Spend-Crazy Republicans

Ken AshfordCongress, Economy & Jobs & Deficit, RepublicansLeave a Comment

In March, the GOP-controlled Senate voted to increase the federal debt limit by $781 billion, bringing the debt ceiling to nearly $9 trillion.

Neat trick.  If you find yourself outspending the legal limits, just change the legal limits.

And now, two months later, GOP lawmakers decided to raise it again.

A $2.7 trillion budget plan pending before the House would raise the federal debt ceiling to nearly $10 trillion, less than two months after Congress last raised the federal government’s borrowing limit.

Of course, they tried to be sneaky about it:

The provision — buried on page 121 of the 151-page budget blueprint — serves as a backdrop to congressional action this week.

Yup.  And why do they need to raise the debt ceiling again?  Because congressional Republicans want to cut taxes for the wealthy (again) and pass a half-trillion-dollar defense policy bill.

WaPo notices that this is nothing new for Repubs in Congress:

With passage of the budget, the House will have raised the federal borrowing limit by an additional $653 billion, to $9.62 trillion. It would be the fifth debt-ceiling increase in recent years, after boosts of $450 billion in 2002, a record $984 billion in 2003, $800 billion in 2004 and $653 billion in March. When Bush took office, the statutory borrowing limit stood at $5.95 trillion.

Yeah, and when he took office, Bush vowed to a balanced budget and pay off the national debt, too.