Thursday, January 21, 2010

Raise the Limit on Spending to $1.9 Trillion ???

"The record increase in the so-called debt limit is required because the budget deficit has spiraled out of control in the wake of a recession that cut tax revenues, the Wall Street bailout, and increased spending by the Democratic-controlled Congress. Last year's deficit hit a phenomenal $1.4 trillion, and the current year's deficit promises to be as high or higher."

"A White House policy statement said the increase "is critically important to make sure that financing of federal government operations can continue without interruption and that the creditworthiness of the United States is not called into question."

The above was taken from an article by Yahoo.

We should NOT CALL THE GOVERNMENT'S ACTIONS INTO QUESTION ???

While it seems all of us have to make spending cuts to our budgets due to difficult economic times, then why not the government? What makes them so special? They got themselves into a mess and put our credit rating into question by making poor decisions, spending too much, bailing out companies that should have been left alone, yet we, the American public should foot the bill for these people and not QUESTION IT ???

The article continued: "Republican Sen. John Thune of South Dakota immediately offered an amendment to end the bank and Wall Street bailout, officially known as the Troubled Asset Relief Program, or TARP. Thune would prohibit further expenditure of TARP funds and would require that all funds paid back be used to retire debt."

Way to go Thune! Lets see if they pass the amendment.

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