WASHINGTON, Sept 27 (Reuters) - With the U.S. government fast approaching its current $8.965 trillion credit limit, the Senate on Thursday gave final congressional approval of an $850 billion increase in U.S. borrowing authority.
The Senate voted 53-42 to raise the debt ceiling to $9.815 trillion, the fifth increase in the U.S. credit limit since President George W. Bush took office in January 2001. The U.S. House of Representatives approved the higher debt limit earlier this year as part of the overall budget resolution and the legislation now goes to Bush for his signature.
"We have no choice but to approve it. If we fail to raise the debt ceiling soon, the U.S. Treasury will default for the first time in its history," said Senate Finance Committee Chairman Max Baucus.
U.S. debt stood at about $5.6 trillion at the start of Bush's presidency.
And Conservatives talk about ECONOMIC STRENGTH under Bush?????????
2007-09-28 09:36:00 · 19 answers · asked by Dream Realized 2 in Politics & Government ➔ Politics
Every great empire has fallen. Unfortunately, it's our turn.
2007-09-28 09:46:53 · answer #1 · answered by Anonymous · 7⤊ 0⤋
The beneficiaries at the Federal Reserve Bank are very proud of GW. He has given them our gold and now our tax dollars can be like making minimum payment on a credit card. Most Democratic programs will become their vested pension as the debt will grow higher and faster yet. The answer is grim and the reality beyond imagination. We are a bankrupt nation only allowed to survive because its in the best interests of other global concerns. The day we lose that edge this country is finished.
2007-09-28 09:48:56 · answer #2 · answered by jkevinsimpson 3 · 2⤊ 0⤋
Yet, the government has problems raising the minimum wage, a wage that has never reflected the economy or it's continuous growth.
Yet lawmakers/politician/government can give themselves pay raises and I do mean pay raises that any person would love to receive!!
So this news comes as no surprise. Keep spending money on a lost war and don't worry about the outrageous prices for gas/fuel/food/taxes/interest rates/etc. because we know this current administration is only worried about taking care of themselves and their personal agendas.
Ahh, what the heck, raise the spending limit another trillion or two, after all, it's only the American ppls money!!<--[sarcasm]
2007-09-28 10:18:40 · answer #3 · answered by deiracefan_219 5 · 1⤊ 0⤋
They should have let the Treasury default before raising the debt limit again.
It would have resulted in a quick exit from Iraq and an immediate massive cut in pork barrel spending.
$4 trillion of debt in 6 years under Bush.....whoopie.
2/3rds of the national debt is directly attributable to the last 3 Republican Presidents (who refused to veto outlandish budgets).
2007-09-28 09:42:27 · answer #4 · answered by Anonymous · 5⤊ 0⤋
Wow. And there are Democrats voting for this. Hmmmm. Seems to me that they all feed out of the same bucket of slop. Economy 101 shows that the president, whether conservative or liberal, influences the economy almost nil. Also, economists seem to agree that the machinations that influence the current economy were in place about 10+ years prior. So, the bonehead moves being made now will probably mess with us in about 10 years. We can blame Bush, as big of an idiot as he is, or wake up and realize that we're being snowballed by the whole lot of them.
I'm going to go lie down now and take a nap.
2007-09-28 09:46:50 · answer #5 · answered by Matchin' Hatches 5 · 5⤊ 0⤋
President Clinton left Bush with a very healthy economy, When Bush decided to purse Saddam and went to war in Iraq our spending went our of sight. The Republicants (not a mis-spelling) refuse to put the skids on war spending. Bush has a bunker mentality and won't give in to any one or any thing. So there you are. 9 Trillions in debt and growing.
2007-09-28 09:48:12 · answer #6 · answered by NavyVet64 2 · 4⤊ 0⤋
The tone of your question means that just about all of Catholic priests are, what(?), pedophiles... in basic terms 6% of Catholic priests are pedophiles. Granted, it rather is 6% too many yet enable's be genuine. do no longer anticipate that a guy is shielded from serious sins whilst he's ordained a priests. priests are no longer above the regulation, they are nevertheless project to it like the rest human beings. priests are no much less in danger of temptation than the rest human beings. Being Ordained via God would not assure sinlessness. Sinlessness has no longer been an element of the human condition. some human beings sin extra suitable than others, and a few of people who sin extra suitable than others are priests. it rather is that straightforward.
2016-12-28 06:25:00 · answer #7 · answered by Anonymous · 0⤊ 0⤋
I thought according to lefties, the country had a HUGE SURPLUS at the end of the Clinton presidency. Now you're saying that the U.S. was $5.6 Trillion in debt. What did Pres. Clinton do with the surplus?
2007-09-28 10:14:35 · answer #8 · answered by madd texan 6 · 0⤊ 1⤋
If either party cuts spending the other party will kill them with rhetoric "they hate babies, they hate old people, they hate the environment, etc.". Therefore, both parties are to afraid to do the intelligent thing (cut spending), so both parties just keep spending out of control. The problem is the two-party system and the insane amount of partisan politics.
2007-09-28 09:46:54 · answer #9 · answered by Aegis of Freedom 7 · 3⤊ 0⤋
I think with the current population of the USA that's about $30,000.00 for every man woman and child and going up every day........ I cant afford a debt like that
2007-09-28 10:05:10 · answer #10 · answered by Anonymous · 0⤊ 0⤋
Cheney said the National Debt doesn't make any difference.
Don't ya believe him???
2007-09-28 10:03:54 · answer #11 · answered by Anonymous · 2⤊ 0⤋