U.S. Debt Rising $1.36 Billion Daily

Admin Posts : 75 Join date : 2007-09-18

Quote :: On a 53-42 vote Thursday night, the Senate gave final approval — the fifth time since 2001 — to raise the debt limit, increasing it by $850 billion to $9.815 trillion.

That’s $9,815,000,000,000.

Finance Chairman Max Baucus said Congress had to pay its bills for basic services and needed the credit.

“We have increased the debt in the last 10 years by 50 percent,” responds Oklahoma Republican Sen. Tom Coburn, who voted against a higher ceiling. “American families don’t have the luxury Congress has. They can’t get a new loan or new credit cards after they have maxed out their capability to borrow. Yet instead, every day in this body we do essentially that.”