The inevitable result of the continued tax-and-spend agenda in Washington.
The Senate must move legislation to raise the federal debt limit beyond $12.1 trillion by mid-October, a move viewed as necessary despite protests about the record levels of red ink.
The move will highlight the nation’s record debt, which has been central to Republican attacks against Democratic congressional leaders and President Barack Obama. The year’s deficit is expected to hit a record $1.6 trillion.
Republicans weren’t exactly the poster party for fiscal responsibility during their six years in control of both the White House and Congress. But Congressional Democrats at the time, including then-Senator Barack Obama, blasted the Bush Administration for its spending habit.
Democrats in control of Congress, including then-Sen. Obama (Ill.), blasted President George W. Bush for failing to contain spending when he oversaw increased deficits and raised the debt ceiling.
“Washington is shifting the burden of bad choices today onto the backs of our children and grandchildren,” Obama said in a 2006 floor speech that preceded a Senate vote to extend the debt limit. “America has a debt problem and a failure of leadership.”
Obama later joined his Democratic colleagues in voting en bloc against raising the debt increase.
And yet the nation’s deficit at the end of the Bush Administration was around $400 billion. So $400 billion deficits under Bush were considered outrageous by Congressional Democrats and Barack Obama, but $1.6 trillion deficits under the Obama Administration to fund a liberal agenda are okey dokey? Amazing.
9. September 2009 at 2:32 pm
Wouldn’t it be a better idea to WAIT to consider a healthcare plan AFTER: We see
1. what will become of the economic stimulus plan. So far, the Obama branch of this porker give-away has done virtually nothing to stimulate the economy. The American economy, at the control of Obama, is failing.
2. what will become of the TARP loans. And, will GM default on the aprox. 81 Billion dollars and how will this affect the U.S. budget and deficit.
3. what will become of Social Security, slated to come crashing down in a few short years. That’s when the greater bulk of baby-boomers will definitively retire and cause the boat to list.
4. will home and auto sales rebound, because right now there is nothing going on in either market. The “clucker” program did nothing to substantially aid the American car markers — although it did help our foreign auto maker friends. Let’s wait and make certain that these extremely crucial markets recover before leaping into massive healthcare overhauls.
5. what will happen with the current business downturn and unemployment. Obama assured that there would be no greater average unemployment than 8%, and we are at 10%. In some areas of the country inflation is double-digits, 14, 16, 20 percent.
6. what will need to be done to cure the rocketing high deficits.
7. what will happen when, since the timing is right, the Ron Pauls will get their way and audit the Federal Reserve. Recall what happened when Fannie Mae and Freddie Mac coughed-up.
8. what will be the tax rate consequences due to the unrestrained spending spree of the past 24 months. Trillions of dollars will have to be paid in increased taxes. There’s talk about adding a value added tax; will this be in addition to the progressive tax? Will there be a tax revolution, all of which could mean that the funds for a national government controlled health plan could be severely limited. This would translate into exceedingly limited services in health care for people.
9. what will happen if $500 Billion are taken from Medicare. Take it now and wait to see what happens. Besides everything short of full anarchy by the elderly, this is adding much more stress to an already stressed system.
Don’t be surprised that Obama, on his 112th “new” pitch to sell his (snake oil) health plan, will offer nothing substantial; and, certainly nothing that could not wait until prudently we resolve each and every issue mentioned. American’s are saying they are fine with the insurance and health care arrangements they currently have. Perhaps leaving well enough alone is best. Certainly, over the summer we have seen what “it could be worse” looks like, and nobody cares for Socialism in the U.S.A.