What's a Trillion Among Friends?

[acesfull86]

link (http://thehill.com/blogs/on-the-money/budget/327363-reid-wants-1t-debt-hike-to-end-of-2014)

Senate Majority Leader Harry Reid (D-Nev.) is moving legislation to push the debt limit until Dec. 31, 2014, well beyond next year’s midterm election.

Senate aides estimate the bill would increase federal borrowing authority by about $1.1 trillion.

The administration estimates the nation would hit the upper bounds of its $16.7 trillion debt ceiling on Oct. 17, although in recent days, experts have said that deadline might be flexible.

Senate Republican Leader Mitch McConnell (Ky.) blasted Reid’s proposal for not including any spending reform.

“What he proposes is to raise the debt limit by $1 trillion but not do anything about the debt,” McConnell said. “Not a single reform to get spending under control. We’ve got a debt close to $17 trillion.

“Washington is borrowing nearly $2 billion — a day. And he’s fine with that,” he added.

In 2011, President Obama insisted the debt limit be pushed until after the 2012 election so that he would not have to deal with it again before Election Day.

Now it is Senate Democrats who don’t want to face double jeopardy before voters decide whether they get to keep their majority.

[acesfull86]

BTW, what ever happened to this guy?

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. Over the past 5 years, our federal debt has increased by $3.5 trillion to $8.6 trillion. That is ‘‘trillion’’ with a ‘‘T.’’ That is money that we have borrowed from the Social Security trust fund, borrowed from China and Japan, borrowed from American taxpayers. And over the next 5 years, between now and 2011, the President’s budget will increase the debt by almost another $3.5 trillion.

Increasing America’s debt weakens us domestically and internationally. Leadership means that ‘‘the buck stops here.’’ Instead, Washington is shifting the burden of bad choices today onto the backs of our children and grandchildren. America has a debt problem and a failure of leadership. Americans deserve better.

I therefore intend to oppose the effort to increase America’s debt limit.

[Tapate50]

That's a real gut punch.

[goldfly]

i find it crazy that we are bitching again about paying bills for money we already spent with this

[cajunrevenge]

If your in congress and you cant balance the budget then resign and let someone else do it. Its not a matter of it being impossible, its a matter of not wanting to make hard choices. I dont recall anywhere in the constitution that said the government is responsible for peoples bad life choices. Dropped out of high school and cant get a job anywhere but McDonalds and you have 3 kids, thats not Uncle Sam's responsibility. We are getting dumber as a society because we are interfering with natural selection. Instead of stupid people dying off they are breeding at higher levels than smart people and the government is subsidizing their contamination of the gene pool. Stupid people are holding the rest of the country hostage because we as a people cant bear the thought of children suffering. This is a relatively new thing. In 1850 the US government didnt give a **** about peoples children. If you had 20 kids and couldnt afford to feed them and some died of starvation the US government didnt give a ****. I am not anti 100% of the social safety net but the way I see if if you need to suck off the government teet then while you do so you should give up certain freedoms to ensure you are not furthering your dependence on other people.

[acesfull86]

i find it crazy that we are bitching again about paying bills for money we already spent with this

I agree with Sen Obama that we have a leadership problem.

[weso1]

i find it crazy that we are bitching again about paying bills for money we already spent with this

That's the admin talking point and you're doing a good job repeating it. Truth be told Obama wouldn't let the US default even if the debt ceiling isn't raised.

In the end they'll raise the debt ceiling at the deadline or not soon after the deadline. They'll reach a deal like they always do. Just like last time when everyone was groaning and gnashing their teeth and shockingly a last minute deal was reached.

[Tapate50]

Hey, at least we stopped sending Egypt their prop money. For the time being at least.