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Politics : Sioux Nation -- Ignore unavailable to you. Want to Upgrade?

To: Travis_Bickle who wrote (66967)	5/9/2006 1:52:52 PM
From: T L Comiskey	Respond to of 361700

Message 22432158

To: Travis_Bickle who wrote (66967)	5/9/2006 1:54:28 PM
From: T L Comiskey	Respond to of 361700

As the poll floor drops, the debt ceiling rises In March, the Senate narrowly voted to increase the federal debt limit by $781 billion, bringing the debt ceiling to nearly $9 trillion. As it turns out, two months later, lawmakers decided the government needs a little more of a cushion. A $2.7 trillion budget plan pending before the House would raise the federal debt ceiling to nearly $10 trillion, less than two months after Congress last raised the federal government's borrowing limit. The provision — buried on page 121 of the 151-page budget blueprint — serves as a backdrop to congressional action this week. Indeed, it does. This week, congressional Republicans want to cut taxes for the wealthy (again) and pass a half-trillion-dollar defense policy bill. The WaPo noted that this is becoming something of a habit for the Republican majority. With passage of the budget, the House will have raised the federal borrowing limit by an additional $653 billion, to $9.62 trillion. It would be the fifth debt-ceiling increase in recent years, after boosts of $450 billion in 2002, a record $984 billion in 2003, $800 billion in 2004 and $653 billion in March. When Bush took office, the statutory borrowing limit stood at $5.95 trillion. Yeah, and when he took office, Bush vowed to a balanced budget and pay off the national debt, too.