The "Debt Limit" Bill S 365

Library of Congress. ^ | 8/1/11 | Congress

[ctdonath2]

AN ACT

To make a technical amendment to the Education Sciences Reform Act of 2002.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,

SECTION 1. TECHNICAL AMENDMENT TO EDUCATION SCIENCES REFORM ACT OF 2002.

Section 174(e)(1)(A) of the Education Sciences Reform Act of 2002 (20 U.S.C. 9564(e)(1)(A)) is amended by inserting `, subject to 1 extension of not more than 12 months, at the Secretary's discretion, for any contract in effect on, or entered into after, January 1, 2011' after `period'.

[ctdonath2]

NOT KIDDING. That's the complete body of the bill at hand.

The amendment causing the ruckus is here.

From what I can tell, the amendment authorizes $26T in new spending over 10 years.

[NamVet71MP]

The FUNDING part is some good reading. I especially like the SEC. 501. FEDERAL PELL GRANTS. section.

[ctdonath2]

‘‘(B) CONTINUING DISABILITY REVIEWS AND
25 REDETERMINATIONS.
...
11 ‘‘(I) for fiscal year 2012, $623,000,000
12 in additional new budget authority;
13 ‘‘(II) for fiscal year 2013,
14 $751,000,000 in additional new budget au
15 thority;
16 ‘‘(III) for fiscal year 2014,
17 $924,000,000 in additional new budget au
18 thority;
19 ‘‘(IV) for fiscal year 2015,
20 $1,123,000,000 in additional new budget
21 authority;
22 ‘‘(V) for fiscal year 2016,
23 $1,166,000,000 in additional new budget
24 authority;
‘‘(VI) for fiscal year 2017,
2 $1,309,000,000 in additional new budget
3 authority;
4 ‘‘(VII) for fiscal year 2018,
5 $1,309,000,000 in additional new budget
6 authority;
7 ‘‘(VIII) for fiscal year 2019,
8 $1,309,000,000 in additional new budget
9 authority;
10 ‘‘(IX) for fiscal year 2020,
11 $1,309,000,000 in additional new budget
12 authority; and
13 ‘‘(X) for fiscal year 2021,
14 $1,309,000,000 in additional new budget
15 authority.
...
‘‘(C) HEALTH CARE FRAUD AND ABUSE
10 CONTROL.
...
19 ‘‘(I) for fiscal year 2012, $270,000,000
20 in additional new budget authority;
21 ‘‘(II) for fiscal year 2013,
22 $299,000,000 in additional new budget au
23 thority;
1 ‘‘(III) for fiscal year 2014,
2 $329,000,000 in additional new budget au
3 thority;
4 ‘‘(IV) for fiscal year 2015,
5 $361,000,000 in additional new budget au
6 thority;
7 ‘‘(V) for fiscal year 2016, $395,000,000
8 in additional new budget authority;
9 ‘‘(VI) for fiscal year 2017,
10 $414,000,000 in additional new budget au
11 thority;
12 ‘‘(VII) for fiscal year 2018,
13 $434,000,000 in additional new budget au
14 thority;
15 ‘‘(VIII) for fiscal year 2019,
16 $454,000,000 in additional new budget au
17 thority;
18 ‘‘(IX) for fiscal year 2020,
19 $475,000,000 in additional new budget au
20 thority; and
21 ‘‘(X) for fiscal year 2021, $496,000,000
22 in additional new budget authority.
...
20 ‘‘(c) DISCRETIONARY SPENDING LIMIT.
...
22 ‘‘(1) with respect to fiscal year 2012—
23 ‘‘(A) for the security category,
24 $684,000,000,000 in new budget authority; and
1 ‘‘(B) for the nonsecurity category,
2 $359,000,000,000 in new budget authority;
3 ‘‘(2) with respect to fiscal year 2013—
4 ‘‘(A) for the security category,
5 $686,000,000,000 in new budget authority; and
6 ‘‘(B) for the nonsecurity category,
7 $361,000,000,000 in new budget authority;
8 ‘‘(3) with respect to fiscal year 2014, for the dis
9 cretionary category, $1,066,000,000,000 in new budg
10 et authority;
11 ‘‘(4) with respect to fiscal year 2015, for the dis
12 cretionary category, $1,086,000,000,000 in new budg
13 et authority;
14 ‘‘(5) with respect to fiscal year 2016, for the dis
15 cretionary category, $1,107,000,000,000 in new budg
16 et authority;
17 ‘‘(6) with respect to fiscal year 2017, for the dis
18 cretionary category, $1,131,000,000,000 in new budg
19 et authority;
20 ‘‘(7) with respect to fiscal year 2018, for the dis
21 cretionary category, $1,156,000,000,000 in new budg
22 et authority;
23 ‘‘(8) with respect to fiscal year 2019, for the dis
24 cretionary category, $1,182,000,000,000 in new budg
25 et authority;
1 ‘‘(9) with respect to fiscal year 2020, for the dis
2 cretionary category, $1,208,000,000,000 in new budg
3 et authority; and
4 ‘‘(10) with respect to fiscal year 2021, for the
5 discretionary category, $1,234,000,000,000 in new
6 budget authority;

