Posted on 01/13/2012 3:44:33 AM PST by tobyhill
President Obama is kicking off 2012 with an uncomfortable but inevitable request -- for Congress to permit another $1.2 trillion increase in the debt ceiling.
With the U.S. debt at about $15.2 trillion, it is now estimated to be larger than America's entire economic output. The proposed increase would boost the debt ceiling to $16.4 trillion, which should be enough to allow the government to keep borrowing until the end of 2012, or just after the presidential election.
(Excerpt) Read more at foxnews.com ...
So, Obama is adding over a trillion dollars to our debt every 4 months or so now? This is sheer insanity and a hard rain is gonna fall.
Maybe they will be calling this QE3 before long.
President Obama is kicking off 2012 with an uncomfortable but inevitable request — for Congress to permit another $1.2 trillion increase in the debt ceiling.
If congress allows itself to be snookered again...
Someone has to find the balls to cut off the drug supply to this addict!
WTF has happened to everyone...how can anyone imagine this could all end well!?
You see how much effect that spending is having on the unemployment rate-zero!
Why not? They abrogated responsibility long ago. And they’ll let him blame it on Bush.
Make it stop - please, somebody, MAKE IT STOP!!!
My gosh, when is this insanity going to end?
I know how to stop it. But they don’t let you discuss things like that here.
This one is on Congress and our Republican majority there.
I think you’re low.
Why does Hussein need to buy votes? Seems as if so-called conservatives are doing all his campaigning for him.
Scrawled in lipstick on the mirror in the West Wing of the White House: “Please catch me before I spend more!”
Where does Obama get the authority to keep spending at the level that creates these deficits? Bingo! We are operating on continuing resolutions based on the enormous FY 10 Budget. The Senate has deliberately failed to even vote on a budget since then (except for the joke that Obama sent up with even more spending - which even the Democrats in the Senate could not stomach). By using the CRA the Dems get to keep slushing it out to their constituencies as they force the Republicans to go along by creating crisis's over extensions of the CRA and debt ceilings, and, of course, the Republicans are blind to what is going on and lack the political will to do anything about it.
Why not?
Lots of reasons, it will be interesting who they want to blame this time if the threat not to extend is made.
Supposedly nothing matters anymore because this is the year of the triple whammy. End of the Bush tax cuts, the beginning of Obama care tax hikes, and there is another leg to the stool I can’t remember that spells further disaster for the economy. Huh, it can be more disastrous than it is?
The fact that we are here today to debate raising America’s debt limit is a sign of leadership failure. It is a sign that the U.S. Government can’t pay its own bills. It is a sign that we now depend on ongoing financial assistance from foreign countries to finance our Government’s reckless fiscal policies. … Increasing America’s debt weakens us domestically and internationally. Leadership means that “the buck stops here.” Instead, Washington is shifting the burden of bad choices today onto the backs of our children and grandchildren. America has a debt problem and a failure of leadership. Americans deserve better.
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