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Did White House threaten Cory Booker for criticizing Obama’s attack ad? « Full Metal Patriot on Obama threatens to withhold Social Security checks despite sufficient funds [UPDATED] Social Security Chief Actuary exposes Obama deception
Obama to ask for ANOTHER debt limit hike of $1.2 trillion
Just like an irresponsible teenager who has run up his parents cellphone bill, Dear Leader continues to spend heedless of the consequences and is now asking the U.S. taxpayers to fork out $1.2 trillion more.
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.
The deal called for raising the debt ceiling by $2.1 trillion to serve the nation’s borrowing needs into 2013 and also included mandatory cuts to the federal budget deficit. Since then, the extension has been increased twice by a total of $900 billion.
The debt limit currently stands at $15.194 trillion and would increase to $16.394 trillion with the request. [emphasis added]
I thought the increase in the debt limit from August was supposed to prevent another borrowing increase prior to the 2012 election?
This latest request for more spending proves that this summer’s debt ceiling showdown accomplished almost nothing: there was no meaningful reduction in the debt or the deficit, there was no balanced budget amendment, there was no entitlement reform, and there were no spending caps or substantive spending cuts.
The only thing that was accomplished was yet another increase in America’s debt ceiling. And even that is not enough for President Obama.
Keep in mind, Obama has planned a $1 trillion dollar tax increase after the 2012 elections.
Posted by FullMetalPatriot
12th gen. American, Constitutionalist, Harley-riding Texan, gun owner & NRA member, blogger, illustrator, Florida Gator alumnus. #TCOT
12th gen. American, Constitutionalist, Harley-riding Texan, gun owner & NRA member, blogger, illustrator, Florida Gator alumnus. #TCOT
The chicken $hits in Congress will go along