Washington D.C. to raise the federal debt of $12 trillion by $1.8 trillion

In alarming news out of Washington D.C. Democratic lawmakers will add a $1.8 trillion debt increase amendment into a must-pass military appropriations bill. Both Houses have identified the shortfalls in the federal government revenue stream and claims they need more money to operate.

This would be the point when businesses and average citizens would buckle down and cut spending in order to get by, not the federal government. What better way to ensure the $1.8 trillion money will be given to the federal government than to add the amendment to a $636.4 billion Pentagon appropriations bill that includes funds for the surge in Afghanistan.

House Majority Leader Steny Hoyer-D MD told Politico; “We’ve incurred this debt. We have to pay our bills.”

The Treasury Department reports that the current debt ceiling of $12.1 trillion is not enough to keep Washington running through 2010 and stated the $1.8 trillion increase may not be enough to get through next year.

They blame the downturn in the economy as the main reason revenues are down and borrowing is up.

While the White House rhetoric continues to play the debt concern card, lawmakers continue to play the spend card. For example, a vote expected to take place this week regarding the budget of 12 Cabinet departments included a 9-10 percent increase over last year’s budget and will cost taxpayers $446.8 billion.

While most Americans settle down and reduce spending the government continues to operate with reckless abandon.

For more stories; http://www.examiner.com/x-10317-San-Diego-County-Political-Buzz-Examiner

About thekdreport

Investigative journalist

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