Talk about the ultimate hypocrisy. The elected politicians (Democrats) who supposedly work for “We the People” are about raise the debt ceiling by $1.8 trillion while in the same breath they tell John Q. Public to cut back and be responsible with their money.
The government wants to increase the Congressional credit card and spend like even more drunken sailors while you are told to act responsibly. How are we ever going to pay this debt back?
Isn’t this how many Americans got into trouble with credit cards? Because the the bad financial situation they kept charging, the CC companies kept raising the credit ceiling until the debt to income ration was out of control and the CC companies then raised interest rates, individuals could not pay and people defaulted. In the case of the Democrats in power in DC, they just keep raising the debt ceiling. Must be nice when there is no one to say no and you do not care about the financial implications.
However, you do have a way to say no … VOTE THEM OUT OF OFFICE IN 2010 & 2012!
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.
The leadership is betting that it’s better for the party to take its lumps now rather than risk further votes over the coming year. But the enormity of the number could create its own dynamic, much as another debt ceiling fight in 1985 gave rise to the Gramm-Rudman deficit reduction act mandating across-the-board spending cuts nearly 25 years ago.
What happened to lowering the deficit. It cannot be continually raised. When will these Democrat politicians understand that the economy will never come back if they just keep creating a defict that is out of control?