Obama Needs More Cash – Asks Congress to Raise Debt By Another $1.2 Trillion
Posted by Jim Hoft on Tuesday, December 27, 2011, 2:53 PM
Obama wants to ask Congress for another $1.2 trillion.
Flashback: Obama called Bush “unpatriotic” for raising the debt limit by $4 trillion during his eight years.
It took Obama 3 years.
And now he wants more cash.
Reuters reported:
The White House plans to ask Congress by the end of the week for an increase in the government’s debt ceiling to allow the United States to pay its bills on time, according to a senior Treasury Department official on Tuesday.
The approval is expected to go through without a challenge, given that Congress is in recess until later in January and the request is in line with an agreement to keep the U.S. government funded into 2013.
The debt is projected to fall within $100 billion of the current cap by December 30, when the United States has $82 billion in interest on its debt and payments such as Social Security coming due. President Barack Obama is expected to ask for authority to increase the borrowing limit by $1.2 trillion, part of the spending authority that was negotiated between Congress and the White House this summer.
Under the agreement struck in August during the showdown over the government’s debt limit, the cap is automatically raised unless Congress votes to block the debt-ceiling extension. Lawmakers have 15 days within receiving the request to vote, which is largely symbolic because the president can veto it and Congress would be unlikely to muster the two-thirds majority to override it. Moreover, the U.S. House of Representatives also is in recess until January 17.
For the record… Every single Senate Democrat voted against raising the debt limit in 2006.
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Tom Doniphon commented:
President “That was Then, This is Now” Obama!
Callipygian1 commented:
The picture of him on the phone… not too flattering for such a virile man.
GregInSeattle commented:
How much debt can we handle? We will have to pay the piper someday. Like Greece.
Sorry To Live in Illinois commented:
When will the madness stop? When will the right start talking about his on the campaign trail. When will the House say ENOUGH!
I really do think it is time for Boener to go.
cal rifkin commented:
SAY NO, STOP THE MADNESS!!
kato commented:
The parasites be wanting more of that Obama Money.
Patty commented:
He is delusional. And on another note, Micheal Reagan can’t believe Boehner. And he committed to one year on the Payroll and just sent in to Reid.
Pathetic. Now, Obama’s ratings are going up. The Congress is lame and Obama is gloating.
Jerry C commented:
“Yes sir! May I have another?” At least buy american taxpayers dinner before you ream us…again.
cal rifkin commented:
Approval ratings are directly ( I said Directly ) related to news coverage. And when did Congress last get a positive story on the news? Now, the prez? – that’s a different story…mindless, gullible voters will come out for the guy, and we’d better be hittin’ him hard, starting yesterday!!
Robb commented:
And the (oxy-moron alert)republican leadership will bow to the wishes of Mr Wonderful. Take that to the bank.
Blacque Jacques Shellacque commented:
Ever wonder what someone with a spending problem looks like?
One need look no farther than the current occupant of the White House.
gee! commented:
Obama’s number one goal is to destory America……..Him and Michelle need more play-money ………..for the new-year……………..just sayin
David commented:
If anyone that has any involvement in republican party strategy is reading this, please pay attention. Whenever I meet a liberal the first question I ask is ‘Do you know the size of the deficit?’ Second question is ‘Do you know how much tax revenues the Government collects? When I tell them the gravity of the situation and then explain to them proportions of military v entitlement spending, they end up shocked and I almost turn them into republican voters. THE PROBLEM IS THE AVERAGE JOE DOES NOT UNDERSTAND THE GRAVITY OF THE SITUATION AND ALL THE REPUBLICANS NEED TO DO IS TO PUT SOME ADS ON TELEVISION WITH CHARTS AND NUMBERS EXPLAINING IT
LibertyAtStake commented:
It takes money to redistribute money.
d(^_^)b
http://libertyatstake.blogspot.com/
“Because the Only Good Progressive is a Failed Progressive”
Adi commented:
I really *really* need to increase my credit card limit in order to pay my credit card debts.
And hey: I am the smartest guy on the planet.
Lightwave commented:
The Republicans agreed to this months ago. Only fools would think that Obamee would do this in the middle of campaign season.
Sadly, we elected just such fools.
Robert commented:
The Republicans are doing nothing and going along with us getting sold down the river. And it looks like they have corralled the Tea Party new Congresscritters into the system.
We also have no strategy or ideas coming out from any Tea Party outlets. I guess a few Town Hall gripe sessions and a couple of rallies was all it took to get it out of our systems.
bigL commented:
It would take a human, counting 1…2…3…like that, 32,000 years to count to a trillion. Trillion as a measurement was used to estimate star distances, not U.S.budgets.
There is no excuse for approving this. I think if the choice is approve more movey,even a dime, or shutting the govt down, then the govt should be shut.
I think the WH should be shut whle the Obamas are gone and the EOB. Send everyone home til he returns.Any absence more than a week is a shut down of the WH and the EOB.Lights off, just minimal heat to preserve the antiques
There is no reasonable plan that McConnell, Boehner and Cantor can promote that can encompass the raising of the debt ceiling and spending anymore money.
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