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.
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.
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