SumOfAllFears
Grim Reaper of Misguided Liberal Souls
Posts: 18,213
Joined: Nov 2008
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I Root For: America
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Democratic-controlled Senate Raise Debt Ceiling $1.9Tabout $45,000 for every American
The Democratic-controlled Senate has muscled through a plan to allow the government to go a whopping $1.9 trillion deeper in debt. The party-line 60-40 vote was successful only because Republican Sen.-elect Scott Brown has yet to be seated. Sixty votes were required to approve the increase. The measure would lift the debt ceiling to $14.3 trillion. That's about $45,000 for every American. Democrats had to scramble to approve the plan, which means they won't have to vote on another increase until after the midterm elections this fall. This action will let the government continue borrowing almost 40 percent of what it spends, much of it from China and other Asian nations who buy U.S. securities. "It took 200 years to build the federal debt to a total of $1.9 trillion," Sen. Judd Gregg, a Republican, said. "Now the majority wants to increase the current limit ... by $1.9 trillion so that we can finance the government's borrowing binge long enough to get us past the November 2010 elections."
http://www.breitbart.com/article.php?id=...rticle=1It
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01-29-2010 11:52 PM |
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smn1256
I miss Tripster
Posts: 28,878
Joined: Apr 2008
Reputation: 337
I Root For: Lower taxes
Location: North Mexico
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RE: Democratic-controlled Senate Raise Debt Ceiling $1.9Tabout $45,000 for every American
I believe the GOP has done similar things before, but since the O and Reid are in charge they get to take the heat. Comes with the job.
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01-30-2010 09:11 PM |
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