Congress raises limit again as U.S. debt nears $10 trillion

[babylonsister]

Congress raises limit again as U.S. debt nears $10 trillion
By Rob Hotakainen | McClatchy Newspapers

* Posted on Monday, October 1, 2007



WASHINGTON — As the national debt heads for the $10 trillion mark, generous Americans are sending checks to the federal government.

Donations to the Bureau of the Public Debt have topped $2.5 million so far this year. That’s the highest amount since at least 1996.

It’s not making much of a dent, though.

For the fifth time since 2001, Congress is raising the debt limit, increasing it by $850 billion to $9.815 trillion. The Senate approved the plan on a 53-42 vote Thursday night. The House of Representatives has already signed off on the plan, without a direct vote.

That’s $9,815,000,000,000.00.

According to the folks who follow this stuff closely, the national debt has been rising by an average of $1.36 billion per day since September of last year.

And each citizen now has a share of nearly $30,000.

But Congress has an easy solution to deal with the mounting red ink. Instead of fretting over it, members simply allow the government to borrow more money, much to the consternation of some critics.

more...

http://www.mcclatchydc.com/226/story/20068.html

[fasttense]

1. All our tax dollars going to the haves and have mores.

By running up the government debt, bush has manged not only to steal the nation's current wealth for his cronies, but our future national wealth is all set up to continue to go to his base through the staggering debt he has run up and this country must pay. And the congress lets him do it.

[Spurt]

2. Good morning Nancy..

"Good morning. This is Nancy Pelosi of California, Democratic Leader of the House of Representatives.

This week, Democrats proposed a New Direction for America - new priorities that will build a stronger country for all Americans.

snip

Our New Direction for America means turning away from the irresponsible deficit spending by President Bush and the Republican Congress that has added $3 trillion in new debt. We will restore the proven budget discipline that eliminated deficits and generated record economic growth.

Snip"

If new debt was so bad a little over a year ago, how come it is OK now?
Looks like Nancy broke her word to the people - again.

http://www.democrats.org/a/2006/06/house_democrati_2.php

[babylonsister]

4. Don't bother. She's not listening. nt

[Solly Mack]

3. soon..we'll all be hearing how we need to sacrifice and tighten our belts

which will be code for...social services are about to be hit really hard (I know, even more so) and the states only think they're suffering now...programs must be cut! they are hurting our economy! hard choices must be made!(and how much to pay for Bush's lies again?)

and the same people who are already doing the sacrificing will be sacrificed