[ctdonath2]

That’s $26T in new spending.

...wait, what?

[ctdonath2]

Uh...yeah. Remind me why NATIONAL DEBT LIMIT legislation includes, to the exclusion of pretty much everything else, details about Pell Grants?

[Myrddin]

Is anybody really surprised? The House handed the Senate a credit card with a higher limit. It is incumbent on them to spend it as quickly as possible. Spend that puppy to the limit! Warm up the printing presses to "repay". Who needs Charmin? A handful of dollar bills will be less valuable than toilet paper in short order.

[library user]

That’s $26T in new spending. ...wait, what?

Good catch. Good grief. No wonder we are so f*cked.

[freekitty]

Hey, they have to keep their private slush funds going.

[ctdonath2]

"But honey, this dress was on sale!" does not make for robust fiscal policy.
Neither does "but the $26T in new spending is less than what we might have spent!"

[NamVet71MP]

The Pell Grant section is a perfect example of the great job Republicans are doing for us.

Democrats added; (1) in subclause (II), by striking `$3,183,000,000' and inserting `$13,183,000,000';

Republican added; (2) in subclause (III), by striking `$0' and inserting `$7,000,000,000'.

See? The Republican change saved us $13B - $7B = $6B!!!

Just a joke... I don't know which of our Washington Overlords add this little $17B tweak.

[Red Badger]

Would somebody please tell me how ‘we’ won?......................

[CodeToad]

The following table shows the INCREASED SPENDING authorized by the bill. We are talking trillions upon trillions here.

In $ Trillions	2012	2013	2014	2015	2016	2017	2018	2019	2020	2021
Total	$1,936	$2,107	$2,319	$2,570	$2,668	$2,854	$2,899	$2,945	$2,992	$3,039
Social Security	$623	$751	$924	$1,123	$1,166	$1,309	$1,309	$1,309	$1,309	$1,309
Health and Human Services	$270	$299	$329	$361	$395	$414	$434	$454	$475	$496
Discretionary Spending	$1,043	$1,057	$1,066	$1,086	$1,107	$1,131	$1,156	$1,182	$1,208	$1,234

[NamVet71MP]

Because... The truth is that men are tired of liberty. -- Benito Mussolini

[ctdonath2]

We didn’t. We didn’t just lose this, we lost the Republican party - seeing as all they did was hand over what the Democrats wanted, with increased spending, unilateral POTUS debt limit increases, and a little kabuki theater over a “balanced budget amendment”.

[RowdyFFC]

Is that that amendment to the bill they passed without any debate whatsoever while we were standing there flat-footed waiting on the Debt Debacle vote?

[ctdonath2]

That $1.9T increase in spending for 2012...is that before or after the $0.022T “cut” the Republicans got us? (*cough*wheeze*cough*)

[Red Badger]

Yeah, well we know what happened to him and his gal, don’t we?...............

[Red Badger]

The Republic has fallen........................

[bbernard]

“Health and Human Services $270 $299 $329 $361 $395 $414 $434 $454 $475 $496 “

So much for repealing Obamacare......

[CodeToad]

“(*cough*wheeze*cough*)”

*BREATH, MAN, BREATH*

I know it’s hard to choke down but you must! It’s for the Party!

If it weren’t for the Tea Party the Republican RINOs would have slide this and much more under the rug quietly in the night.