"There is danger from all men. The only maxim of a free government ought to be to trust no man living with
power to endanger the public liberty." - - - - John Adams

Monday, June 4, 2012

The GOP House racks up $1.59 Trillion in new Debt

Comrade Obama cannot spend one cent by himself.  He must stand on the Constitutional shoulders of the Democrat Senate and the Republican House. 

The Republican House has racked up $1.59 Trillion in new Federal debt.

  • The Constitution of the United States gives the GOP House veto power over spending and debt, but the party has done absolutely nothing for two years.
  • Under a GOP House the Federal debt has been increasing at an average pace of about $105.9 billion per month.
  • The GOP simply stands by and allows the insane spending and re-distribution of the wealth to go on and on. 

It is truly an amazing site to see.  The spineless and ball-less Republican Party hiding under their desks in the House frightened to death to take any real action to stop us from being a bankrupt Greece.  The GOP has done NOTHING.  No spending cuts, no freeze on spending, not even a freeze on hiring Federal workers.
The Republican-controlled House of Representatives, which took office in January 2011, has enacted federal spending bills under which the national debt has increased more in less than one term of Congress than in the first 97 Congresses combined.
In the fifteen months that the Republican-controlled House of Representatives--led by Speaker John Boehner--has effectively enjoyed a constitutional veto over federal spending, the federal government’s debt has increased by about $1.59 trillion reports CNS news.
  • Article 1, Section 9, Clause 7 of the Constitution says: “No Money shall be drawn from the Treasury, but in Consequence of Appropriations made by Law.” A law appropriating money cannot be enacted unless it is approved by the House.  
  • Then there is Article 1; Section 8 of the Constitution.  It states that the House has the power to borrow money (or NOT borrow money) on the credit of the United States.  
  • And don't forget Article 1, Section 7 which says "All bills for raising Revenue shall originate in the House of Representatives." 

The approximately $1.59 trillion in new debt accumulated since the Republican-controlled House gained a veto over federal spending legislation is more than the total increase in the federal debt between 1789, when the first Congress convened, and October 1984, when the 98th Congress was nearing the end of its second session.
The U.S. is on a roller coaster ride to a Greek Debt Hell and the GOP has done absolutely nothing to stop the insanity.  Does the Republican Party actually believe in anything?

On March 1, 2011, Boehner agreed to a new short-term spending deal with President Barack Obama and Democratic congressional leaders to keep the government running past the March 4, 2011 expiration of the old CR. Since March 4, 2011, federal expenditures have been carried out under a series of CRs approved by both the Republican-controlled House and the Democrat-controlled Senate and signed into law by President Obama.
At the close of business on March 4, 2011, the total federal debt was $14,182,627,184,881.03, according to the Treasury Department's Bureau of the Public Debt. At the close of business on May 31, 2012, it was 15,770,685,085,364.14. That is an increase of $1,588,057,900,483.11—in just 15 months.
All of the debt accumulated by the federal government throughout the history of the country did not exceed $1.588 trillion until October 1984.
Under the Republican-controlled House, the federal debt has been increasing at an average pace of about $105.9 billion per month.     (CNS News)

After reading the Constitution on the floor of the House for the TV audience, the GOP simply  ripped the sacred document into little pieces and let Democrats spend all the money they wanted to.

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