They quadrupled our debt and tripled our deficit in the first six months. Now they want Congress to raise our debt ceiling.
U.S. Treasury Secretary Timothy Geithner asked Congress to increase the $12.1 trillion debt limit on Friday, saying it is “critically important” that they act in the next two months.
Mr. Geithner, in a letter to U.S. lawmakers, said that the Treasury projects that the current debt limit could be reached as early mid-October. Increasing the limit is important to instilling confidence in global investors, Mr. Geithner said.
They are out of control and they have no sense or reason. They want to start a new $1.6 trillion entitlement when the costs are grossly underestimated. No program ever come sin on budget. (See Cash for Clunkers).
Obama makes Carter look like Reagan.