Tuesday, December 27, 2011
President Obama needs a new credit card limit, and this one is going to be about $1.2 billion higher than the last one.
He will be asking Congress by the end of the week to increase the debt ceiling from $15.194 trillion to $16.394 trillion. Presumably, he'll phone it in from the golf course in Hawaii.
Since they're in recess until later in January, the White House expects to get the approval of Congress without a challenge.
When you look at all the money that's been squandered on a bogus stimulus to reward the president's political allies,on auto company bail outs to benefit the unions,on green energy scams that only benefited the president's campaign donors, when you look at President Obama's use of signing statements to avoid cutting spending eve when Congress mandates it, it's amazing to me that Congress doesn't redeem itself by standing up,saying no and demanding that the president do what millions of other Americans are being forced to do thanks to his mismanagement of the economy - cut spending and get expense more in line with revenues.
It's probably too much to expect him to actually take measures to grow the economy, but atleast you'd think they would stand firm on that much.