Senate approves raising federal debt limit to $14.3 trillion

I just talked about this in another post and I want to give everyone that reads this a little wake up call and a warning. The spending is hideously out of control. It's at record levels and the deficit is growing beyond comprehension. Bush started it but Obama has elevated it to the level of insanity. It is no longer just a question of mortgaging our children's future. We're destroying their future completely. We're almost at the tipping point where the debt will be totally unmanageable. The interest on the debt will increase exponentially and we won't be able to print money fast enough to keep up. The dollar will be worthless. Just think about it. Do you know how much a trillion is? If you spent 1 million dollars every DAY since Jesus was born, you still wouldn't have spent a trillion dollars. THINK ABOUT THAT. A million dollars every day for over 2000 years and it still doesn't equal a trillion. Obama's budget outspends what the government makes by over a trillion dollars. The total debt is over 14 trillion dollars and growing. How could we ever hope to pay that off? Can you imagine what's going to happen when interest rates start to rise? And you know they will. Have you ever tried to figure out how much the interest is on 14 trillion dollars? And they want to raise the debt limit. And then a few months down the road, they will want to raise it again. They think that's the answer. They think it's ok to spend money they don't have and go farther in debt if they just put the mark a little higher on paper and have the president sign it. Are they just insane? They are going to crash our economy and wreck this country. A lot of people will laugh or scoff and think I'm crazy for saying that. They'll think it can't happen or it just won't happen, but don't kid yourself, it CAN happen. Let me ask you all a question. If you spend more money than you make and you find yourself so far in debt that you can't even keep up with paying the minimums on your credit cards and they're foreclosing on your house, what do you do? You go bankrupt, right? So what do you think is going to happen to our country if our government keeps spending more than it makes and we keep going farther and farther in debt? A country CAN go bankrupt. You think the market crash of 2007/2008 was bad? You ain't seen nothing yet.

I was just about to say the same thing. Once again a politician says all kinds of things to make himself look good, takes credit for everything going well, whether his policies have anything to do with it or not, and blames someone else for his shortcomings. All that he has to do is sign the spending bill, and the hypocrisy of his speech will be complete. The 2010 elections can not come soon enough for a big chunk of American voters.

Another LIE! They need to put freeze on al the bail outs that went on last year back then! The government needed to stay out of other peoples business. Now did you see where the CEO of Bof A is the head of his I think it said money matters? Cant think of the word Iwant right now darn!

It's not really a freeze. It's like me spending ten times more than my income then promising my creditors that I will freeze that spending next year--I won't cut down my spending money I don't have, but I won't spend more than ten times my income. This is just something to pacify the people. He thinks we are stupid.

what i can not understand here is why should the government, especially the US government, to borrow money, when what we know is that this government is rich. even the philippine government, a senator had told that there are trillions of pesos in the government treasury. and still, they have to borrow funds from other countries or entities. why?

Sad, isn't it? So much of this is the feeling that the governemnt and debt won't explode on MY watch... just have to raise the ceiling a LITTLe bit more...

The freeze does not exist. I do not think as a nation we will ever get out of debt. It is frightening.

I find it funny how many of those 39 republican Senators were in office when their president was spending like a drunken sailor from 2004 to 2006 with their "MANDATE" given to them by voters. Funny how times have changed for them.

Obama said the freeze would not go into effect until 2011. That would be next year. Which leaves them free to spend all they want til then. Plus we don't know if they freeze will even go into effect. Obama wants it...but alot of our elected officials in the house and congress on both sides don't like the idea...so Obama may want a freeze but he may not get it. They just keep digging us deeper and deeper into debt. The next generation has every right to hate us and them for doing this to them. They will be paying for it.

Not to sound like a parrot here, but what happened to the freeze on government spending? I guess that was kinda like healthcare reform: They'll tell us all it's urgent and needs to get done, but in actuality it won't even be touched until years down the road.