, a left boot and a right boot.

  3. #3
    Sage

    Join Date
    Jul 2009
    Last Seen
    05-16-15 @ 02:32 PM
    Lean
    Undisclosed
    Posts
    12,537

    Re: Dems To Raise Debt Ceiling by 1.8 Trillion

    we got em

    they have no chance and no way out

  4. #4
    Dispenser of Negativity
    Cold Highway's Avatar
    Join Date
    May 2007
    Location
    Newburgh, New York and World 8: Dark Land
    Last Seen
    12-24-12 @ 11:21 PM
    Gender
    Lean
    Libertarian
    Posts
    9,596
    Blog Entries
    7

    Re: Dems To Raise Debt Ceiling by 1.8 Trillion

    Quote Originally Posted by The Prof View Post
    we got em

    they have no chance and no way out
    Well there is also the possibility of the dollar collapsing due to the insane spending and riots in the streets following said collapse. Of course that would be a scorched earth tactic that benefits no one.
    Jackboots always come in matched pairs, a left boot and a right boot.

  5. #5
    Sage

    Join Date
    Jul 2009
    Last Seen
    05-16-15 @ 02:32 PM
    Lean
    Undisclosed
    Posts
    12,537

    Re: Dems To Raise Debt Ceiling by 1.8 Trillion

    horrible times economically for patriotic, red, white and blue americans

    socially severe, as well

    plum pickings, tho, politically

    as positive a political outlook for people like you and i as i've ever seen

    hang in, friend, if you can

    cliff

  6. #6
    User
    Join Date
    Nov 2009
    Last Seen
    01-03-10 @ 06:41 PM
    Gender
    Lean
    Libertarian
    Posts
    88

    Re: Dems To Raise Debt Ceiling by 1.8 Trillion

    What's to worry - the rich will pay for it all! No one with incomes less than $250,000 will have to pay anything for any of this spending. So sit back, relax, and be comforted that you are benefiting from the grand and benign governing of the Democratic elite who knows what is best for you.

    I can't believe I just typed that shrek! Gotta go wash my hands off with some whiskey and disinfect them!

  7. #7
    Guru
    Morality Games's Avatar
    Join Date
    Jul 2009
    Location
    Iowa
    Last Seen
    05-24-16 @ 10:00 AM
    Gender
    Lean
    Centrist
    Posts
    3,733

    Re: Dems To Raise Debt Ceiling by 1.8 Trillion

    Well there is also the possibility of the dollar collapsing due to the insane spending and riots in the streets following said collapse. Of course that would be a scorched earth tactic that benefits no one.
    The collapse of the banking industry would have led to pandemonium as well, although in both cases most likely not to the extent you have imagined.
    If you notice something good in yourself, give credit to God, not to yourself, but be certain the evil you commit is always your own and yours to acknowledge.

    St. Benedict

  8. #8
    Banned
    Join Date
    Sep 2009
    Last Seen
    01-21-10 @ 02:59 PM
    Lean
    Undisclosed
    Posts
    744

    Re: Dems To Raise Debt Ceiling by 1.8 Trillion

    This is insanity....no, this is a crime, this is the reason we have a constitution, this country has gone off the rails!

  9. #9
    Sage

    Join Date
    Jul 2009
    Last Seen
    05-16-15 @ 02:32 PM
    Lean
    Undisclosed
    Posts
    12,537

    Re: Dems To Raise Debt Ceiling by 1.8 Trillion

    i don't know about the collapse of banking

    but those moneybags must not be behaving themselves

    cuz obama's gonna summon em to summit on monday

    gonna give em a real presidential down dressing

    meanwhile, 44% want bush back (ppp)

    Bush closes the gap - Ben Smith - POLITICO.com

    already

    it's that bad

  10. #10
    Guru
    Councilman's Avatar
    Join Date
    Apr 2009
    Location
    Riverside, County, CA.
    Last Seen
    11-04-11 @ 10:16 PM
    Gender
    Lean
    Conservative
    Posts
    4,454
    Blog Entries
    10

    Re: Dems To Raise Debt Ceiling by 1.8 Trillion

    What's new everyone knows the the Liberal motto if at first you don't succeed spend more of what you don't have on things that don't help until the Obama Kwanza miracle comes along on a magic Camel, or is that a magic carpet and Obama Bucks flow forth from the the Credit Fairy in an orgy tax and spend until there is nothing left to spend and no one left to tax.

    Then Obama can will be able rejoice in the season of success over his plan to destroy the Nation from within.

    Congratulations Liberals you're helping Obama do in one year what the Nation's other enemies couldn't do in 233 years and two World Wars, and cold war that lasted over 30 years.

    I hope you are proud of your fuhrer.

Page 1 of 6 123 ... LastLast

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •