Posted on 05/09/2006 11:04:47 AM PDT by soccer_maniac
A $2.7 trillion budget plan pending before the House would raise the federal debt ceiling to nearly $10 trillion, less than two months after Congress last raised the federal government's borrowing limit.
The provision -- buried on page 121 of the 151-page budget blueprint -- serves as a backdrop to congressional action this week. House leaders hope to try once again to pass a budget plan for fiscal 2007, a month after a revolt by House Republican moderates and Appropriations Committee members forced leaders to pull the plan.
With passage of the budget, the House will have raised the federal borrowing limit by an additional $653 billion, to $9.62 trillion. It would be the fifth debt-ceiling increase in recent years, after boosts of $450 billion in 2002, a record $984 billion in 2003, $800 billion in 2004 and $653 billion in March. When Bush took office, the statutory borrowing limit stood at $5.95 trillion.
(Excerpt) Read more at washingtonpost.com ...
Put it on my bill......
If I could have a penny for every $100 the fed spends...
If Republicans could just get control of the House, Senate, and Presidency...
Oh wait.
Yet our dear friends in the Senate somehow continue to find billions for earmarks...
Remember to vote republican so this can't happen. LOL
/sarcasm
Some would say a vote for a third party is a vote for a democrat...Given recent experience I would say a vote for a republican is like a vote for a democrat !
And yet they say we're mad over immigration and the Iraq War? C'mon! It's the economy stupid!
i read somewhere that they justify this by the dollar trending lower. so ten dollars five years from now is worth fifteen today. therefore they are 'reducing' the amount owed by putting it off. /s
"...therefore they are 'reducing' the amount owed by putting it off. /s"
Good gosh, that sounds like something they'd say. I'm not sure the sarcasm tag fits.
BTW, I have read numerous times about how we should still vote for our republican candidates, because it's better than a rat. I'd like to say that if you reward bad behavior, you'll get more of the same. The only way to get their attention is to fire them. Vote 3rd party, vote rat, stay home, whatever works for you. But if you do what you always did, you'll get what you always got.
So how does this affect you personally?
Republicans: The new Democrats.
The gov't owns the money printing presses. The gov't could pay off the debt with little effort. Just print the money. Of course, inflation would likely rip the lid off the economy. I suppose that's one of the reasons the fed. reserve watches the inflation rate like a hawk.
Incredible.
good pic
What is Botswana's secret? No economy at all?
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