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Thread: Democrats propose $1.9T increase in debt limit

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    Democrats propose $1.9T increase in debt limit

    Democrats propose $1.9T increase in debt limitWASHINGTON – Senate Democrats on Wednesday proposed allowing the federal government to borrow an additional $1.9 trillion to pay its bills, a record increase that would permit the national debt to reach $14.3 trillion.

    The unpopular legislation is needed to allow the federal government to issue bonds to fund programs and prevent a first-time default on obligations. It promises to be a challenging debate for Democrats, who, as the party in power, hold the responsibility for passing the legislation.

    ...

    The record increase in the so-called debt limit is required because the budget deficit has spiraled out of control in the wake of a recession that cut tax revenues, the Wall Street bailout, and increased spending by the Democratic-controlled Congress. Last year's deficit hit a phenomenal $1.4 trillion, and the current year's deficit promises to be as high or higher.
    Yes people, keep telling us we "need to raise taxes", "tax the rich", "tax the greedy", etc etc etc.

    Don't you even THINK about holding back on spending.
    Last edited by Scarecrow Akhbar; 01-21-10 at 04:19 PM.

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    Re: Democrats propose $1.9T increase in debt limit

    Quote Originally Posted by Scarecrow Akhbar View Post
    Yes people, keep telling us we "need to raise taxes", "tax the rich", "tax the greedy", etc etc etc.

    Don't you even THINK about holding back on spending.
    hopefully money can be abolished or something epic
    Don't tread on me= Don't tread on my corporate masters

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    Re: Democrats propose $1.9T increase in debt limit

    Quote Originally Posted by Z3n View Post
    hopefully money can be abolished or something epic
    Why hope for something stupid like that.

    Rather, hope for the death of socialism, which is the cause of the problem.

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    Re: Democrats propose $1.9T increase in debt limit

    Quote Originally Posted by Scarecrow Akhbar View Post
    Why hope for something stupid like that.

    Rather, hope for the death of socialism.
    its called a joke.
    Don't tread on me= Don't tread on my corporate masters

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    Re: Democrats propose $1.9T increase in debt limit

    Quote Originally Posted by Z3n View Post
    its called a joke.
    I call socialism a joke.

    What do you call it?

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    Re: Democrats propose $1.9T increase in debt limit

    Quote Originally Posted by Scarecrow Akhbar View Post
    I call socialism a joke.

    What do you call it?
    SAMESIES (10 char)
    Don't tread on me= Don't tread on my corporate masters

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    Re: Democrats propose $1.9T increase in debt limit

    So we're gonna pay our maxed-out Visa with our maxed-out Mastercard.

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    Re: Democrats propose $1.9T increase in debt limit

    1. 1.9T!!!

    2. In December, leadership tried for a more modest (LOL!) increase of 1.2

    3. But it was scheduled SIMULTANEOUS with health care's final push

    4. Stunningly stupid politics

    5. It's demonstrable---the party can't plan two moves ahead

    6. So leadership laid off, settling instead for a TEMPORARY raise of 290B

    7. Good for an entire SIX WEEKS!

    8. Apparently, now that health care is kaput the course is clear to RAISE THE ROOF

    9. Just two weeks ago Geithner's Treasury Dept, with zero congressional backing, lifted all limits on taxpayer liability for any and all obligations incurred by Fannie and Fred

    10. Massachusetts, for those not totally tone deaf to the American disposition, was all about deficits, debt and the dole

    11. The voter feels a primeval, in-the-gut awareness that the govt's accounts are all askew

    12. Careening over cliffs, $1.9T tall, palms sealed hermetically over ears

    13. Bid bye bye, Barbara Boxer

    14. Still, it will NEVER pass, this 1.9T increase in the credit card

    15. The worst of all worlds, as always, for the worried wonks in Washington

    16. Comprehensively responsible for politics repulsive

    17. With no pot of payback at the end

    18. In a related and equally regrettable development, the December JOBS REPORT has once more been revised downward

    http://www.thebostonchannel.com/mone...10/detail.html

    19. Once more, statistics unexpected, disappointing, ominous projecting forward, and, most significantly, reversing the trajectory of new jobless claims which, up to December, were declining

    20. The president pivots improvisationally to populism contemporaneous with his party's attempt to raise the debt ceiling ONE POINT NINE TRIL

    21. So Baucus, the locked out Gatekeeper of Health Care, observes, "we have gone to the restaurant, we have eaten the meal..."

    22. As out of touch as Obama, who disses Scott Brown's GM truck which, according to our tin eared president, "everybody can buy"

    23. Most Americans aren't going to too many restaurants, Senator Baucus

    24. The credit card's been maxed out
    Last edited by The Prof; 01-21-10 at 09:03 PM.

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    Re: Democrats propose $1.9T increase in debt limit

    Quote Originally Posted by The Prof View Post
    14. Still, it will NEVER pass, this 1.9T increase in the credit card
    Sure it will.

    Just watch.

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    Re: Democrats propose $1.9T increase in debt limit

    Just a continuation of the last administration. How many times did they raise the debt ceiling and we weren't even in a recession. The economy was booming and still they had record deficits. Go figure.

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