Senate Majority Leader Harry Reid yet again demonstrates how his party views compromise. He is demanding to increase the debt limit by more than $1 trillion. Nothing about reducing spending. Nothing about reducing the deficit or the debt. It’s just more, more, more with these people.
Senate aides estimate the bill would increase federal borrowing authority by about $1.1 trillion.
The administration estimates the nation will hit the upper bounds of its $16.7 trillion debt ceiling on Oct. 17, although in recent days experts have said that deadline may be flexible.
Senate Republican Leader Mitch McConnell (Ky.) blasted Reid’s proposal for not including any spending reform.
“What he proposes is to raise the debt limit by $1 trillion, but not do anything about the debt,” McConnell said. “Not a single reform to get spending under control. We’ve got a debt close to $17 trillion.
“Washington is borrowing nearly $2 billion — a day. And he’s fine with that,” he added.
In 2011, President Obama insisted the debt limit be pushed until after the 2012 election, so that he would not have to deal with it again before Election Day.
Now it is Senate Democrats who don’t want to face double jeopardy before voters decide whether they get to keep their majority. (Read More)
Wow, that’s some ransom demand. What will they come up with next?