TAXPAYER ALERT: Treasury Official Says Obama Will Ask Congress for ANOTHER Debt Ceiling Increase

Going to ask for $1.2T.

New post on Scotty Starnes's Blog TAXPAYER ALERT: Treasury Official Says Obama Will Ask Congress for ANOTHER Debt Ceiling Increase by Scotty Starnes Is he serious? Obama wants to spend another $1.2 trillion while Congress is in recess. What happened to his promise about cutting the deficit in half by the end of his first term? This will be Obama's second call for a debt ceiling hike. I wonder how the credit downgrade happened? WASHINGTON (Reuters) - The White House plans to ask Congressby 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. It will be more next year thanks to those payroll tax cuts which take revenue away from Social Security. Obama and Congress fail to mention this to the taxpayers and Seniors. ...The debt limit currently stands at $15.194 trillion and would increase to $16.394 trillion with the request. Translation. Obama has added $6 trillion to the national debt in just 3 years. Bush added $4 trillion in 8 years. Obama is the problem and the taxpayers can't afford four more years of his spread the wealth agenda. Continue reading>>> Scotty Starnes | December 27, 2011 at 12:43 PM | Tags: Congress, debt ceiling, national debt, President Obama, Treasury Department | Categories: Political Issues | URL: http://wp.me/pvnFC-6hv Comment    See all comments Unsubscribe or change your email settings at Manage Subscriptions. Trouble clicking? Copy and paste this URL into your browser: http://scottystarnes.wordpress.com/2011/12/27/taxpayer-alert-treasury-official-says-obama-will-ask-congress-for-another-debt-ceiling-increase/ Thanks for flying with WordPress.com

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