Democratic Senators Hike Debt Ceiling
By FITSNews || A day after President Barack Obama spoke of “freezing” federal spending, Democrats in the U.S. Senate sent a vastly different message to the American people – voting along party lines to raise the nation’s debt limit to an unprecedented $14.3 trillion.
That’s a $1.9 trillion increase – the largest ever – and it comes less than a year after Congress raised the federal debt limit by nearly $800 billion as a little-known component of Obama’s so-called “stimulus.” Another smaller increase in the debt ceiling was approved just last month.
Also, this increase is meant only to fulfill current spending obligations through the November elections.
“We are mortgaging our children and grandchildren’s future on a failed far-left agenda that is growing government while killing jobs across America,” Sen. Jim DeMint said in voting against the hike. “Instead of more wasteful stimulus spending and higher taxes, we should cut spending and enact broad-based tax cuts for all Americans to spur investment and job creation. If we continue to recklessly borrow money from China and the Middle East, it will lead to inflation, higher interest rates and higher taxes that will cripple our economy in the future.”
The vote was 60-39 in favor of raising the limit.
We’ve written about the debt ceiling in the past, but this is the best evidence yet that any rhetoric about fiscal responsibility coming from the leftists currently running our country is just that … rhetoric.
Obviously, anybody with half a brain knew Obama’s “freeze” was nothing but hot air, but this should make it crystal clear.