Isn’t this assclown supposed to be reducing the debt?
Barack Obama formally notified Congress on Thursday that he plans a $1.2 trillion increase in the U.S. debt limit, prompting Republicans to level election-year charges that deficits are out of control.
Obama, in a one-sentence letter to House of Representatives Speaker John Boehner, the top Republican in Congress, said “further borrowing is required to meet existing commitments.”
The proposed increase would push the debt ceiling to $16.394 trillion.
……Lawmakers are unlikely to muster the votes needed to block the boost in U.S. borrowing capacity, so a replay of last summer’s debt limit drama that brought the federal government to the brink of default and cost the United States its top-tier credit rating is not expected.
http://www.reuters.com/article/2012/01/13/us-usa-debt-obama-idUSTRE80B20P20120113
The reason our economy is in such crappy shape, is because of the wild-assed spending that keeps busting through whatever debt ceiling we have, from administration to administration. Obama took our country to hell in a socialist handbasket with hostile government-forced takeovers of 2/3rds of the auto industry and the engineered collapse of the banking infrastructure.
He took a bad economy and made it worse by destroying America’s financial stability. To justify his tactics, he holds up seniors and the disabled as a fear factor. His visceral hatred for successful entrepreneurs and support for union thugs—not the working people who struggle through life under the strain of increasing government intrusion—is reflected in every one of his domestic policies.
We are saddled with a $15+ trillion debt, uncontrolled borrowing and spending, higher taxes on the horizon, the economy in a nosedive, high unemployment, a lengthy history of government mismanagement, and a Marxist regime that refuses to stop gouging people for their class war. The unemployment rate was 7.2% when the Anointed One took office. It’s now close to 10% (officially), but when you figure in all the people who stopped looking for work and ran out of unemployment benefits, it’s around 15.2%.
Only a leftard with an abundance of gall and stupidity would even think of adding another trillion to our bloated debt.
I thought the whole point of the debt ceiling debate in 2011, was to get out the budget ax and come up with a more common sense spending plan.