While Americans were sleeping, the US debt jumped a record $328 billion in one day on Thursday and now is over $17 trillion. The jump was not a result of new spending, but instead because the government was replenishing its stock of “extraordinary measures”.
U.S. debt jumped a record $328 billion on Thursday, the first day the federal government was able to borrow money under the deal President Obama and Congress sealed this week.
The debt now equals $17.075 trillion, according to figures the Treasury Department posted online on Friday.
The $328 billion increase shattered the previous high of $238 billion set two years ago.
The giant jump comes because the government was replenishing its stock of “extraordinary measures” — the federal funds it borrowed from over the last five months as it tried to avoid bumping into the debt ceiling.
The PJ Tatler could not have stated it any better when it comes to the games that only the government is allowed to play.
This robbing Peter to pay Paul nonsense should be banned — especially since neither Peter or Paul have any extra cash anyway. If the feds were a private business, they would have been arrested, tried, and convicted for cooking the books long ago.
Senator Ted Cruz Rips Senate Debt Agreement That Ignores Obamacare … Once Again The Washington Establishment is Refusing to Listen to the American People”
And the real losers of the Senate debt agreement are the American People …
Senator Ted Cruz (R-TX) speaks the truth in a press conference yesterday following the announcement that Harry Reid (D-NV) and Mitch McConnell (R-KY) had struck a deal to open the partially closed government and extend the debt limit. Cruz blasted the agreement for its lack of protecting the people, jobs and America against the train-wreck known as Obamacare.
Cruz blasted the Washington, DC status quo and establishment for continuing down the same path that got us to a $17 trillion debt. Maybe it truly is time for a Third Party because the GOP and Democrats do not seem to be the answer for America.
Establishment Republicans Surrender … House Passes Senate Bill to Reopen Government and Increase Debt Limit 285-144 … Senate Passes Bill 81-18
Speaker Boehner and GOP cave … In a country that already spends more than it takes it, irresponsible politicians kick the can down the road and raise the debt limit to spend even more money that America does not have.
Tonight the US Senate and House of Representatives passes the Senate led bill to end the partial government shutdown and increase the debt limit. The Senate passed the bill 81 to 18 and the House voted in favor of it 285 to 144. Incredibly, not one Democrat in the House or Senate voted against raising the debt on “We the People”. Imagine that? CNN reports that President Barack Obama will sign it immediately. The director of the Office of Management and Budget said that federal workers should expect to return to work Thursday morning. Hmm, does this mean that open air monuments will be open to of military veteran heroes?
In Obama’s speech tonight there was no reference to the GOP as terrorists or hostage takers … where is the evil rhetoric Mr. President?
Congressional Republicans conceded defeat on Wednesday in their bitter budget fight with President Obama over the new health care law as the House and Senate approved last-minute legislation ending a disruptive 16-day government shutdown and extending federal borrowing power to avert a financial default with potentially worldwide economic repercussions.
With the Treasury Department warning that it could run out of money to pay national obligations within a day, the Senate voted overwhelmingly Wednesday evening, 81 to 18, to approve a proposal hammered out by the chamber’s Republican and Democratic leaders after the House on Tuesday was unable to move forward with any resolution. The House followed suit a few hours later, voting 285 to 144 to approve the Senate plan, which would fund the government through Jan. 15 and raise the debt limit through Feb. 7.
Most House Republicans opposed the bill, but 87 voted to support it. The breakdown showed that Republican leaders were willing to violate their informal rule against advancing bills that do not have majority Republican support in order to end the shutdown. All 198 Democrats voting supported the measure.
From Business Insiders, Here’s The Bill That’s Going To End The Government Shutdown And Raise The Debt Ceiling.
A list of the 18 Republican Senators who voted against the Bill that will raise the debt and continue the out of control, drunken spending of politicians.
UPDATE I: All the House, Senate and President have done is kick the can down the road and solve nothing. No one wants to make the tough and responsible decisions because we have politicians who care more about their power and their agenda than they do “We the People” or the United States of America. Honestly, who in their right mind thinks that a country can continue to borrow billions of dollars a day and actually sustain itself?
Barack Obama Wants to Raise the Debt Ceiling Again … Borrow Another $1.2 Trillion on Chinese Credit Card
Remember when candidate Obama called W “unpatriotic” for borrowing?
You can’t be serious? Wouldn’t it be nice if “WE THE PEOPLE” had an unlimited budget and debt ceiling as well? We at Scared Monkeys cover political, current events, missing persons stories and true crime. These days the real “TRUE CRIME” is what is being perpetrated on the American people by our Government.
President Barack Obama will ask Congress to raise the debt ceiling once again. Who honestly thinks that this is the way that one handles paying their bills when they spend more than they take in? Obama is expected to ask for authority to increase the borrowing limit by $1.2 trillion.
Watch the Video below, courtesy of the Gateway Pundit, where Barack Obama, the Hypocrite in Chief, called Bush “unpatriotic” for raising the debt limit by $4 trillion during his eight years. Obama called it irresponsible and unpatriotic. So what does that mean you are Barack for doing worse in three years? Please tell me some one at the GOP is already making this political ad for 2012?
The White House plans to ask Congress by the end of the week for an increase in the government’s debt ceiling to allow the United States to pay its bills on time, according to a senior Treasury Department official on Tuesday.
The approval is expected to go through without a challenge, given that Congress is in recess until later in January and the request is in line with an agreement to keep the U.S. government funded into 2013.
The debt is projected to fall within $100 billion of the current cap by December 30, when the United States has $82 billion in interest on its debt and payments such as Social Security coming due. President Barack Obama is expected to ask for authority to increase the borrowing limit by $1.2 trillion, part of the spending authority that was negotiated between Congress and the White House this summer.
As the Lonely Conservative opines, America is not safe from this President even when he is on his million dollar vacation in Hawaii and playing his 90th round of golf. A tax and spend liberal like Obama always finds time to tax and spend and raise the debt to even higher levels. The new debt limit will go up to almost $16.4 trillion. That’s $16,400,000,000,000!!! Brought to you by the President and the Democrats who refuse to pass a budget.
What Pat in Michigan said … These people are just running this country into the ground. For all things that are Holy and Good, please, please for the Love of God vote this guy out of office and provide us with a responsible President and Congress in 2012. I beg you America, before it is too late.