Defending the Truth

what is a trillion dollars only to get half billion back and get control over people's life?

What is the value what is the worth???????

Hey screw the American people; send all their damn money to the Middle East.

Reuters

Congress agrees to raise U.S. credit limit

Thu Sep 27, 2007 11:21pm EDT

Senate panel okays $850 billion debt increase

By Donna Smith

WASHINGTON (Reuters) - With the U.S. government fast approaching its current $8.965 trillion credit limit, the Senate on Thursday gave final congressional approval of an $850 billion increase in U.S. borrowing authority.

The Senate voted 53-42 to raise the debt ceiling to $9.815 trillion, the fifth increase in the U.S. credit limit since President George W. Bush took office in January 2001. The U.S. House of Representatives approved the higher debt limit earlier this year as part of the overall budget resolution and the legislation now goes to Bush for his signature.

U.S. Treasury Secretary Henry Paulson commended Congress for quickly passing legislation he said "ensures the U.S. government can deliver on promises already made."

"The Senate's swift action on the debt limit today helps to protect the full faith and credit of the United States and avoids creating unnecessary uncertainty in the U.S. Treasuries market," Paulson said in a statement.

The Treasury Department had been pressing Congress to pass the debt increase quickly. Last week Paulson said the government would hit its current $8.965 trillion debt limit on October 1.

But Sen. Tom Coburn, an Oklahoma Republican, urged lawmakers to reject the debt increase and concentrate on spending cuts instead.

"Families across America don't have the luxury of loaning themselves any money when they've maxed out their credit. But that's what we're going to do," Coburn said.

Lawmakers said the $850 billion increase in borrowing authority, the second largest since Bush took office, should be enough to last the government through next year's congressional and presidential elections. U.S. debt stood at about $5.6 trillion at the start of Bush's presidency.

"Increasing the debt limit is necessary to preserve the full faith and credit of the United States of America," said Iowa Sen. Charles Grassley, the senior Republican on the Finance panel.

(Additional reporting by Richard Cowan)

In his State of the Union Message, 28 January 2003, President Bush said: "We will not deny, we will not ignore, we will not pass along our problems to other Congresses, to other presidents and other generations." So, who does he think is going to pay for all this? We all know that our posterity will be bearing the brunt of the costs. It will bear upon our children, and our children's children, and our children's children's children, and...

On the television program Adam Smith, aired 8 October 1992, Adam Smith proposed a scenario for the year 1995: "It's 1995 in America and something terrible has happened. You've lost your job. Your company has closed. They've canceled your credit cards and your bank has failed. And the money in your pocket is practically worthless. Why? Because we, the American people, allowed the national debt to go on rising and now it's out of control. ...The coming debt crisis is the one issue that politicians would rather not talk about. Collectively, they produced this terrible mess."

Interviewing two young people who have formed a coalition to prevent further damage to the economic future of the young people, one of the individuals, Rob Nelson, noted: "We're at the beginning of what could become a generational war. Our generation, those that follow us are being denied the opportunity to dream big. We're being denied the resources to invest in our future. We're being left a legacy of debt, and that is a scandal."

John Cowan, another member of the coalition, noted, concerning the present generation: "What they have done is mortgage their children's future and that's nothing less than fiscal child abuse. Four trillion dollars of debt could be $8 trillion of debt in the next 10 years. They've mortgaged our future and it's going to have to stop."

The W. R. Grace Company had aired a rather bleak outlook advertisement depicting the outcome. The scene was an abandoned factory with some bleachers set up inside. Some small children were huddled together; raggedy clothes, old worn out blankets, dirty, bleak faces. Up front was a table set up with a teen-age judge. The prosecutor was a teen-ager also. He was asking the defendant, who was an old man, the question: "And when you saw what was happening, what did you do?" The old man looked out at the children, then hung his head and said: "Nothing".

Has anything changed??? NO! Life goes on…

So the Government (REPS&DEMS) have gotten "THE AMERICAN TAXPAYERS" into
~$9,000,000,000,000.00 of Debt!? Yet "most" Americans keep fighting tooth and
nail to KEEP these same people/parties in power????

In defense of the REP-DEM Monopoly, I guess if people are stupid enough to
keep paying the checks you(REPS&DEMS) write, why stop wrighting them?

When America goes bankrupt, just remember it the REPS&DEM parties and "Voters"
that got us here!!!

As long as you keep known corrupt and incompetent people in power/control you
will suffer!!!! (It's your Vote wake up, please)



Reality check! This is your share of the US. debt:

~ 300,000,000 people in America

$9Trillion/300Million people = $30,000.00 per person!

Article on the US Embassy in Iraq, it's enormous cost overruns and building flaws, and etc.

US EMBASSY — IRAQ

Journalist Sarah Mcgregor wrote for Inter Press Service 17 February 2008:
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The United States, Tanzania's largest donor, will contribute 662 million dollars to the East African nation this year, according to a fact sheet supplied by the U.S. embassy.
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So, we borrow $662 million from China to give to Tanzania. And our children, and grand children will have to pay this all back, with interest.

Doncha just luv it...