Mar 16, 2006

Nine trillion dollars.

I'm sick to my stomach after reading this. Under Clinton, didn't we have a surplus? I'm just saying.
Only a handful of Republicans spoke in favor of the measure as a mostly empty Senate chamber conducted a brief debate Wednesday evening.

Senate Finance Committee Chairman Charles Grassley, R-Iowa, said Bush's tax cuts account for just 30 percent of the debt limit increases required during his presidency. Revenue losses from a recession and new spending to combat terrorism and for the war in Iraq are also responsible, he said.

As for the $781 billion increase in the debt limit, Grassley said: "It is necessary to preserve the full faith and credit of the federal government."
Newsflash for Grassley: Being nine trillion dollars in debt really does nothing for me in terms of preserving my faith in the federal government right now. Seriously.

(Props to Rich for the link.)

2 comments:

Kvatch said...

Yeah, but the real questions is: If they hadn't raised the debt ceiling would be all have been immediately asked to contribute our $30,000 in order to forstall world-wide fiscal calamity?

mrgumby2u said...

So his point is that something that accounts for only a third of the debt isn't work focusing on? Even if that third is the part we can have the most actual control over?