Reply #10: Good morning all [View All]

[burf]

Yesterday we talked about the debt ceiling being raised. Well, it's a done deal.

U.S. Congress agrees to raise U.S. credit limit
http://today.reuters.com/news/articleinvesting.aspx?type=bondsNews&storyID=2007-09-28T031501Z_01_N27415556_RTRIDST_0_USA-CONGRESS-DEBT-UPDATE-2.XML

WASHINGTON, Sept 27 (Reuters) - With the U.S. government fast approaching its current $8.965 trillion credit limit, the Senate on Thursday gave final congressional approval of an $850 billion increase in U.S. borrowing authority.

The Senate voted 53-42 to raise the debt ceiling to $9.815 trillion, the fifth increase in the U.S. credit limit since President George W. Bush took office in January 2001. The U.S. House of Representatives approved the higher debt limit earlier this year as part of the overall budget resolution and the legislation now goes to Bush for his signature.

My guess is Bush will give us a line about how fiscally responsible he and his cronies have been during his tenure. Also, the chocolate ration has been increased from 4 grams to 3 to celebrate this tremendous accomplishment.