…and pretty soon, you’re talking about real money:
In a bold but risky year-end strategy, Democrats are preparing to raise the federal debt ceiling by as much as $1.8 trillion before New Year’s rather than have to face the issue again prior to the 2010 elections.
“We’ve incurred this debt. We have to pay our bills,” House Majority Leader Steny Hoyer told POLITICO Wednesday. And the Maryland Democrat confirmed that the anticipated increase could be as high as $1.8 trillion — nearly twice what had been assumed in last spring’s budget resolution for the 2010 fiscal year.
Republicans should attempt a filibuster – certainly, all Congressional Republicans must vote “no” on this, as a matter of principle. Make the Democrats, if we can, vote for increases on a month by month basis so that the people can ask the question: when will we balance the budget? Obama says he’ll cut the deficit in half by the end of this term – meaning, that we’ll “only” have $700 billion or so deficits, given the deficit for 2009. This is absurd – we must stop spending more than we take in.
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