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Sen. Mark Pryor said Wednesday he won't vote to raise the federal government's borrowing limit unless there's a commitment to address the nation's debt by cutting spending and overhauling the tax code. The Democrat from Arkansas told members of the Political Animals Club that he was hopeful a bipartisan group of senators could come up with a plan within the next two weeks to reduce the debt based on recommendations issued by a presidential commission last year. The debt will hit its ceiling of $14.3 trillion by mid-May, and administration officials say the cap must be raised by no later than early July.
So, then...Pryor is a Conservative Democrat [Blue Dog]. Unfortunately, they are the reason the Democratic Congress didn't get as much accomplished as some of us hoped.
Pryor is a Conservative Democrat [Blue Dog]. Unfortunately, they are the reason the Democratic Congress didn't get as much accomplished as some of us hoped.
Debt ceiling is going to get raised. Some legislators in conservative districts will need political cover so they will vote no. However this will get done.
Debt ceiling is going to get raised. Some legislators in conservative districts will need political cover so they will vote no. However this will get done.
Of course in the end it has to get done, but the Republicans should damn Sure try and Get as much Spending reduction as possible out of them in a deal. We are on a clear path to losing our Triple A rating. To those who do not think that is a big deal, check out how the Economies of other countries that had it and lost it are fairing. Realize that only like 5 Countries have ever lost their AAA Rating and then went on to regain it.
While Default would be bad for our Rating, So is Raising the Debt Limit once again. The Only way to Avoid losing the Rating, is to show RIGHT NOW that we are indeed getting serious about Deficit Reduction. If we just raise this limit and do nothing about Spending. I wager we lose the AAA rating before we get to the New Limit we set.
As set in a law passed by Congress and signed by President Barack Obama on Feb. 12, 2010, the legal limit on the national debt is $14.2940 trillion. As of the close of business Tuesday, according to the Daily Treasury Statement released at 4:00 pm today, the portion of the national debt subject to this legal limit was $14.268365 trillion. (The total national debt, including the portion exempted from the legal limit, was $14.3205 trillion.) This left the U.S. Treasury with the authority to borrow only an additional $25.635 billion before it hits the statutory debt limit.
On April 4, Treasury Secretary Timothy Geithner sent a letter to Senate Majority Leader Harry Reid (D.-Nev.) in order to warn Congress that the Treasury was approaching the legal debt limit. In an appendix to this letter, Geithner pointed to the rapid pace at which new debt was accumulating. On average, Geithner wrote, the public debt of the United States increases by approximately $125 billion per month (although there are significant variations from month to month).
In a 31-day month, $125 billion in new debt works out to an average of $4.03 billion in new debt per day. At that pace, the $25.635 billion in legal borrowing authority the Treasury had left at the close of business on Tuesday would be exhausted in less than seven days. Geithners letter did not spell out the time period he used to determine that the debt increases at approximately $125 billion per month. In fact, according to the official debt figures published by the Treasury itself, the debt has been increasing at a somewhat faster pace than $125 billion per month during the Obama presidency.
On Jan. 20, 2009, the day Obama was inaugurated, the portion of the nation debt subject to the legal limit (a small portion of the debt is exempted from the limit) was $10.568142 trillion. By April 19, 2011, the portion of the national debt subject to the limit had increased to 14.268365 trillion. That means that during the first 821 days of Obamas presidency the debt increased by $3.700223 trillionor $4.5 billion per day. The actual average monthly increase in the debt during Obamas presidency has been $139.5 billion.
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Granny says look for the Chinese to start foreclosure proceedings onna White House...
Federal Borrowing on Pace to Hit Debt Limit in Less Than Week
Wednesday, April 20, 2011 - Federal borrowing is on pace to hit the legal limit on the national debt in less than a week.
As set in a law passed by Congress and signed by President Barack Obama on Feb. 12, 2010, the legal limit on the national debt is $14.2940 trillion. As of the close of business Tuesday, according to the Daily Treasury Statement released at 4:00 pm today, the portion of the national debt subject to this legal limit was $14.268365 trillion. (The total national debt, including the portion exempted from the legal limit, was $14.3205 trillion.) This left the U.S. Treasury with the authority to borrow only an additional $25.635 billion before it hits the statutory debt limit.
On April 4, Treasury Secretary Timothy Geithner sent a letter to Senate Majority Leader Harry Reid (D.-Nev.) in order to warn Congress that the Treasury was approaching the legal debt limit. In an appendix to this letter, Geithner pointed to the rapid pace at which new debt was accumulating. On average, Geithner wrote, the public debt of the United States increases by approximately $125 billion per month (although there are significant variations from month to month).
In a 31-day month, $125 billion in new debt works out to an average of $4.03 billion in new debt per day. At that pace, the $25.635 billion in legal borrowing authority the Treasury had left at the close of business on Tuesday would be exhausted in less than seven days. Geithners letter did not spell out the time period he used to determine that the debt increases at approximately $125 billion per month. In fact, according to the official debt figures published by the Treasury itself, the debt has been increasing at a somewhat faster pace than $125 billion per month during the Obama presidency.
On Jan. 20, 2009, the day Obama was inaugurated, the portion of the nation debt subject to the legal limit (a small portion of the debt is exempted from the limit) was $10.568142 trillion. By April 19, 2011, the portion of the national debt subject to the limit had increased to 14.268365 trillion. That means that during the first 821 days of Obamas presidency the debt increased by $3.700223 trillionor $4.5 billion per day. The actual average monthly increase in the debt during Obamas presidency has been $139.5 billion.
MORE
So, then...Pryor is a Conservative Democrat [Blue Dog]. Unfortunately, they are the reason the Democratic Congress didn't get as much accomplished as some of us hoped.
You agree that labelling the GOP congressional minority as "obstructionist" and "the party of no" was just a bunch of partisan hooey.
Right?
And where were you in 2001?
So, then...Pryor is a Conservative Democrat [Blue Dog]. Unfortunately, they are the reason the Democratic Congress didn't get as much accomplished as some of us hoped.
You agree that labelling the GOP congressional minority as "obstructionist" and "the party of no" was just a bunch of partisan hooey.
Right?
So, then...Pryor is a Conservative Democrat [Blue Dog]. Unfortunately, they are the reason the Democratic Congress didn't get as much accomplished as some of us hoped.
You agree that labelling the GOP congressional minority as "obstructionist" and "the party of no" was just a bunch of partisan hooey.
Right?
No, that was the truth as well. The GnOP voted "no" to everything, even policies they once introduced or supported. They stated that they would from the onset. Their ONLY goal was to destroy this President in any matter possible. They stated as much.
They didn't give two shits about the country and what was best for it, they cared only about their political aspirations and in "getting" the President. Before every meeting, the GnOP leaders would make a statement about how it didn't matter what the President had to say, they were opposing whatever it was. The obstructionism in the recent GnOP is historic (you can look it up).
The Koch sucking GnOP's theme song:
[ame=http://www.youtube.com/watch?v=DtMV44yoXZ0]YouTube - I'm against it!.wmv[/ame]
If every single member of the GOP voted against a bill, and it failed to pass, why did it fail to pass?No, that was the truth as well. The GnOP voted "no" to everything, even policies they once introduced or supported.So, then...Pryor is a Conservative Democrat [Blue Dog]. Unfortunately, they are the reason the Democratic Congress didn't get as much accomplished as some of us hoped.
You agree that labelling the GOP congressional minority as "obstructionist" and "the party of no" was just a bunch of partisan hooey.
Right?
On the contrary... opposing The Obama's agenda is indeed what is best for the country.They didn't give two shits about the country and what was best for it...
