The taxpayers of the United States are already facing massive amounts debt. As I've previously mentioned, our interest only payments on the national debt, are going to consume nearly half of our Gross Domestic Product each year. We are bankrupt as a nation. And yet, the government is looking to increase their ability to spend and borrow in order to create a new America, dependent on the "mercies" of our government.
The politico has the story.....
Dems seek cover to boost debt limit
By MANU RAJU | 10/22/09 1:48 PM EDT
The Senate must soon increase the national debt limit to above $13 trillion — and Democrats are looking for political cover.
Knowing they will face unyielding GOP attacks for voting to increase the eye-popping debt, Democrats are considering attaching a debt increase provision to a must-pass bill, possibly the Defense Department spending bill, according to Democratic and Republican sources.
Adding it to the defense bill would allow Democrats to argue that they voted for the measure to help troops in harm’s way — and downplay that their vote also expanded the limit for how much money the country can borrow.
The strategy has not yet been finalized, aides and senators said. The House already approved a debt limit increase of $925 billion — above the $12.1 trillion ceiling Congress approved as part of the economic stimulus package last February — but Democrats may seek to increase the limit further so they don’t have to revisit the politically treacherous issue until after the 2010 midterm elections.
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It's funny... as I read "Atlas Shrugged" I seem to know that with every page I turn, time in the real world seems to mimic the book. Unfortunately I fear that there are only roughly 20 pages left in my 1200 page marathon. In the book, folks are running around with useless dollars printed in the name of "Good of all". The cover up is no different than the "We Have John Galt! He has agreed to help us!"
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