Thursday, January 28, 2010

Today... January 28, 2010

As I watch PBO take the campaign stump yet again in Florida to grab some limelight on sticking that first shovel in for the high speed rail project about to get underway, I'm also hopping around to see what's going on behind the scenes on this day.

Before I go into the crime against the people Dems are about to make, I also want to predict -- here and now -- what I believe will be a MASSIVE OVERRUN in costs for the high speed rail project. How much over budget will it be in the end? That's anybody's guess... I'm just saying it will be MASSIVE!!! Just my humble opinion based on all this Administration has accomplished in the way of gross spending to date.

Which brings me to the "what else was happening today" subject of this blog.

But first, a history lesson from Sen. Judd Gregg.

"It took 200 years to build the federal debt to a total of $1.9 trillion," Sen. Judd Gregg, a Republican, said. "Now the majority wants to increase the current limit ... by $1.9 trillion so that we can finance the government's borrowing binge long enough to get us past the November 2010 elections."

Well today, the Senate used every Democratic vote they had... every single one of them... to pass a $1.9 Trillion (yes, that's Trillion with a "T") increase in the nation's debt ceiling.

For the record, that puts our debt ceiling at $14.3 Trillion (according to Associated Press & Bloomberg).

The way I see it, here is the threat they used to get it passed:

"But a losing vote — the tally was scheduled for around noo (1700 GMT), when financial markets are open — could unnerve the stock market. Lawmakers in both parties have promised they will not permit a market-rattling, first-ever default on U.S. obligations."

So what happened shortly after the vote as far as the stock market? Well, I checked it shortly after the vote and the DOW was down by more than 130 points... after which it struggled for hours to creep back up.

The AP story on the subject said it was a 60 to 40 vote, but a Bloomberg story indicated it was a 60 to 39 vote.


The glaring picture here is that there were 60 VOTES IN FAVOR... ALL OF WHOM WERE DEMOCRATS!!!

And those so-called blue dogs were tossed a bone which they ate up -- a "debt commission" -- a little task force put together that would look at ways to reduce the nation's debt. Notice they are to "look" at "ways to reduce the debt" ...not actually do it ...nor actually implement anything. Nosirreee... they're just supposed to look at it.


Not a whole lotta meat on that bone, is there?

But apparently that is enough meat for these supposedly conservative blue dog democrats.

Aw-w-w-we, for crying out loud, don't crap with your BS on my front steps. There isn't a fiscally responsible one among the lot of you! You're just as drunk on spending the peoples' money as the freaking Executive branch is... but just as with alcoholism, you have to first admit you have a problem before you can deal with it and fix it.

In my personal humble opinion, they're all acting like a bunch of teens drunk on power and feeling flush with our cash... spending us all into bankruptcy.

I say we take their freaking Platinum embossed Federal Credit Card away from them until they learn how to be fiscally responsible with our money.

What say you?


Bloomberg: Senate Votes to Increase Federal Debt Limit by $1.9 Trillion

AP Story (via Yahoo!): Senate permits gov't to borrow an additional $1.9T

And for a little history, here is a story on last month's increase on December 24, 2010 -- Congress raises debt ceiling to $12.4 trillion

PS: Did you miss me?

No comments: