« Obama Mentions His Birth Certificate At National Prayer Breakfast | Main | Obama Reads Word "Corpsman" as "Corpse Man" Twice »
February 05, 2010
House Votes For OBAMA's $1.9 TRILLION More Debt To Our Country
Sens. Jim DeMint, Lindsay Graham, John McCain hold a press conference to announce support for a one-year earmark moratorium and a Balanced Budget Constitutional Amendment. The senators believe this is the best way for Congress to prove it is serious about cracking down on wasteful spending.
Demint: "We have a situation now that's just too serious to continue to handle that way, it's not an exaggeration to say that our country is on the edge of a financial cliff, with the level of debt we have at $12 trillion dollars now, the President's budget projects another $1.6 trillion this year and with the entitlements coming due, we're looking at $100 trillion in unfunded liability...One is a small step, it's a moratoruim on earmarks...If we have a balance budget requirement, then everything we propose that increases spending will have to be matched by a proposal to cut it"
House agrees to $1.9 trillion more debt (up to 14.3 Trillion ceiling)
The House on Thursday voted to allow the government to go $1.9 trillion deeper in debt — an increase of about $6,000 more for every U.S. resident that provided a vivid election-year reminder of the nation's perilous financial condition.
The huge debt increase, approved 217-212, is only enough to keep the government afloat for about another year as it borrows more than 40 cents of every dollar it spends on programs like defense, health care, feeding the poor and protecting the environment. The budget tops $3.7 trillion this year and the deficit's approaching $1.6 trillion under the budget submitted by President Barack Obama this week.
The huge increase — to $14.3 trillion — in the cap on federal borrowing was designed by Democratic leaders to ensure that the rank and file won't have to vote again to run up another increase before facing voters increasingly angry over government spending and debt in the November midterm elections.
Already, the accumulated debt amounts to roughly $40,000 per person.
"This debt is being piled on the backs of our kids and grandkids with no relief in sight," House Minority Leader John Boehner, R-Ohio, said.
Economists warn that the rapidly-rising debt could force interest rates higher and, if left unchecked, could have even worse consequences for the economy.
Thirty-seven Democrats, mostly from GOP-leaning districts, voted against the measure. So did every Republican.
Obama issued a statement praising passage of the statutory pay-as-you-go rules, but skipped any mention of the debt limit increase.
"It is no coincidence that when we last had statutory paygo, during the 1990s, we turned deficits into surpluses," Obama said. "The passage of statutory paygo today will help usher out an era of irresponsibility and begin putting the country back on a fiscally sustainable path."
But Rep. Pete Sessions, R-Texas, said: "In place of real fiscal discipline, it offers a phony pay-as-you-go rule that is more loopholes and exceptions and does nothing to tackle our government's long-term structural deficit." Skeptics say lawmakers also will find ways around the new rules fairly easily. For example, Congress can declare some spending an "emergency" — a likely scenario for votes later this month to extend jobless benefits for the long-term unemployed.
And MORE Spending by Obama the FREAK!
Obama's $2.5 Million Tax Payer Funded Super Bowl Commercial
Hold on to your wallets tight, The Government will be dipping into them again very soon. This Sunday the government will shell out 2.5 million taxpayer dollars to fund a 30 second Super Bowl Commercial to inform Americans about the 2010 census.
The 30 ad will feature actor and environmental activist Ed Begley, Jr. urging Americans to “stand up and be counted” for the 2010 US census. Rest assured, this money that is being stolen from you will be put to good use by informing football fans all across the nation that they need to fill out a 10 question survey. This unnecessary expenditure predictable, coming from an administration that spends money like its going out of style; yet it is somehow ironic given that it comes on the heals of Obama’s speech where he lectured American’s about wasting money, saying:
When times are tough, you — you tighten your belts. You don’t go buying a boat when you can barely pay your mortgage. You don’t blow a bunch of cash on Vegas when you’re trying to save for college.
.
Wild Thing's comment........
Unfunded ‘mandates’ total out at near 100 trillion dollars. And a commerical???? OMG!
We have amad man in the White House.
When they showed the vote on TV......Did you see the democrats actually cheering when the final vote total was announced to increase the debt?
Cheering to put us more in debt?
Unbelievable !
And yesterday the stock market just barely avoided closing under 10,000 .
And get this, GRRRRR, ABC will be having Katie Couric interview Obama live during Sunday's Super Bowl pre-game show, according to the network.
LEAVE US ALONE OBAMA AND GET OUT OF OUR FACE!
Posted by Wild Thing at February 5, 2010 04:50 AM
Comments
Well here we go again, McCain showing his compassion, Hahaha.
The projected Budget is 3.8 Trillion dollars. Earmarks currently are 1.9 Billion dollars. or Approximately, 0.05 % of the total budget. This could get larger but the difference it would make is small.
But obama says we can't spend money or blow a bunch of money at Vegas, yet they waste 2.5 Million on a 30 second commercial.
Name,Address, names of people living in household and how many. The rest is NRB...None of your F'n business.
Posted by: Mark at February 5, 2010 09:32 AM
My gosh, what are these people doing to our country?
Posted by: BobF at February 5, 2010 10:08 AM
I had not planned on watching the Super Bowl. Now, I guess I will so my tax dollars will tell me how to fill out the census.
Posted by: TomR at February 5, 2010 10:48 AM
Mark, LOL yes good one about McCain.
Ditto what you said.
BobF., I agree, it is really shocking and they have absolutely NO common sense along with everything else they are doing wrong.
Tom, LMAO, good one. Love how you put that.
Posted by: Wild Thing at February 5, 2010 04:23 PM
