**Written by Doug Powers
The government needs to borrow another $1.2 trillion so they can continue to protect us from bankruptcy. Predictably, the White House tried to get this done on the Friday afternoon heading into a holiday weekend, but circumstances prevented it from happening:
HONOLULU (AP) — President Barack Obama is delaying his request for another $1.2 trillion increase in the nation’s debt limit at the request of congressional leaders.
It’s basically because of a technicality.
The White House had been ready to ask for the increase Friday because the government is within $100 billion of exhausting its current borrowing authority. Congress would then have 15 days to reject the request, though Obama would veto any objections in order to ensure that the government does not default on its obligations.
But with Congress not due to return to Washington until mid-January, lawmakers asked Obama to delay his request so they would be in session during the 15-day period allowed for objections.
“The administration is in discussions with leaders in both houses to determine the best timing for submission of certification and any subsequent votes in the two houses,” White House spokesman Josh Earnest said Friday.
Another $1.2 trillion — almost $4,000 for every single American citizen. Is this request coming from the same administration that recently asked for stories about how important forty dollars is to each of us?
In that same AP story we’re also reminded that this is all still pretty much Bush’s fault:
The debt limit is the amount the government can borrow to finance its operations. It has soared because the government has run record deficits over the past decade. The borrowed money has helped pay for two wars, stimulate the nation’s economy after the worst recession since the Great Depression and keep intact broad tax cuts initiated during the Bush administration.
When Congress comes back next month they’ll want to tread cautiously. They’re rockin’ a five percent “good or better” rating and wouldn’t want to do anything to harm it.
We close with the obligatory debt ceiling increase clip:
**Written by Doug Powers
Twitter @ThePowersThatBeblog comments powered by Disqus
September 19, 2012 05:05 PM by Doug Powers
August 14, 2012 03:00 PM by Doug Powers
November 9, 2012 11:24 AM by Doug Powers
January 13, 2013 11:34 AM by Doug Powers
May 24, 2012 04:33 PM by Doug Powers
Gay Patriot» Did the IRS act progressive groups the same kind of intrusive questions they asked of Tea Party groups? (And if not, why not?)
Gay Patriot» Meanwhile, at Obama’s EPA. . .
Daily Caller» Wyo. student who threatened to rape self on Facebook was convicted of assault
Green Room» New liberal idea: Let’s raise $660 million online in a month to buy the LA Times before the Koch brothers can
Daily Caller» David Brooks: ‘We as a country have become over-addicted to scandal’
Gay Patriot» Jesus, on tax collectors
Daily Caller» Bill Maher: GOP guilty of ‘treason’; Michael Moore: ‘They hate America’
Green Room» Feelgood video of the day