Day after MA special election: Democrats propose $1.9 trillion debt increase

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Day after MA special election: Democrats propose $1.9 trillion debt increase

Wednesday, January 20th, 2010 | Politics |

Ass. Press - Democrats propose $1.9T increase in debt limit:

WASHINGTON – Senate Democrats on Wednesday proposed allowing the federal government to borrow an additional $1.9 trillion to pay its bills, a record increase that would permit the national debt to reach $14.3 trillion.

The unpopular legislation is needed to allow the federal government to issue bonds to fund programs and prevent a first-time default on obligations. It promises to be a challenging debate for Democrats, who, as the party in power, hold the responsibility for passing the legislation.

It’s hardly the debate Democrats want or need in the wake of Sen.-elect Scott Brown’s victory in Massachusetts. Arguing over the debt limit provides a forum for Republicans to blame Democrats for rising deficits and spiraling debt, even though responsibility for the government’s financial straits can be shared by both political parties.

If you think $1.9 trillion is a lot, wait until after the regular fall 2010 elections.

Tags: deficit, national debt

1 Comment to Day after MA special election: Democrats propose $1.9 trillion debt increase

Skeptic
January 29, 2010

And it appears that they’ve voted it through, with ex-senator Kirk as the 60th vote. I presume that no-one is making a stink about this because:
a: it’s a bit more convenient for the FedGov to continue functioning than not
b: it can be blamed 100% on the democrats.