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Congress and the White House are nearing a deal that would raise the debt ceiling until March of 2017 and set the federal budget for the next two years.
"The agreement is not yet final, as negotiators still need to settle a dispute over controversial policy riders, but congressional leaders hope to announce something Monday evening, according to a Senate source. The deal would cover the 2016 and 2017 fiscal years."
The fact that we are here today to debate raising America's debt limit is a sign of leadership failure.
It is a sign that the U.S. Government can't pay its own bills. It is a sign that we now depend on ongoing financial assistance from foreign countries to finance our Government's reckless fiscal policies. Over the past 5 years, our federal debt has increased by $3.5 trillion to $8.6 trillion. That is "trillion" with a "T." That is money that we have borrowed from the Social Security trust fund, borrowed from China and Japan, borrowed from American taxpayers. And over the next 5 years, between now and 2011, the President’s budget will increase the debt by almost another $3.5 trillion.
I heard something on POTUS radio yesterday that this reminds me of: In recent years, there have been too many politicians running for office, and not enough statesmen.
It looks like it is a true compromise. It would extend the debt ceiling to March 2017 and remove the limits sent by the sequestration.
"It would raise those caps by a total of $112 billion in fiscal 2016 and 2017, according to a person briefed on the agreement. Those funds would be divided equally between defense and non-defense spending, charting a compromise between Republican defense hawks pushing for more Pentagon spending and Democrats who wanted more spending on domestic programs as well."
When they "compromise", it means we're REALLY screwed!
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