Democrats Seek $1.8 Trillion Debt Hike

From Thenewamerican.com

House Majority Leader Steny H. Hoyer (D-Md.) stated on December 11 that the federal government must borrow at least $1.8 trillion more in 2010 if the United States is to avoid defaulting on its debts. This would be over and above the current $12.1 trillion national debt limit. Democrats are trying to stick together to pass a bill that would raise the federal debt ceiling to $14 trillion. By doing this now, they hope to avoid dealing with the issue closer to next year’s midterm elections.

Yet the politically unpopular move of putting the nation deeper into debt is being resisted by more than 50 moderate “Blue Dog” Democrats. They are vowing to withhold their votes unless a “pay-as-you-go” law is included in the debt-increase legislation.