Apparently when Bush had the national debt limit raised to $9 trillion recently, that wasn’t enough:
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. House leaders hope to try once again to pass a budget plan for fiscal 2007, a month after a revolt by House Republican moderates and Appropriations Committee members forced leaders to pull the plan.
Leaders also hope to pass a package of tax-cut extensions that would cost the Treasury $70 billion over the next five years. They would then turn Thursday to a $513 billion defense policy bill that would block President Bush’s request to raise health-care fees and co-payments for service members and their families.
In recent days, Congress has received some good news on the budget front. A surge of tax revenues this spring, sparked by economic growth, prompted the Congressional Budget Office last Thursday to revise its 2006 deficit forecast from around $370 billion to as low as $300 billion.
But the federal debt keeps climbing because of continued deficit spending and the government’s insatiable borrowing from the Social Security trust fund.
Yeah so what’s a trillion dollars? We don’t need to worry about that, after all we are spreading democracy in the Middle East. Why don’t we go ahead and free the entire world from dictators. Who really cares if we become a third-world nation because of it?
Well conservatives (and I mean the true ones out there like Pat Buchanan – the Paleocons), we know that you are now without a party. The Republican party that you were all the shining stars of and which embraced your values is no more. Why not give up on that and come on over to the Democrat party. The Democrats showed in the 90’s they could handle the countries finances and all the other values you believe in won’t mean much when we become the new China. If you want to save America then it is time to join us and help get the country back on the right track.