Obama on Dec 30th, granted lawmakers request to postpone the decision to raise the debt ceiling 1.2 Trillion dollars so they would be in session during the 15-day period allowed for objections. Under an agreement negotiated between Congress and the White House this past summer, Congress has 15 days to vote on a resolution of disapproval for the debt limit hike once Obama submits the notification, but the president would be able to veto any such vote.
Democrats and Republicans fought all summer over the best way to control the country’s debt and deficit and even created a “Special Committee” of the wisest of the wise to “fix” what ails this economy and no surprise, they accomplished nothing. Now, under the August deal, the borrowing cap is raised automatically unless Congress can muster a two-thirds majority in both chambers to block the extension. Of, course this won’t happen so, “pop goes the weasel” another debt increase.
However something good can come of this if we get involved now, in the debate. It has been just shy of 1000 days since the United States government had a budget. It is no small wonder why the debt ceiling must be raised over and over again considering there is NOTHING TO RESTRAIN SPENDING! There is no budget and no debt limit, what do we think would happen? Do we believe Congress would exercise restraint; who are we kidding? So we must speak up now and tell them No Budget, No Debt Increase. This must be our conversation today, tomorrow and however long it takes, to right this sinking ship of fools.