Obama, Congress Strive To Bankrupt America
Democratic Majority Leader Steny Hoyer (D-MD) told reporters on Friday that the US Congress will need to condone at least $1.8 trillion in additional federal borrowing in 2010 if the government does not want to default on the dangerously high U.S. debt.
Rep. Hoyer claims that raising the U.S. debt limit would have to be in the $1.8 to $1.9 trillion range. Such an increase would permit the federal government to borrow sufficient funds in order to keep Washington, DC running through December 2010.
Democrat lawmakers are attempting to pass a stealth increase in the $12.1 trillion cap on borrowing before the end of the year and are trying to sneak through an increase large enough so that they won’t have to vote again on the issue before next year’s midterm elections. Their bill — opposed by conservatives fortunate to find out about it — would permit a total federal debt of about $14 trillion at a time when President Obama is promising to reduce the debt and deficit during his administration.
In fact, the President — and Democrats in general — claims that the gargantuan health care package will decrease the deficit, although conservatives have yet to see evidence of such a reduction.
Harold
ACGR's "News with Attitude" 