In February of this year, Democrats raised our nation’s debt ceiling, the statutory limit in the amount the U.S. is allowed to go into debt, to $12.1 trillion. That was a $789 billion increase over the previous debt ceiling of $11.3 trillion. However, the government spent so much money, a $1.4 trillion deficit in fiscal year 2009, the Democrats are poised to raise the debt ceiling again… by $1.8 trillion.
Maybe that $787 billion stimulus, $410 billion omnibus, and $3.5 trillion budget wasn’t such a good idea after all. Of course, there’s always the $2.5 trillion health care boondoggle to pay for at some point too.
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