Thursday, January 21, 2010

Senate democrats want to raise national debt ceiling to $14.3 trillion

They need to do this to allow President Obama to continue spending like a proverbial drunken sailor (apologies to drunken sailors everywhere.) This legislation will require 60 votes. Democrats need to ram it through befor Scott Brown gets seated. Otherwise, they may be forced to impose some fiscal responsibility on Congress and President Obama.

AP reported via Yahoo News:

The unpopular legislation is needed to allow the federal government to issue bonds to fund programs and prevent a first-time default on obligations. It promises to be a challenging debate for Democrats, who, as the party in power, hold the responsibility for passing the legislation.

No comments: