14 Trillion worth
POSTED: Tuesday, January 4, 2011 - 7:45pm
UPDATED: Tuesday, January 4, 2011 - 7:46pm
Here we are $14 trillion in debt.
Happy New Year.
Congress will have to vote on raising the debt ceiling.
You ask why? They have to raise the ceiling so we can keep printing money and have room for the federal government to operate.
The National Review today reported President Obama's new economic advisor says it would be catastrophic to not raise the debt ceiling.
Well, let's take a trip in the way back machine. The Journal reports in 2006, before he was president, Barak Obama voted against raising the debt ceiling. Back then, Mr. Obama said the fact we are raising the debt ceiling is because of leadership failure. Funny how time changes everything.
He also said Washington was shifting their burden of bad choices on the backs of our children. In 2007 and 2008, Senator Obama didn't even vote on raising the ceiling.
Republican Jim DeMint says this whole deal is heading for a showdown.
We need a showdown.
That's what the last election was about.