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While no body was paying attention, the debt ceiling just went up $500 billion.  And what was Obama's new Jobs plan worth?  $447 billion? Now you know how it's really paid for.

Senate Approves $500 Billion Increase in Borrowing Authority

 

The U.S. Senate, in an unusual procedure, cleared the way Thursday for the U.S. to lift its borrowing authority by $500 billion to $15.19 trillion, enough to keep the support federal government borrowing through late January or early February.

The action came under an unusual legislative procedure spelled out under the August agreement to raise the U.S. debt ceiling and avoid a U.S. credit default. In a 52-45 vote, the Senate blocked an attempt by Republicans to slow down the process that will result in the $500 billion debt-ceiling increase.

The increase stems from a deal between Congress and the White House, finalized last month, that spells out how the borrowing limit would be increased by $500 billion. Under the process, lawmakers in both the House and Senate must vote on a resolution of disapproval against the increase in the borrowing limit. President Barack Obama would then have to veto the resolution of disapproval, and Congress would then vote to try and override that veto.

The complicated procedure, designed by Senate Minority Leader Mitch McConnell (R., Ky.), would allow an increase of the borrowing limit while allowing most Republicans to vote against such an increase.

There was a twist in this scenario Thursday evening, however. Democrats held firm, rejecting the resolution of disapproval, thereby speeding the process and increasing the borrowing limit immediately.

Only Sen. Ben Nelson (D., Neb.) broke from his party to vote with the Republicans in trying to move forward with the measure.

The next increase in the borrowing limit, likely in the first quarter of next year, will be dependent on the ability of a panel of 12 lawmakers to reach a deal that cuts at least $1.2 trillion from federal budget deficits over the next decade.

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I seriously doubt the jobs bill had anything to do with the debt increase.  That funding is another story.  Take a look at Social Security.  The government now pays out more than it takes in.  But people want to preserve Social Security.  Nobody wants to touch the big spending, such as the military and Social Security.  But that's another story.

 

How will the jobs plan be paid for?  If you look at the plan most of the savings are delayed.  This tactic is used by both the Republicans and Democrats.  They are putting off any resolution of our spending problem until it becomes the problem of another administration.  In other words, they kick the can down the road.  It has been the tactic used by government for years.

 

When the United States moved off the gold standard we made our worth based only on our productivity and value.  The problem isn't the debt.  The problem is all the technology and jobs we moved overseas.  Our efforts to bring the world up to our standards is killing our own country.  Right now we should be more worried about jobs than money.  I'm not saying Obama's plan is right.  But doing something is better than sitting on our hands wishing somebody would do something.

 

The political environment is toxic.  People no longer work together.  The political parties are more interested in damaging each other than handling the business at hand.  Is Obama guilty?  Yes.  Was GW Bush guilty?  Yes.  The story goes back for many decades now.  Don't look for any candidate to fix the problem, because the problem is humanity.

 

Without this debt increase the government would have missed some payment for debt already incurred.  Most likely the biggest damage would have been to the military and Social Security.  Was it necessary?  Yes it was if each of us want to keep our little share of give-mes from the federal government.  We can all justify it.  Most of us don't even realize how much we get.  Check out how much Tennessee, Alabama, and Mississippi pay into the federal government verses how much they take out.  You will find all three are WELFARE states.  They take more than they give.  Then look at California and you might be surprised.

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