Captain Rick: The U.S. Senate gave its approval to raise the nation’s debt ceiling to $17.2 Trillion, allowing the government to continue spending like ‘drunkards’ by borrowing more money to pay its bills through March 2015.

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The politically charged issue cleared the chamber 55-43 after winning House approval Tuesday. The measure now goes to ‘debt loving’ President Barack Obama for his guaranteed signature. Approval removes the prospect of another protracted political fight over fiscal policy as Democrats and Republicans gear up for November’s midterm elections. How politically convenient is this?
It was a ‘clean’ bill…meaning there were no strings attached that would mandate new spending cuts. It gives approval to continue spending like ‘there is no tomorrow’. Our representatives in DC have kicked America’s ‘debt can’ down the road again for the N’th time. How much farther can it be kicked? I suspect…not much.

I wonder with dismay as to how Americans can stand for this total disregard of fiscal common sense? How can Americans continue to elect such fiscally reckless representatives to the U.S. Legislature. I see this tragic event bringing America one step closer to the edge of the real ‘fiscal cliff’. At the bottom…I envision America as a ‘third world country.’

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Interesting ATRIDIM NEWS JOURNAL Report Categories:

U.S. Debt Crisis

Fed Financial Policy

Economy

Captain Rick’s Fiscal Cliff Course 101

President Obama

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