That debt ceiling deal Republicans sold us on a few months back is going from bad to worse. We were told the country would go into default and the nation’s credit rating would suffer if the federal debt ceiling was not raised. Well, most congressional Republicans went along with BarryO’s scheme, in exchange for the promise of significant budget cuts. (The debt ceiling got raised, and the U.S. still got its credit rating downgraded.) The shysters on Capitol Hill told us they would put a commission together to hammer out binding budget cuts. SURPRISE! We got $2 trillion more in debt, and NO spending cuts.
Now, BarryO’s minions are asking for another debt ceiling increase:
The White House plans to ask Congress by the end of the week for an increase in the government’s debt ceiling to allow the United States to pay its bills on time, according to a senior Treasury Department official on Tuesday.
The approval is expected to go through without a challenge, given that Congress is in recess until later in January and the request is in line with an agreement to keep the U.S. government funded into 2013.
The debt is projected to fall within $100 billion of the current cap by December 30, when the United States has $82 billion in interest on its debt and payments such as Social Security coming due. President Barack Obama is expected to ask for authority to increase the borrowing limit by $1.2 trillion, part of the spending authority that was negotiated between Congress and the White House this summer.
Under the agreement struck in August during the showdown over the government’s debt limit, the cap is automatically raised unless Congress votes to block the debt-ceiling extension. Lawmakers have 15 days within receiving the request to vote, which is largely symbolic because the president can veto it and Congress would be unlikely to muster the two-thirds majority to override it. Moreover, the U.S. House of Representatives also is in recess until January 17.
The deal called for raising the debt ceiling by $2.1 trillion to serve the nation’s borrowing needs into 2013 and also included mandatory cuts to the federal budget deficit. Since then, the extension has been increased twice by a total of $900 billion.
The debt limit currently stands at $15.194 trillion and would increase to $16.394 trillion with the request.
These people are fiddling while Rome burns. They care more about their personal “legacies” and reelections than the future of the country. This is all the proof we need that elections have consequences. If you keep voting for people promising to spend more of your money, you are voting to finish destroying the economic future of our children, grandchildren and nation. (If you’re mad about $24,000 to Southern Software, you should be ballistic over THIS.)
Republicans go along with stuff like this because they think we’ll do little more than holler a bit, then fall right into line at election time. Where else do conservatives have to go?
EVERY SINGLE ONE OF THE CONGRESSIONAL COCKROACHES NEEDS TO BE PRIMARIED. We didn’t do enough in 2010. Fumigate DC in 2012.