http://www.washingtonpost.com/ac2/wp-dyn/A60963-2004Nov18?language=printer"The strict rules that once limited tax cuts and entitlement spending increases lapsed two years ago. Limits on spending lost their teeth. This year, Congress failed to pass a budget altogether.
Last night, with the federal government warning that it was on the verge of defaulting on its debts, the House rejected efforts to reimpose restrictions on tax cuts and spending, then joined the Senate to raise the federal debt limit by $800 billion, to $8.18 trillion."
They must raise the limit to keep us from defaulting on our debts, it seems. Those Republicans, they really love small government, don't they.
They did it again in December 2005:
http://www.washingtonpost.com/wp-dyn/content/article/2005/12/29/AR2005122901520.htmlAnd again, now:
http://www.ombwatch.org/article/blogs/entry/1432/2"Tuesday, January 10, 2006
Congress to Increase Debt Limit for Fourth Time In Four Years
Last April Congress called for an increase in the debt limit -- the national debt is expected to hit $8,184 billion in mid-February -- however they have yet to act. Lawmakers are expected to take up the issue in February after voting on final tax and budget reconciliation bills, marking the fourth time during President Bush's presidency the debt limit has needed to be raised. In a recent letter to Congress, Secretary of the Treasury John Snow said that unless the debt ceiling is raised by mid-March, "we will be unable to continue to finance government operations."
Another source said that Bush has increased the debt by 51%.