How’s this for transparency and accountability?:
In a bold but risky year-end strategy, Democrats are preparing to raise the federal debt ceiling by as much as $1.8 trillion before New Year’s rather than have to face the issue again prior to the 2010 elections. [emphasis added]
Yup, wouldn’t want voters to be thinking about how much the Democratic congress is spending too close to election time. Meanwhile, the Republican Policy Committee puts the current debt into perspective:
The Treasury has released the Monthly Treasury Statementfor November, showing a deficit over the last two months of $296.7 billion, a deficit greater than the full-year deficits in FY02 ($157.8), FY06 ($247.2), or FY07 ($160.7). The Democrats have boasted that their health care bill lowers the deficit by $130 billion over ten years according to CBO, an amount that is dwarfed by just one month of borrowing at our current pace.
