U.S. Federal Debt Approaching $17 Trillion –Heritage Foundation/Twitter
(CNS News) In a speech at the Business Roundtable Headquarters in Washington on Wednesday, President Obama dismissed concerns about raising the debt ceiling by noting that its been done many times before:
“Now this debt ceiling–I just want to remind people in case you haven’t been keeping up, raising the debt ceiling which has been done over a hundred times does not increase our debt, it does not somehow promote profligacy.”
What does he think we’re stupid?
The ‘Budget Control Act’ as a result of the contentious 2011 debt ceiling debate increased the debt limit by $2.1 Trillion but has federal to rein in the key drivers of spending–Congress first place a statutory limit on the national debt in 1917 in the second Liberty Bond Act, it has been raised 13 times since 2001
More here from the Heritage Foundation
Related: Don’t Fear a Govt Shutdown –CATO
Don’t Believe Hysterics-Govt Won’t Shut Down if Debt Ceiling Not Raised
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