posted on October 14, 2004 03:43:29 PM new
Read below yet another "HARD JOB" from Bush/Cheney.
WASHINGTON (Oct. 14) - Treasury Secretary John Snow announced Thursday that the government has begun using various accounting procedures to avoid hitting the $7.4 trillion national debt limit.
Snow made the announcement in a letter to Congress, which has not passed legislation needed to boost the government's borrowing authority, which now stands at a statutory limit of $7.4 trillion.
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''Given current projections, it is imperative that the Congress take action to increase the debt limit by mid-November,'' when ''all of our previously used prudent and legal actions to avoid breaching the statutory debt limit will be exhausted,'' Snow wrote in the letter to House and Senate leaders of both parties.
Democrats used Snow's announcement to attack the Bush administration's record budget deficits, which will force Congress to increase the debt ceiling for the third time in three years.
''Though the administration tries to diminish the gravity of the problem, there is no way to dismiss debt ceiling increases at historic highs. This is the burden Republican policies are passing onto next generations, and there is no plan or prospect for confronting it,'' said Rep. John Spratt of South Carolina, the top Democrat on the House Budget Committee.
Congress is expected to come back in a special session after the Nov. 2 elections to deal with the debt limit and pass a massive spending bill to keep the government running.
Republican leaders did not want to take up the debt issue before the election and open themselves up to Democratic attacks about the record federal budget deficits run up during President Bush's first term in office.
The government recorded a $374 billion budget deficit last year - a record in dollar terms - and projections call for this year's to be even larger, more than $400 billion, which would set a new record.
Snow said in his letter he would begin halting new investments in a retirement fund for federal workers as a way to stay under the debt limit.
posted on October 15, 2004 07:55:06 AM new
I think just getting out of bed in the morning is hard job for Bush. After all who would want to face the American people after all the things this man has screwed up during the past four years.
There's an old saying in Tennessee — I know it's in Texas, probably in Tennessee — that says, fool me once, shame on — shame on you. Fool me — you can't get fooled again." —George W. Bush, Nashville, Tenn., Sept. 17, 2002
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Let's have a BBQ, Texas style, ROAST BUSH
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On This Week with George Stephanopoulos, Defense Secretary Donald Rumsfeld declares: "the area… that coalition forces control… happens not to be the area where weapons of mass destruction were dispersed. We know where they are. They’re in the area around Tikrit and Baghdad and east, west, south and north somewhat."
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posted on October 15, 2004 08:00:48 AM new
""""Republican leaders did not want to take up the debt issue before the election and open themselves up to Democratic attacks about the record federal budget deficits run up during President Bush's first term in office."""
Cowardly slime ball Republicans, trying, as usual, to hide the truth from Americans.......
