Our $8 trillion headache

[UpInArms]

http://www.cincypost.com/2004/06/25/edita062504.html

That the national debt limit needs to be raised because we are borrowing so much money is no great secret, but Republicans in Congress want to raise that limit with as little public notice as possible.

That would rule out a freestanding vote because that would highlight the record deficits the Republicans have run up over the last three years.

The Democrats, retroactive converts to the cause of balanced budgets, would point out that, after taking office with the publicly held share of the national debt declining thanks to four years of surpluses, the Bush administration has had to twice ask that the borrowing cap be lifted, for a total of $1.4 trillion.

Now it needs a third of about $690 billion -- and soon. That would take the gross national debt to more than $8 trillion, an impressive number.

The leadership had hoped to slip the increase through as part of a congressional budget resolution, but for the second year in a row, House and Senate Republicans might not be able to agree on a budget.

...more...



The estimated population of the United States is 294,399,292
so each citizen's share of this debt is $24,538.70.

The National Debt has continued to increase an average of $1.64 billion per day since September 30, 2003

[teryang]

1. Gross corruption

Apres moi le deluge.

[Skittles]

2. the party of "fiscal responsibility"

:puke:

[cornfedyank]

3. that's only the acknowledged national debt.

If the gov used generally accepted accounting practices and had to acknowledge known future obligations, I think the number is twice that.

[The Zanti Regent]

4. But Jesus is comimg next week to rapture the Nazis!

Incredible how many fools actually believe the crap that Jesus is going to rapture them in a week or 2. I've got idiots in my office who swallow that bullshit and of course they are Nazis. They don't care how much damage they do, becuase Jesus is coming to rapture them!

[Deja Q]

5. Sorry, I don't owe $25k to the government. None of us does.

The politicians and corporate bribers who put us in this shithole owe all of it.

I have my own debts to pay, thank you anyway.