With the federal government irresponsibly running a staggering $12.4 trillion national debt, the obvious real need is for Congress to take action to reduce debt — not vote for a higher debt “limit,” that obviously doesn’t limit debt.
But the House of Representatives voted 217 to 212 last week to follow the Senate’s bad example to raise the legal debt “limit” by $1.9 trillion — to $14.3 trillion.
Taxes are too high, but spending is much higher. And as our nation has so much debt, with more coming, our people have to pay a huge part of our tax money just for interest on that debt. Bigger debt will depress the whole economy.
The Obama administration is pushing for a $3.8 trillion budget, that calls for about $1.6 trillion in red ink. There is no pretense of fiscal responsibility.
Since the Republicans lack congressional majority power, you might expect them to be critical. All of them voted against raising the debt limit. But some Democrats were concerned, too. Thirty-seven Democrats reasonably voted against raising the debt limit.