Posted on 02/04/2010 2:47:16 PM PST by NormsRevenge
WASHINGTON – The House on Thursday voted to allow the government to go $1.9 trillion deeper in debt — an increase of about $6,000 more for every U.S. resident that provided a vivid election-year reminder of the nation's perilous financial condition.
The huge debt increase, approved 217-212, is only enough to keep the government afloat for about another year as it borrows more than 40 cents of every dollar it spends on programs like defense, health care, feeding the poor and protecting the environment. The budget tops $3.7 trillion this year and the deficit's approaching $1.6 trillion under the budget submitted by President Barack Obama this week.
The huge increase — to $14.3 trillion — in the cap on federal borrowing was designed by Democratic leaders to ensure that the rank and file won't have to vote again to run up another increase before facing voters increasingly angry over government spending and debt in the November midterm elections.
Already, the accumulated debt amounts to roughly $40,000 per person.
(Excerpt) Read more at news.yahoo.com ...
Thank You DemocRats and Mr. Obama.
As soon as you pop out of the womb ..
Bam. $46K in the hole.
217-212
quite a few Dems said
No.
Sweet!
if the dems wanted to save themselves then they would have not done this and not funded the government causing a reversal of many things.
designed by Democratic leaders to ensure that the rank and file won’t have to vote again to run up another increase before facing voters in November..
The design is fatally flawed.. the Dems will be flambeed In November ‘10 and ‘12 as well at this rate.
thats half the budget!
what’s the deficit on the proposed budget? 1.56 trillion or so..
that leaves .34 trillion as a potential slush fund or political cover and refuge account
That damn HUAC (House UnAmerican Activities Cabal) again.
If you had gone into business on the day Jesus was born, and your business lost a million dollars a day, day in and day out, 365 days a year, it would have taken you until October 2737 to lose a trillion dollars.
Thanks NormsRevenge.
Of course they were given cover why would they all vote for it less chance of getting relected. Cmon you have to know this...
Osama/Obama - Muslims with exactly the same goal - economic destruction of the United States.
Unfunded ‘mandates’ total out at near 100 trillion dollars.
We need to buy some really good Chinese printing presses.
No, the budget assumes cap n trade taxes and other things that probably won’t happen. The deficit is going to be BIGGER than they proposed, and I think they know it.
The debt was not intended to be paid back anyway, but to be consumed like alcohol.
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