Author Topic: Senate permits gov't to borrow an additional $1.9T  (Read 370 times)

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Offline thundley4

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Senate permits gov't to borrow an additional $1.9T
« on: January 28, 2010, 11:34:08 AM »
Quote
WASHINGTON -- The Democratic-controlled Senate has muscled through a plan to allow the government to go a whopping $1.9 trillion deeper in debt.

The party-line 60-40 vote was successful only because Republican Sen.-elect Scott Brown has yet to be seated. Sixty votes were required to approve the increase. The measure would lift the debt ceiling to $14.3 trillion. That's about $45,000 for every American.

Democrats had to scramble to approve the plan, which means they won't have to vote on another increase until after the midterm elections this fall. To win the votes of moderate Democrats, President Barack Obama promised to appoint a special task force to come up with a plan to reduce the deficit. The House must still vote on the measure before it's sent to Obama for his signature.
WaPo

We are so screwed.