Posted by: SWL | January 13, 2012

Federal Debt Nears Ceiling; Obama Requests $1.2 Trillion Increase

Yesterday President Obama sent a letter to Speaker of the House John Boehner, stating that the US is within $100 billion of the current debt ceiling and that “further borrowing is required”. Increasing the debt ceiling now would be the final phase allowed under the agreement the President reached with the Congress last August. If this increase passes (and it will – keep reading), the federal debt will have increased $2.4 trillion in 4.5 months.

Later yesterday, Senator Jim DeMint appeared on CNN’s “Erin Burnett OutFront” to discuss the federal deficit. I was astonished to hear him explain that the original deal in August specified that each of subsequent two votes to raise the debt ceiling could be passed with approval of only one-third (instead of the usual 60 votes) in the Senate and one-third of the House. This allows the debt ceiling to be increased without those who oppose it (in theory, I guess) having to vote in favor to keep the government running smoothly.

What kind of convoluted legislation is that??? We need to hold our Congressional representatives responsible for the outcome of their votes, no just isolated yeas or nays. If your senator or representative voted in favor of August’s Budget Control Act (which contained the structure for the next two increases), than they voted for the total package no matter what their vote is next week on this latest request.

Check out the details at:
http://transcripts.cnn.com/TRANSCRIPTS/1201/12/ebo.01.html

http://politics.blogs.foxnews.com/2012/01/13/debt-ceiling-time-cloak

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