Thursday, January 21, 2010

Senate Democrats Propose $1.9T Increase to U.S. Debt Limit - Senate Democrats Propose $1.9T Increase to U.S. Debt Limit

Senate Democrats on Wednesday proposed allowing the federal government to borrow an additional $1.9 trillion to pay its bills, a record increase that would permit the national debt to reach $14.3 trillion.

My Thoughts
To even consider this during this juncture shows poor judgment and tells the American people that they are poor stewards of our money. Remember, it is our money that we pay to the government in taxes.

In almost every household, families run their budgets on a cash basis. They don't use deficit spending to buy things. If they want something, they save for it or decide it isn't something they really want.

With credit card debit decreasing on a monthly basis, Americans, I believe, have learned their lessons. Most of my unemployed friends say the same thing. "We are not going back into debt anymore. We have learned our lesson." I just wished the government learned its lesson about spending.

With our debt mounting and our credit score at risk, I think Congress would be silly to even suggest this as a solution. The Democrats will probably starting whining about how we are in a war that is costing us billions a month. We will hear the whole laundry list of people to blame. Stop blaming people and work the problem! Cut back on the programs! Let the states deal with social programs. The states are capable and closer to the issues of their people. They can certain provide better and more timely response to problems.

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