Senate Votes to Raise Debt Limit

[techs]

http://news.yahoo.com/s/ap/20060316/ap_on_go_co/congress_debt_limit

The Senate voted Thursday to allow the national debt to swell to nearly $9 trillion, preventing a first-ever default on U.S. Treasury notes.

The bill passed by a 52-48 vote. The increase to $9 trillion represents about $30,000 for every man, woman and child in the United States


On Clintons last day in office the national debt was 5.66 trillion.
Go here to see the National Debt on any day you choose:
http://www.publicdebt.treas.gov/cgi-bin/cgiwrap/~www/opdpen.cgi

It is quite possible that by the time Bush leaves office he will have doubled the national debt in his eight years in offfice.

Now here's some really interesting news.
http://www.federalbudget.com/

In Fiscal Year 2005, the U. S. Government spent $352 Billion of your money on interest payments* to the holders of the National Debt. Compare that to NASA at $15 Billion, Education at $61 Billion, and Department of Transportation at $56 Billion. For the current FY06, we've already spent $174 billion on interest payments!

I should also point out that just a couple of days ago the Senate failed to pass, by a 50-50 vote a bill to re-impose PAGO on the budget.
Guess which party consisted entirely of the 50 against?

 

[Sheik Yerbouti]

WOO HOO! What great news about the fiscally responsible administration!!

 

[dahunan]

Politicians can steal MORE OF OUR MONEY... while they tighten the clamps on citizens and bankruptcy laws

They can decrease funding for education and cut abortion rights and cut birth control funding ...


Why are these people in charge of our money?

 

[akenbennu]

Why are these people in charge of our money?

Unfortunately, because we elected them...

 

[Polish3d]

Let's just hope they lose at least one branch in Nov

 

[Engineer]

Don't worry...we can print all we want. 🙂

 

[FelixDeCat]

Originally posted by: Engineer
Don't worry...we can print all we want. 🙂

Im very afraid we are going to default. SS needs to be abolished or reduced by 50% asap. They cant control spending, but we can renig on SS.

If we renig on the national debt however, all money, stocks and bonds will be worthless. Your 401k will be worth .0001 cents on the dollar.

 

[jlmadyson]

Originally posted by: Frackal
Let's just hope they lose at least one branch in Nov

You think this is just a GOP issue, negative, I watched the Senate all day yesterday, Dems and Repubs alike throwing in last minute pet projects and pork into the 2007 budget. As a conservative if there is one thing that has got my blood boiling more than anything as of late it would be this, but I know well better that it isn't exclusively a GOP issue either. Yes, the deficit and budget has gone up drastically, but where exactly is that money going for the most part, entitlements and defense. In war time I expect that defense would go up although even I would like this curtailed, but there is no answer for entitlements absolutely none whatsoever, and I do not expect there will be any answer for these programs anytime soon.

 

[Darkhawk28]

Originally posted by: jlmadyson

Originally posted by: Frackal
Let's just hope they lose at least one branch in Nov

You think this is just a GOP issue, negative, I watched the Senate all day yesterday, Dems and Repubs alike throwing in last minute pet projects and pork into the 2007 budget. As a conservative if there is one thing that has got my blood boiling more than anything as of late it would be this, but I know well better that it isn't exclusively a GOP issue either. Yes, the deficit and budget has gone up drastically, but where exactly is that money going for the most part, entitlements and defense. In war time I expect that defense would go up although even I would like this curtailed, but there is no answer for entitlements absolutely none whatsoever, and I do not expect there will be any answer for these programs anytime soon.

What entitlements are you referring to? Let me guess... Social Security and education.

Edit: Can anyone say... "Bridge to Nowhere?"

 

[conjur]

Originally posted by: Engineer
Don't worry...we can print all we want. 🙂

Don't worry...that could very well be what's going to happen once the publication of M3 goes bye-bye (here in a few days actually)

 

[Todd33]

Originally posted by: jlmadyson

Originally posted by: Frackal
Let's just hope they lose at least one branch in Nov

You think this is just a GOP issue, negative, I watched the Senate all day yesterday, Dems and Repubs alike throwing in last minute pet projects and pork into the 2007 budget. As a conservative if there is one thing that has got my blood boiling more than anything as of late it would be this, but I know well better that it isn't exclusively a GOP issue either. Yes, the deficit and budget has gone up drastically, but where exactly is that money going for the most part, entitlements and defense. In war time I expect that defense would go up although even I would like this curtailed, but there is no answer for entitlements absolutely none whatsoever, and I do not expect there will be any answer for these programs anytime soon.

Your long winded support for the GOP is admiral, but I think Frackel is saying the rubber stamp should go. The best thing for the country right now is to split the power and not leave it to those who have shown they are not competent.

 

[jlmadyson]

Originally posted by: Darkhawk28

Originally posted by: jlmadyson

Originally posted by: Frackal
Let's just hope they lose at least one branch in Nov

You think this is just a GOP issue, negative, I watched the Senate all day yesterday, Dems and Repubs alike throwing in last minute pet projects and pork into the 2007 budget. As a conservative if there is one thing that has got my blood boiling more than anything as of late it would be this, but I know well better that it isn't exclusively a GOP issue either. Yes, the deficit and budget has gone up drastically, but where exactly is that money going for the most part, entitlements and defense. In war time I expect that defense would go up although even I would like this curtailed, but there is no answer for entitlements absolutely none whatsoever, and I do not expect there will be any answer for these programs anytime soon.

What entitlements are you referring to? Let me guess... Social Security and education.

Edit: Can anyone say... "Bridge to Nowhere?"

Got anymore guesses? Missed a couple of big entitlement programs.

 

[Czar]

they follow the rules, they make the rules

 

[Darkhawk28]

Originally posted by: jlmadyson

Originally posted by: Darkhawk28

Originally posted by: jlmadyson

Originally posted by: Frackal
Let's just hope they lose at least one branch in Nov

You think this is just a GOP issue, negative, I watched the Senate all day yesterday, Dems and Repubs alike throwing in last minute pet projects and pork into the 2007 budget. As a conservative if there is one thing that has got my blood boiling more than anything as of late it would be this, but I know well better that it isn't exclusively a GOP issue either. Yes, the deficit and budget has gone up drastically, but where exactly is that money going for the most part, entitlements and defense. In war time I expect that defense would go up although even I would like this curtailed, but there is no answer for entitlements absolutely none whatsoever, and I do not expect there will be any answer for these programs anytime soon.

What entitlements are you referring to? Let me guess... Social Security and education.

Edit: Can anyone say... "Bridge to Nowhere?"

Got anymore guesses? Missed a couple of big entitlement programs.

Frankly, I don't find the things you consider to be entitlements to be as such.

 

[jlmadyson]

Originally posted by: Darkhawk28

Originally posted by: jlmadyson

Originally posted by: Darkhawk28

Originally posted by: jlmadyson

Originally posted by: Frackal
Let's just hope they lose at least one branch in Nov

You think this is just a GOP issue, negative, I watched the Senate all day yesterday, Dems and Repubs alike throwing in last minute pet projects and pork into the 2007 budget. As a conservative if there is one thing that has got my blood boiling more than anything as of late it would be this, but I know well better that it isn't exclusively a GOP issue either. Yes, the deficit and budget has gone up drastically, but where exactly is that money going for the most part, entitlements and defense. In war time I expect that defense would go up although even I would like this curtailed, but there is no answer for entitlements absolutely none whatsoever, and I do not expect there will be any answer for these programs anytime soon.

What entitlements are you referring to? Let me guess... Social Security and education.

Edit: Can anyone say... "Bridge to Nowhere?"

Got anymore guesses? Missed a couple of big entitlement programs.

Frankly, I don't find the things you consider to be entitlements to be as such.

Medicare and Medicaid, don't consider those as entitlements, I'm sure you don't.

 

[dmcowen674]

Originally posted by: FelixDeKat
SS needs to be abolished or reduced by 50% asap.

They cant control spending, but we can renig on SS.

Wow, another one calling for the instant death of the elderly.

How old are you???

 

[Darkhawk28]

Originally posted by: dmcowen674

Originally posted by: FelixDeKat
SS needs to be abolished or reduced by 50% asap.

They cant control spending, but we can renig on SS.

Wow, another one calling for the instant death of the elderly.

How old are you???

Probably still waiting for his nocturnal emmission.

 

[FelixDeCat]

Originally posted by: Darkhawk28

Originally posted by: dmcowen674

Originally posted by: FelixDeKat
SS needs to be abolished or reduced by 50% asap.

They cant control spending, but we can renig on SS.

Wow, another one calling for the instant death of the elderly.

How old are you???

snip.

Mid 30s. I know it wont be there for me, and Im not planning on it either. My parents are both retired and one works parttime. A gradual phaseout may save us. What bothers me is too many people my age who have nothing saved and expect Uncle Sugar to feed them 30 years from now. :roll:

M

 

[Todd33]

Originally posted by: jlmadyson


Medicare and Medicaid, don't consider those as entitlements, I'm sure you don't.

Your man in the WH was responsible for the largest expansion to Medicare ever (with late night arm twisting and bribing), the Dem's voted against it. So try pushing this on the out of power party again, you get another chance.

 

[jlmadyson]

Originally posted by: Todd33

Originally posted by: jlmadyson


Medicare and Medicaid, don't consider those as entitlements, I'm sure you don't.

Your man in the WH was responsible for the largest expansion to Medicare ever (with late night arm twisting and bribing), the Dem's voted against it. So try pushing this on the out of power party again, you get another chance.

Hell it was a big problem before that, lmao, please it still stands that they keep increasing and there hasn't been anything done to curtail those increases.

 

[Polish3d]

Originally posted by: Todd33

Originally posted by: jlmadyson

Originally posted by: Frackal
Let's just hope they lose at least one branch in Nov

You think this is just a GOP issue, negative, I watched the Senate all day yesterday, Dems and Repubs alike throwing in last minute pet projects and pork into the 2007 budget. As a conservative if there is one thing that has got my blood boiling more than anything as of late it would be this, but I know well better that it isn't exclusively a GOP issue either. Yes, the deficit and budget has gone up drastically, but where exactly is that money going for the most part, entitlements and defense. In war time I expect that defense would go up although even I would like this curtailed, but there is no answer for entitlements absolutely none whatsoever, and I do not expect there will be any answer for these programs anytime soon.

I think Frackel is saying the rubber stamp should go. The best thing for the country right now is to split the power and not leave it to those who have shown they are not competent.

Yes this is the conclusion I have come to

 

[jlmadyson]

Originally posted by: Frackal

Originally posted by: Todd33

Originally posted by: jlmadyson

Originally posted by: Frackal
Let's just hope they lose at least one branch in Nov

You think this is just a GOP issue, negative, I watched the Senate all day yesterday, Dems and Repubs alike throwing in last minute pet projects and pork into the 2007 budget. As a conservative if there is one thing that has got my blood boiling more than anything as of late it would be this, but I know well better that it isn't exclusively a GOP issue either. Yes, the deficit and budget has gone up drastically, but where exactly is that money going for the most part, entitlements and defense. In war time I expect that defense would go up although even I would like this curtailed, but there is no answer for entitlements absolutely none whatsoever, and I do not expect there will be any answer for these programs anytime soon.

I think Frackel is saying the rubber stamp should go. The best thing for the country right now is to split the power and not leave it to those who have shown they are not competent.

Yes this is the conclusion I have come to

Be that as it may, no party, be it Dems or Repubs are not going to stop rubber stamping huge and ever increasing entitlement programs.

 

[Todd33]

Originally posted by: jlmadyson
Hell it was a big problem before that, lmao, please it still stands that they keep increasing and there hasn't been anything done to curtail those increases.

You are right, cost of living increases and the such are the same as another trillion dollar hand out to the pharmaceuticals. Very interesting login you have, blame those not responsible and point back to the 80s while ignoring the rampant problems of today and those responsible. What happened to the party of personal responsibility? You are quite good at spin, you can be the next Scott McClellan.

 

[jlmadyson]

Originally posted by: Todd33

Originally posted by: jlmadyson
Hell it was a big problem before that, lmao, please it still stands that they keep increasing and there hasn't been anything done to curtail those increases.

You are right, cost of living increases and the such are the same as another trillion dollar hand out to the pharmaceuticals. Very interesting login you have, blame those not responsible and point back to the 80s while ignoring the rampant problems of today and those responsible. What happened to the party of personal responsibility? You are quite good at spin, you can be the next Scott McClellan.

BS, Republicans are responsible, plain and simple. But I'm not so naive to believe Dems are not responsible for huge entitlement spending as well as pork barrel spending either. Spin that.

 

[MonkeyK]

Originally posted by: FelixDeKat
Im very afraid we are going to default. SS needs to be abolished or reduced by 50% asap. They cant control spending, but we can renig on SS.

If we renig on the national debt however, all money, stocks and bonds will be worthless. Your 401k will be worth .0001 cents on the dollar.

Not mine. I have about 2/3 in global funds