Tuesday, May 09, 2006

Republicans to Raise Debt Ceiling AGAIN?

House Republicans are apparently hoping to sneak by a hidden provision in the Fiscal Year 2007 budget resolution that would raise the debt limit AGAIN to nearly $10 trillion. This provision, which is buried on page 121 of a 125 page document, would mark the fifth time in recent years Republicans have increased the debt-ceiling. When Bush first took office, the borrowing limit stood at $5.95 trillion - nearly half of what Republicans intend to borrow from foreign nations today.

House leaders hope to hold a vote on the budget resolution this week. I can assure you I will oppose any measure that does not attempt to reign in federal spending. Our country will go broke if we continue to spend at this rate, burdening our children and grandchildren with billions of dollars in unnecessary interest payments.