Spendaholics: Dingy Harry Wants $1.1 Trillion Debt Limit Increase
This should tell you where Democrat priorities lie. Harry Reid surely consulted with Obama on this, regardless of Team Obama saying they’re open to a short term debt extension
(The Hill) Senate Majority Leader Harry Reid (D-Nev.) is moving legislation to push the debt limit until Dec. 31, 2014, well beyond next year’s midterm election.
Senate aides estimate the bill would increase federal borrowing authority by about $1.1 trillion.
The administration estimates the nation will hit the upper bounds of its $16.7 trillion debt ceiling on Oct. 17, although in recent days experts have said that deadline may be flexible.
Senate Republican Leader Mitch McConnell (Ky.) blasted Reid’s proposal for not including any spending reform.
“What he proposes is to raise the debt limit by $1 trillion, but not do anything about the debt,” McConnell said. “Not a single reform to get spending under control. We’ve got a debt close to $17 trillion.
We’ve seen the debt explode by over $6 trillion under the stewardship of Mr. Obama. Obama once said, during the Neverending Campaign period before he was elected in 2008, that adding $4 trillion in debt was “unpatriotic” and “irresponsible”. The debt went up $4.899 trillion during Bush’s 8 years, not something to be proud of. With Reid’s proposal, Obama would be adding well over $7 trillion. It stood at $10.626 trillion. It’s almost $17 trillion today.
And, yet, Reid also offered zero reforms, and surely no cuts. As Mark Steyn says, we’re the brokeyest broke nation in history.