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Thursday, November 18, 2004

Debt Ceiling raised by 800 billion dollars by Congress

Well, here we go again folks. It passed with a 52-44 vote. Evidentially the Dept. of Treasury has been borrowing money from a civil service retirement account to pay the bills lately. As of last month, the national deficit was exceeding 7 trillion dollars, which is the maximum amount of money the gov't can borrow. Not anymore. Here is how the republicans acted during this very partisan vote in Congress:

Republican senators did not join in the debate, underscoring how politically uncomfortable the measure is for them. That discomfort was highlighted when they refused to bring the bill to a vote before the elections.

Looks like they cast their vote, and turned tail. Something has to give here folks. 800 billion won't last too long under this administration, with a load of new policies and promises and a war in Iraq that isn't going away anytime soon. The only question is, which federally funded programs are the first to suffer? I sure am glad I'm not on the funds appropriation committee.



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