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Old 05-28-2010, 07:02 PM
 
Location: South Fla
9,644 posts, read 9,846,025 times
Reputation: 1942

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Congress Goes on Spending Spree, Adding $230 Billion to National Debt - ABC News

Even as Congress adjourns for a week-long Memorial Day recess without extending unemployment benefits, it concludes a three-month spending spree that has added more than $230 billion to the national debt, most of it classified as "emergency" spending.

Very Slick way to avoid Pay as you go everything is an emergency now
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Old 05-28-2010, 07:11 PM
 
2,318 posts, read 1,895,707 times
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Whats new ! They keep their insurence ,, keep their raise and make deals with foreiners to stick it to us, so this is just going on according to plan or business as usual .
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Old 05-28-2010, 07:47 PM
 
Location: Great State of Texas
86,052 posts, read 84,481,831 times
Reputation: 27720
From the OP's link..this is emergency ??? (not complete list)
Way to get around Pay-Go..why did they even bother with Pay-Go ??

- $20 billion for highway construction
- $54 million for tax breaks for TV and movie production
- $67 million in payments to Filipino World War II vets
- $15 million in aid to the Congo

But we are getting better at spending-Congress can now spend $1 trillion in as little as 6 months..also from OP's link:

"It took the federal government 206 years to hit the first trillion dollars in debt. To go from $12 trillion to $13 trillion, it took a little more than six months."
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Old 05-28-2010, 07:49 PM
 
6,902 posts, read 7,537,921 times
Reputation: 2018
Quote:
Originally Posted by HappyTexan View Post
From the OP's link..this is emergency ??? (not complete list)
Way to get around Pay-Go..why did they even bother with Pay-Go ??

- $20 billion for highway construction
- $54 million for tax breaks for TV and movie production
- $67 million in payments to Filipino World War II vets
- $15 million in aid to the Congo

wtf. I understand highway construction, I get that. But I will need to do some reading and research to understand, WHY was there a need (none that I can think of) to spend on the rest.
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Old 05-28-2010, 08:09 PM
 
2,023 posts, read 5,313,112 times
Reputation: 2004
Obama was told on Wednesday that the United States reached a point where adding new debt lowers economic growth. And it just gets worse from here.
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Old 05-28-2010, 08:24 PM
 
35,016 posts, read 39,154,953 times
Reputation: 6195
Quote:
Originally Posted by Jadex View Post
Congress Goes on Spending Spree, Adding $230 Billion to National Debt - ABC News

Even as Congress adjourns for a week-long Memorial Day recess without extending unemployment benefits, it concludes a three-month spending spree that has added more than $230 billion to the national debt, most of it classified as "emergency" spending.

Very Slick way to avoid Pay as you go everything is an emergency now
Should the emergency funding loophole be closed, or restricted?

As a knee-jerk response I'd say yes, but I dont know what the parameters are that define "emergency spending".

Obama has said from his campaign days that he would institute PAYGO and I really dont want it to be abused.
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Old 05-28-2010, 10:11 PM
 
946 posts, read 2,604,405 times
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Quote:
Originally Posted by delusianne View Post
Should the emergency funding loophole be closed, or restricted?

As a knee-jerk response I'd say yes, but I dont know what the parameters are that define "emergency spending".
In the old days it was called "living." Not real attractive, in the case of the Great Depression, but citizens were much more self-sufficient as they dealt with emergencies just as devastating as our current floods or oil spills.

All of us are addicts to government spending with the attendant "emergencies" but the payback is only being realized now. I am as guilty as any; we are experiencing conditions that demand we either change our lifestyle or change our government (and perhaps both).
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Old 05-28-2010, 10:12 PM
 
Location: Chicagoland
41,325 posts, read 44,944,793 times
Reputation: 7118
Quote:
Originally Posted by Jadex View Post
Congress Goes on Spending Spree, Adding $230 Billion to National Debt - ABC News

Even as Congress adjourns for a week-long Memorial Day recess without extending unemployment benefits, it concludes a three-month spending spree that has added more than $230 billion to the national debt, most of it classified as "emergency" spending.

Very Slick way to avoid Pay as you go everything is an emergency now
So a third stimulus. I guess that pretty confirms what everyone knows. The first two were miserable failures.
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Old 05-28-2010, 10:14 PM
 
Location: Great State of Texas
86,052 posts, read 84,481,831 times
Reputation: 27720
Quote:
Originally Posted by delusianne View Post
Should the emergency funding loophole be closed, or restricted?

As a knee-jerk response I'd say yes, but I dont know what the parameters are that define "emergency spending".

Obama has said from his campaign days that he would institute PAYGO and I really dont want it to be abused.
Emergency spending means they do not have to honor Pay-Go.
Yes, I think it's being abused as they have passed several bills that spend without accounting for payment.

$1 trillion in 6 months from this Congress.
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Old 05-28-2010, 10:14 PM
 
Location: Chicagoland
41,325 posts, read 44,944,793 times
Reputation: 7118
Quote:
All of us are addicts to government spending with the attendant "emergencies" but the payback is only being realized now. I am as guilty as any; we are experiencing conditions that demand we either change our lifestyle or change our government (and perhaps both).
Speak for yourself.

Neither my husband or myself have ever collected UE benefits, FS, welfare, disability, etc, etc, etc.

Quote:
Should the emergency funding loophole be closed, or restricted?

As a knee-jerk response I'd say yes, but I dont know what the parameters are that define "emergency spending".

Obama has said from his campaign days that he would institute PAYGO and I really dont want it to be abused.
It is being abused. It is only an "emergency" because the political ramifications for obama and the democrats are dire indeed.

They broke the pay-go rule a few weeks after they passed it into law.

Quote:
It took the federal government 206 years to hit the first trillion dollars in debt. To go from $12 trillion to $13 trillion, it took a little more than six months.
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