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Wednesday, September 12, 2007
National Debt Limit Approaches 14-Digit Mark
To follow up on yesterday's post, Debt on Arrival, the Senate Finance committee acted today, voice voting to increase the debt limit by $850 billion to close to $10 trillion. That's a 14-digit figure, in case you are counting.
Amid some partisan discussion over who is to blame for the 40 percent increase in the national debt during the Bush/GOP-Congress years of 2001-06, Sen. Jon Kyl (R-AZ) took the high ground during the committee's debate on the debt limit. Assigning blame for the $3 trillion increase is puerile, beneath the Senator's dignity. "Let's be careful about playing political games," said Kyl, noting that earlier in the day the Senate approved a Transportation-HUD appropriations bill exceeding the White House budget request by nearly $6 billion.
That's 6, much higher than 3 -- talkin' real money now!
The Finance Committee's ranking member Charles Grassley (R-IA) remarked that "refusing to [raise the debt limit] is like refusing to pay your credit card bill." The voice vote was unanimous in favor, though Grassley informed colleagues that one absent member, Sen. John Ensign (R-NV) wished to be recorded as a "no" vote. [Query: Does Mr. Ensign get subprime APRs on his credit card debt?]
Posted by Dana Chasin
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