Give an inch, they take a mile. Scuttlebutt is that Obama will be asking for another $1.2 Trillion debt limit hike. Actually, "asking" is the wrong word to use. Since Congress is in recess until January, this will likely happen without debate.
We are already at the point where the debt has overtaken GDP. Can we please stop the madness now? Throw them all out.
The White House plans to ask Congress by the end of the week for an increase in the government's debt ceiling to allow the United States to pay its bills on time, according to a senior Treasury Department official on Tuesday.
The approval is expected to go through without a challenge, given that Congress is in recess until later in January and the request is in line with an agreement to keep the U.S. government funded into 2013.