Crush Liberalism

Senate raising federal govt’s debt ceiling…again

President or Congress, Republican or Democrat, I will criticize this loudly and longly every single time. From al-Reuters:

With the U.S. government fast approaching its current $8.965 trillion credit limit, the Senate on Thursday gave final congressional approval of an $850 billion increase in U.S. borrowing authority.

The Senate voted 53-42 to raise the debt ceiling to $9.815 trillion, the fifth increase in the U.S. credit limit since President George W. Bush took office in January 2001. The U.S. House of Representatives approved the higher debt limit earlier this year as part of the overall budget resolution and the legislation now goes to Bush for his signature.

“We have no choice but to approve it. If we fail to raise the debt ceiling soon, the U.S. Treasury will default for the first time in its history,” said Senate Finance Committee Chairman Max Baucus.
…
But Sen. Tom Coburn, an Oklahoma Republican, urged lawmakers to reject the debt increase and concentrate on spending cuts instead.

“Families across America don’t have the luxury of loaning themselves any money when they’ve maxed out their credit. But that’s what we’re going to do,” Coburn said.

That’s just crazy talk, Sen. Coburn. Your colleagues on both sides of the aisle are addicted to pissing our money away, so by raising the debt ceiling, they’re just upping the amount they can piss away this year.

September 28, 2007 - Posted by crushliberalism | big government, economic ignorance