Sens:Won't Vote To Lift Debt Ceiling Without Action On Spending

Nasdaq ^ | 11/13/09 | Corey Boles

[TigerLikesRooster]

Sens:Won't Vote To Lift Debt Ceiling Without Action On Spending

By Corey Boles, Of DOW JONES NEWSWIRES

WASHINGTON -(Dow Jones)- Two Democratic senators said Tuesday they wouldn't vote to support an increase in the nation's debt ceiling without corresponding action to address the country's long term fiscal imbalances.

Sens. Dianne Feinstein (D., Calif.) and Evan Bayh (D., Ind.) told a hearing of the Senate Budget Committee they would vote against a needed increase in the limit the federal government can borrow unless Congress creates a commission to come up with proposals to bring the deficit and debt under control.

The federal government's debt is fast approaching its legally binding ceiling of $12.1 trillion. Treasury officials have warned that Congress will have to increase that limit likely by mid-December.

[TigerLikesRooster]

Well, call me cynical. However, this sounds like a political cover they try to hide behind. After making some noise, they will raise the debt ceiling without little spending cut.

I am guessing here, but they may spend more time to fight over which states to get larger slice of federal aid money to prevent their default.

[TigerLikesRooster]

Ping!

[Daisyjane69]

“Sens. Dianne Feinstein (D., Calif.) and Evan Bayh (D., Ind.) told a hearing of the Senate Budget Committee they would vote against a needed increase in the limit the federal government can borrow unless Congress creates a commission to come up with proposals to bring the deficit and debt under control.”

Well geez...how about not enacting another entitlement, for starters, gang???

[crescen7]

Sens. Dianne Feinstein (D., Calif.) and Evan Bayh (D., Ind.) told a hearing of the Senate Budget Committee they would vote against a needed increase in the limit the federal government can borrow unless Congress creates a commission to come up with proposals to bring the deficit and debt under control.

an obvious prelude to:

Sens. Dianne Feinstein (D., Calif.) and Evan Bayh (D., Ind.) told a hearing of the Senate Budget Committee they would vote for a needed increase in the limit the federal government after amending the bill to include spending on projects in California and Indiana.

[GodBlessRonaldReagan]

Congress creates a commission to come up with proposals to bring the deficit and debt under control

BOHICA - tax increases on the way.

[HarleyD]

Here they’re trying to pass one of the largest entitlement programs in history and they want a “commission” to study the debt? This is rather obvious political coverage. It’s like that Pay-N-Go. What happened to that?

[MrDem]

call me cynical.

And you are. They should propose to have a blue-ribbon panel study the problem and then propose to have a blue-ribbon panel study the results of the first panel's suggestions and then propose to have a blue-ribbon panel study the second panel's suggested solutions and then propose to have a blue-ribbon panel study the third panel's overview of the first two panels... Are we all dead yet?

[stevem]

unless Congress creates a commission to come up with proposals to bring the deficit and debt under control.

This might be worth a comment if we could stop laughing long enough to make it. Do Feinstein and Bayh moonlight as stand up comics?

[Caipirabob]

My guess would be that if this is the case, we’re past the point of no return and have reached the phase of imminent collapse. This is just some of the rats leaping from the ship in a pathetic attempt to avoid some of the blame.

[Diana in Wisconsin]

You need to throw a few unaccountable ‘Czar’ positions in the mix there and then you’ll be spot on! ;)

[Gritty]

Well, it looks like this leaves only two (2) alternatives for our Liberal rulers in D.C.:

1) get out of Afghanistan and Iraq
2) raise taxes
... or a combination of both.

Did I miss any thing else we can do to save money and keep that nasty old deficit down to something reasonable, under $12,100,000,000,000? /s/

[TigerLikesRooster]

Your suggestion is certainly a likely scenario.

[GraceG]

HAH!

[CPT Clay]

Any body heard anything on this today?

[Diana in Wisconsin]

Debate begins today:

http://online.wsj.com/article/SB10001424052748704423204575017481223109688.html?mod=googlenews_wsj

[Diana in Wisconsin]

P.S. They don’t know what the Ef they’re doing. ANY of them. Grrrrrr!