Posted on 10/05/2004 2:36:26 PM PDT by Ed Current
The government is poised to hit the national debt's $7.4 trillion ceiling this month, and yesterday the Bush administration told Congress again that it should raise the limit.
That would be a politically sticky move just weeks from the Nov. 2 elections.
Rob Nichols, Treasury Department spokesman, said the government is on track to reach the limit early this month. He said that the forecast is made "on a day-to-day basis" and that Congress would be notified.
The government can juggle accounts to stay under the limit through mid-November to avoid default, as it has in the past.
(Excerpt) Read more at boston.com ...
The national debt on October 05: $7,414,553,180,295.70
Your share of the national debt: $25,181.40
OpinionJournal - Featured Article
Drunken GOP Sailors
Even Bill Clinton and a Democratic Congress didn't spend like this.
Amazing as it may sound, the ostensibly small-government GOP seems totally oblivious to the fact that all this spending puts its future economic agenda in jeopardy.
Let Teraysa write a check to clear this up!
What % of GDP? Compare that to the debt of the 80's it's a smaller percentage..
If spending is so out of control, and I'm sure it is, let's start where the waste really is: the Dept. of Education, the welfare system, and free pills for old people. Funny how the Democrats never take the hit for this, it's always Bush's fault!
There is a ceiling on the national debt? Why?
Not my problem. Every Generation deals with debt. No big deal.
Elsewhere, no one gives a RATS A$$!
Since I probably won't be getting my social security "benefits" when the time comes (and even if I do, it will amount to a 40+ year free float to the government in which they get all the interest and I get nothing), as far as I'm concerned my "share" of that national debt is already paid in full.
That's dangerous. Perhaps we should pass a law saying, "all persons born on or after January 1, 1956 shall be ineligible for any Social Security benefits whatsoever; however, they shall be liable to make appropriate contributions to the system as if they would have been eligible for benefits."
Small government GOP? riiiggghhhtttt.
My share of the national assets greatly exceeds 25,000. I have a share in the most massive defense structure ever built, the greatest road and delivery systems ever constructed, the best ports ever made, the greatest economic system ever devised, the best educated people ever to walk the planet. All this and more and I'm supposed to get upset about debt that cost me less than 4.00 per day ?
and the ......World's debt is....?
LOL!
PLease remove the 40 illegal Mexicans and their families I've supported these last 20 years or so from MY portion of the debt!!! LOL!
You can never have a cutoff of Social Security benefits like that. Very long-term sliding scale, if at all...
And just what has Bush done to limit the Department of Education or reform welfare? And let us not forget that it was Bush and the Republican House and Senate who foisted the pills for old people on us in the first place. So yes, dammit, this IS Bush's fault.
Very true --- but the national debt is almost a moot point. IMHO, it will NEVER be paid back. How can it be paid back when it just continues to go up???
Basic arithmetic...combined with the fact that Washington, as a whole, is OUT OF CONTROL.
Not the GDP, but I think I had read recently that the total economy of the US is 45 trillion dollars. National debt is 16.4%.
Not great, but if my debt to asset ratio were the same I wouldn't feel too bad.
Nuff said.
How about not spending so much of our f*cking MONEY??? Is that too much to ask?
NO! what we need to do to save Social Security is do what Bush say's and start personal accounts that the government can't touch for younger people so that they will have Social Security when the become of age, otherwise they will get nothing!
"Even Bill Clinton and a Democratic Congress didn't spend like this."
That's because (1) they cut the military, and (2) you had more conservatives than today (today we have neocons -- rrrrrrrrr).
We spend so much money on crap, but unfortunately it's crap that has advocacy groups protecting it (NEA, AARP, etc.). And then there was this recent health care bill which was just sickening.
I love trolls who come on here whining about GOP spending when they know DAMN well that Democrats have purposed TWICE and much spending.
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