Thursday, February 4, 2010

Celebrating $14 trillion in debt

Republican Whip Cantor released this video today of House Democrats cheering passage of a debt increase that will green-light Congress to spend $1.9 trillion more dollars it doesn't have.

Here is Congressman Shuster's statement on the debt increase:

“Last week, President Obama went to great lengths to extol the virtues of fiscal responsibility to Congress and the American people. House Republicans like me welcomed this change in tone. Unfortunately, the message was dead on arrival in Congress.

Today, just a few short days after the State of the Union address, House Democrats voted to raise the national debt limit by $1.9 trillion–the largest single increase in our history and the third increase since the Democrats passed their failed stimulus bill.

You don’t increase the limit on a compulsive shopper’s credit card to teach fiscal responsibility. Why should we expect anything different from government? It is a self-fulfilling prophecy; if you enable government to spend more, it will spend more.

Since taking control of Congress, House and Senate Democrats have raised the debt limit a total of five times, clearing the way for a growing government to add $3.68 trillion in new debt. This profligate spending must end. Congress must move swiftly to eliminate waste and roll-back spending. The best way to start is to reject the President’s $3.83 trillion budget and keep the President and the Democrats to their promises.”

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