Posted on 05/10/2005 3:47:39 PM PDT by RWR8189
Washington, DC, May. 3 (UPI) -- The U.S. House has sent legislation to the Senate that would raise the federal debt limit to nearly $9 trillion, a $781 billion increase.
The House agreed to the increase under an automatically executing provision in the 2005 budget resolution approved by the House and Senate late last week.
The House officially sent the Senate a separate piece of debt-relief legislation increasing the limit as mandated by the self-executing provision in the budget resolution.
Gaining approval of the separate bill through the gambit avoided the need for a politically costly debate on the House floor over increasing the debt ceiling again and highlighting the inter-party split on the issue.
Fiscal conservatives within the GOP have been clamoring for greater fiscal discipline on budget matters considering the massive federal deficits, estimated to reach another record in dollar terms this year, for the second consecutive year.
(Excerpt) Read more at washingtontimes.com ...
Just a thought but I think the expatriate movement is really going to pick up steam as time goes by and people realize that they will be enslaved for their debts in the country.
12 zeros! they are out of control!
when will people wake up? when do we start dumping tea?!
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A patriot must always be ready to defend his country against his government.
-Edward Abbey
They should just raise it to $999,999,999,999,999,999,999,999,999,999,999,999,999,999,999,999,999,999,999,999,999,999,999,999,999,999,999,999,999,999,999,999,999,999,999,999,999,999,999.02 and be done with it.
Actually, if you are looking to emigrate, I think Australia is in a major economic boom right now. I had read a while back about Perth and vicinity doing very well (in part, I seem to remember that they have had some major mineral strikes), and apparently other parts of Australia are also enjoying a nice boom now.
Also, I believe that Australia's government budget is in the black. However, I believe that they are still net importers (ie, Australia runs a trade deficit, a strong and persistent one if memory serves.)
Also, I seem to remember that Australians have more holiday time than we do.
American dollars, though weaker than they used to be against the Aussie dollar, I think still aren't all that weak.
Yeah! And while they're at it they could just print as many dollar bills and they need and retire the whole debt!!! Woohoo!
The United States is a bankrupted proposition.
Just more compassionate conservatism in action. I don't know how much more this nation of states can handle of the one political party in Washington..
Spiff, WOW
Those cahrts are certainly illuminating, and disgusting, and disheartening and, and........WOW
Now I know what a "compassionate conservative" is.
Not even Rush can pretend the GOP is fiscally conservative.
Bush doing the "rope-a-dope" as you call would be even more repelling than him being truthful and in effect telling us 'go pound sand' I'll do what I see fit now that I'm not up for re-election, which I think is closer to the truth
Get some guns and some gold and wait for the fireworks
This is not the first time that I've seen these charts and others supporting them. I am a Republican Precinct Committeeman and I wrote the following resolution to be voted on by the local county party committee. After the supposedly conservative party chairman told the assembled members that she opposed it, it was defeated by a vote or two. I was stunned. I'd even brought and presented charts and facts similar to those I just posted.
Resolution to Reaffirm Traditional Republican ValuesWhat is a conservative Republican to do??Whereas, a Republican majority exists in the U.S. House of Representatives and the U.S. Senate and that a Republican President is seated in the White House and therefore it should be apparent that those Republicans, at this time, are significantly responsible for the legislation that is passed and signed into law.
Whereas, the Republican Party is traditionally the party of limited government, for reducing the size of government, and for fiscal responsibility.
Whereas, the Republican Party platform espouses these ideals of limited government and specifically states the special calling of the Republican Party, namely “to advance the founding principles of freedom and limited government.”
Whereas, President Ronald Reagan’s legacy includes his cutting of nondefense discretionary spending by around 13.5% in his first 3 years in office yet the current administration and the Republican-controlled Congress has increased nondefense discretionary spending by approximately 20% in the last 3 years.
Whereas, in the last two years the Federal Budget – presided over by the Republican-controlled Congress and our Republican President – has expanded by approximately 27%, the bulk of the expansion being discretionary spending, which is a faster rate of growth than any similar period since the Johnson Administration.
Whereas, the Republican-controlled Congress passed and the Republican President recently signed into law legislation providing for the largest expansion of a Federal entitlement program since the Johnson Administration.
Whereas, the latest Omnibus Spending Bill contained record levels of pork and unnecessary spending unbecoming of a Congress controlled by a political party who claims to be for limited government, less spending, and fiscal responsibility.
Whereas, the aforementioned demonstrated trends in expanding government, increasing spending, and tolerating pork in the budget are not consistent with traditional Republican principles.
Be it resolved that the Cochise County Republican Committee reaffirms their commitment to the traditional Republican principles of freedom, limited government, fiscal responsibility, and lower spending and affirms that the government that governs least, governs best.
Be it resolved that the Cochise County Republican Committee calls upon Republicans in the House of Representatives, and in the Senate, and upon President George W. Bush to remember these traditional Republican principles and to consistently uphold them when drafting, sponsoring, or voting upon legislation or when signing legislation into law.
Seems like just yesterday that the cap was raised above $6T. What's a few trillion dollars between old friends?
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