Senate GOP Faces Vote to Increase Debt

[deadparrot]

WASHINGTON - Republicans in the Senate face a difficult but necessary vote in coming weeks to allow the Treasury to pad the $8.2 trillion national debt by another $781 billion.

The need to increase the legal limit on the debt has Democrats eager to use the debate to blast President Bush and his GOP allies in Congress for their fiscal stewardship.

"During this administration, America's debt, that is, the total of the deficits has increased by $3 trillion," said Sen. Max Baucus (news, bio, voting record) of Montana, top Democrat on the Finance Committee. "That's a 40 percent increase in the entire federal debt accrued by our country in its entire history."

Treasury officials briefed Senate staff aides Thursday and told them that without an increase in the government's ability to borrow, it would default on obligations for the first time in history sometime during the week of March 20. That is an unthinkable prospect that would roil financial markets and damage the government's credit rating.

http://news.yahoo.com/s/ap/20060302/ap_on_go_co/federal_debt

[FloridaPat]

1. Hmmm. 40% increase in national debt. 40% increase in M3.

What a spending spree these repubs have been on.

[shanti]

2. they're spending like there's no tomorrow

oh wait.....

[wordpix]

3. We MUST get the whole fat bunch of them impeached, liquidate their assets

and give their billions to the Treasury.

I wonder how much the BushCheney real estate is worth? Not to mention, their stakes in BigOil.

[CatholicEdHead]

4. How much media attention has this gotten?

None, how much will it get? Very little to none.

[AlCzervik]

5. besides here? Not much, maybe the Newshour on PBS will cover it.

[Born Free]

9. Media will not report unless democrats stand up

Media only reports news and as long as the elected democrats refuse to find anything wrong and take a stand, the media is not going to report it as there is NO news. Much of the problem with to days media is the lack of fight from the democrats, the media would love to see a good political fight but unfortunately the elected democrats would rather avoid any public confrontation. Unlike Newt Gingrich that was known as a "political bomb thrower" during his time, the democrats are more like spit ball shooters in the back of the room, they get a good giggle out of it but the public doesn't care, because people today are looking for "political bomb throwers" like Newt Gingrich. This is not to say I support Newt Gingrich, only that his style got the news media excited.

on edit: America would be a better place today if Democrats would have stood up and "screamed" like Dean rather than turn their heads in shame because a democrat showed some enthusiasm

[magellan]

11. Hear hear!

Stand up, walk out. It isn't rocket science. The longer the Dems play along like good little children, the more Americans feel neither party gives a damn about them or this country.

And maybe in the end, that's the sad and awful truth.

[mac56]

6. Red Ink Republicans

Not only are they shitty on national defense, they're shitty with the budget too.

[central scrutinizer]

7. Like drunken pirates on shore leave with stolen credit cards

"Another -hic- round for the house, bartender"

[roseBudd]

8. click through & vote this a 5 DUers!

[Starfury]

10. Why stop there? Make it an even $10 trillion of debt!

Guess that's their idea of fiscal restraint... :eyes:

[Massachusetts]

12. Increase Debt

There should have been a "lock box" for Social Security, because the funds are going to get sucked dry, with nothing but a paper trail of IOU's left behind.

[Bandit]

13. The National Debt is increasing by $100,000.00 per second

Before Bush* is ousted that figure may double. Especially if interest rate rise. $100,000.00 per second almost impossible to wrap one's brain around such a number.

http://www.toptips.com/debtclock.html

wait five seconds for it to load and scroll down just a little. Real scary stuff

[truthisfreedom]

14. it's not enough to complain. we need to DEFINE WHERE IT IS GOING. we need

to speak loudly and clearly about WHERE THIS MONEY IS GOING.

[phantom power]

15. Like everything else, they've made a mockery of a "debt ceiling."

What good is a debt "ceiling," if they just vote to raise it every time they bump their heads on it? They've turned it into just another meaningless facade.

[Ganja Ninja]

16. If it's bad news it must be Friday afternoon.

Thanks Right wing media for covering the GOP's ass once again.

[indypaul]

17. Should refer to this as "birth tax"

since it becomes a liability of each U.S. citizen when born.

[DiverDave]

18. Well, I called 2 of my 3 senators

Not that it will do much good complaining to bidan. And castle, they probably would have hung up on me.
Carpers office was very nice and engaged, we talked for some time, and I told the staffer to check out D.U. to get a feel for the REAL democratic voter.
Of course, he never heard of this place...sigh...one staffer at a time, I suppose.

[llmart]

23. Where do you live that you have 3 senators?

Just asking:)

[DiverDave]

24. Well, I can say "DUH"

I meant to say my CONGRESSMAN...
So, any other hints?, maybe my spelling or grammer?

[stepnw1f]

19. GOP Spend, Spend, Spend

Waste those tax dollars.

[november3rd]

20. "ukraine" BushCo

Let's start by cutting 200 billion out of the defense budget, and raise the rest of the money on tarriffs on imports.

[worldgonekrazy]

21. Democrats DEFINITELY need to make an issue of this

In terms of the mid-term elections, this is a golden opportunity to remind independents and moderate Republicans of how fiscally irresponsible this administration is. Also, pounding home the message could demoralize some of the Repub's base (the real fiscal conservatives, not the fundies).

[Babel_17]

22. The rich get richer, the middle class gets poorer and ....

our bloated government puts all of us and future generations under an unimaginable mountain of debt.

That should be our message. State it simply and clearly and then immediately point to the state of affairs that existed under Clinton and Gore.

Thankfully most of the public remembers things were managed much better then.