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Dems seek cover to boost debt limit

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Filed: Timeline

The Senate must soon increase the national debt limit to above $13 trillion — and Democrats are looking for political cover.

Knowing they will face unyielding GOP attacks for voting to increase the eye-popping debt, Democrats are considering attaching a debt increase provision to a must-pass bill, possibly the Defense Department spending bill, according to Democratic and Republican sources.

Adding it to the defense bill would allow Democrats to argue that they voted for the measure to help troops in harm’s way — and downplay that their vote also expanded the limit for how much money the country can borrow.

The strategy has not yet been finalized, aides and senators said. The House already approved a debt limit increase of $925 billion — above the $12.1 trillion ceiling Congress approved as part of the economic stimulus package last February — but Democrats may seek to increase the limit further so they don’t have to revisit the politically treacherous issue until after the 2010 midterm elections.

As of Tuesday, the debt stood at $11.95 trillion, staring at senators amid a roiling health care debate in which critics have seized on the potential costs of the overhaul. Unlike those of the House, the Senate’s rules do not allow it to automatically increase the debt with its adoption of the annual budget resolution. That puts senators in a tough position politically. And if the Senate balks at the increase, Treasury Secretary Timothy Geithner has warned that the slow economic recovery could collapse, as investors around the world would sharply lose confidence in America’s abilities to meet its credit obligations.

“This president inherited, in some ways, an economic fiasco,” said conservative Democratic Sen. Mary Landrieu of Louisiana. “It’s not going to be a pleasant vote, but it may be necessary until we can get back on track.”

Indeed, Democrats are quick to point out that President George W. Bush left President Barack Obama with a $10.6 trillion debt — and that the debt limit was increased seven times in the Republican’s eight years in the White House. But now Democrats are in charge of Congress and the White House; and the Treasury Department reported last week that the annual deficit for the fiscal year that ended Sept. 30 stood at a record $1.4 trillion, with that number likely to balloon under Obama’s policies.

http://www.politico.com/news/stories/1009/28586.html

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"The fact that we are here today to debate raising America’s debt limit is a sign of leadership failure. It is a sign that the U.S. Government can’t pay its own bills. It is a sign that we now depend on ongoing financial assistance from foreign countries to finance our Government’s reckless fiscal policies."

Senator Barack Obama
Senate Floor Speech on Public Debt
March 16, 2006



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i guess my bush money is no good

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Peace to All creatures great and small............................................

But when we turn to the Hebrew literature, we do not find such jokes about the donkey. Rather the animal is known for its strength and its loyalty to its master (Genesis 49:14; Numbers 22:30).

Peppi_drinking_beer.jpg

my burro, bosco ..enjoying a beer in almaty

http://www.visajourney.com/forums/index.ph...st&id=10835

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Filed: Country: Belarus
Timeline
i guess my bush money is no good

Bush%20Dollars.1-1.jpg

wealthynotefront.jpg

dollars_bush_hussein_bin_laden.jpg

Here's my all time favorite Bush bucks:

BushPeso.jpg


"Credibility in immigration policy can be summed up in one sentence: Those who should get in, get in; those who should be kept out, are kept out; and those who should not be here will be required to leave."

"...for the system to be credible, people actually have to be deported at the end of the process."

US Congresswoman Barbara Jordan (D-TX)

Testimony to the House Immigration Subcommittee, February 24, 1995

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