The State of the Union speech by Obama again was all smoke and mirrors. Yesterday the senate raised the debt ceiling by 1.9 trillion dollars on a strict party line vote. They were in a big hurry to do this before they seated Massachusett's senator Scott Brown, with him seated the Republicans could have forced serious budget cuts to go with the increase. Instead all the Dems voted for it and again Republicans in total voted against it. Senate raises debt ceiling $1.9 trillion | Deseret News WASHINGTON — The Senate voted 60-39 Thursday to allow the government to go a whopping $1.9 trillion deeper in debt, offering a vivid election-year reminder that the government has to borrow 40 cents of every dollar it spends. The measure would put the government on track for a national debt of $14.3 trillion — more than $45,000 for every man, woman and child in the United States. And the debt is increasingly held by foreign nations such as China. The budget for the current year is about $3.5 trillion and the deficit will probably match last year's $1.4 trillion. The government would have to borrow to cover that $1.4 trillion.
Every man, woman and child in this country now owes $45,000 on the national debt, get ready to write out your check for this. Higher taxes and inflation are right around the corner.
I'd like to know why the interim senator appointed for Massachusetts is still being allowed to vote. His term legally ended Tuesday so I wonder is passing this legislation with his vote is binding.
Not at all. The taxes we pay are for current programs, not programs that have left debt. In other words, our taxes pay the minimum balance on the government credit card. The government has never asked us to give them the full balance. -TSO
If I write that check, or take on that debt personally, for my family, will they completely fuckoff and leave me alone? I'd seriously consider that if they would.
