Democrats propose $1.9 trillion hike in debt limit

myp

myp

Jan 2009
5,841
50
The Democrats were back at it again today, looking to increase the debt limit once more, this time proposing a $1.9 trillion hike. The measure of course comes in a time when they aren't in a great political position after yesterday's stunning victory by Scott Brown in Massachusetts. This proposal is being passed off as necessary in order to not default on debt obligations, but the Republicans in the Senate as well as a couple of Democrats seem to be opposed to this limit hike. I wonder if those supporting this bill ever thought of cutting spending to not default instead...

reference: http://news.yahoo.com/s/ap/20100120/ap_on_bi_ge/us_congress_debt_limit_11
 
David

David

Jul 2009
5,893
474
Port St. Lucie
myp said:
The Democrats were back at it again today, looking to increase the debt limit once more, this time proposing a $1.9 trillion hike. The measure of course comes in a time when they aren't in a great political position after yesterday's stunning victory by Scott Brown in Massachusetts. This proposal is being passed off as necessary in order to not default on debt obligations, but the Republicans in the Senate as well as a couple of Democrats seem to be opposed to this limit hike. I wonder if those supporting this bill ever thought of cutting spending to not default instead...

reference: http://news.yahoo.com/s/ap/20100120/ap_on_bi_ge/us_congress_debt_limit_11
Click to expand...

SS and Medicare need to go. That would solve most of our problems right off.
 
deanhills

deanhills

Mar 2009
2,188
2
myp said:
The Democrats were back at it again today, looking to increase the debt limit once more, this time proposing a $1.9 trillion hike. The measure of course comes in a time when they aren't in a great political position after yesterday's stunning victory by Scott Brown in Massachusetts. This proposal is being passed off as necessary in order to not default on debt obligations, but the Republicans in the Senate as well as a couple of Democrats seem to be opposed to this limit hike. I wonder if those supporting this bill ever thought of cutting spending to not default instead...

reference: http://news.yahoo.com/s/ap/20100120/ap_on_bi_ge/us_congress_debt_limit_11
Click to expand...
I guess that was on the cards right from last January when Obama started to spend trillions. I have no doubt that they will pass the hike, as if not, there will be a much more serious dilemma than what they had anticipated last year when they were working on bailing out the sick banks. Remember the bail-out message - SPEND! SPEND! SPEND!
 
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myp

myp

Jan 2009
5,841
50
deanhills said:
I guess that was on the cards right from last January when Obama started to spend trillions. I have no doubt that they will pass the hike, as if not, there will be a much more serious dilemma than what they had anticipated last year when they were working on bailing out the sick banks. Remember the bail-out message - SPEND! SPEND! SPEND!
Click to expand...
I am not so sure that it will pass this time, especially with the way the Massachusetts election went. Also, there is another proposal to simply pull back the remaining TARP funds to go towards paying off the debt and it seems to have garnered some attention from both parties, so that might be a good alternative.

By the way, I deleted the duplicate post for you :)
 
deanhills

deanhills

Mar 2009
2,188
2
myp said:
I am not so sure that it will pass this time, especially with the way the Massachusetts election went. Also, there is another proposal to simply pull back the remaining TARP funds to go towards paying off the debt and it seems to have garnered some attention from both parties, so that might be a good alternative.

By the way, I deleted the duplicate post for you :)
Click to expand...
Thanks for deleting my duplicate posting. :redface:

Would be great if the spending limit proposal does not get passed, as that would then definitely mean that there will be curbs on future spending. Hopefully it will be ditto for the Healthcare Reform Bill too, i.e. not approved, as it really needs a major overhaul. If Obama had sent it back a long time ago, just imagine how different it would have been, all the issues that should have been attended to and got shelved for this one that Obama just can't let go off. Probably going to turn into his Achilles Heel.
 
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