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View Diary: Aides say GOP will cast debt limit vote to prove it's willing to shoot the hostage (57 comments)

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  •  House GOP Already Voted for $2T Increase In Debt (0+ / 0-)

    So why is it they would oppose increasing the limit to allow for the debt they've already said they would approve?

    Under estimates made prior to the compromise on the FY2011 Budget, the federal government will have to issue an additional $738 billion in debt on net above the current statutory limit of $14,294 billionto finance all obligations for the remainder of FY2011.*  

    (Given the minimal actual changes for FY 2011 currently projected from that 'compromise', that number should not be significantly changed.)

    According to the figures provided in the House Budget Committee report (H.Rept. 112-58) accompanying the House FY2012 Budget Resolution (H.Con.Res. 34) passed by the House (with no Democratic votes) on April 15, 2011, the debt subject to limit is projected to rise to $16,204 billion at the end of FY2012.* and *

    So they House Republicans have already voted for measures that will increase the required national debt from $14,294 to $16,204 (an increase of $1.910 Trillion).  

    And they think refusing to vote to increase the national debt limit by $2 Trillion, to match the increased debt they've already said they favor will be seen as a 'good thing'?

    So first they were 'for it' and now when playing political games with it threatens to destabilize the global financial system, they're suddenly "against it?????

    That's not 'conservative', that's just foolishly, selfishly, dangerously partisan.

    * CRS   Reaching the Debt Limit: Background andPotential Effects on Government Operations  April 27, 2011  Pg 15/23 and Pg 16/23

    *
    CONCURRENT RESOLUTIONON THE BUDGET—FISCAL YEAR 2012R E P O R TOF THECOMMITTEE ON THE BUDGETHOUSE OF REPRESENTATIVESTO ACCOMPANYH. Con. Res. 34
    Table 1 (pg 38/206)

    We'd rather dream the American Dream than fight to live it or to give it to our kids. What a shame. What an awful, awful shame.

    by Into The Woods on Tue May 24, 2011 at 12:17:59 PM PDT

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