Let’s Agonize For Weeks About Cutting $30 Billion

So we can raise the debt ceiling by $2 trillion

The Obama administration has been sounding hazard warnings all year on the need to raise the U.S. debt limit, but it has yet to deliver the worst news: Congress may have to raise it by more than $2 trillion.

Neither the administration nor lawmakers in Congress want to talk about it, but an increase of at least $1 trillion is needed to keep the government running through the end of the fiscal year on Sept. 30, an analysis of deficit forecasts and U.S. Treasury borrowing needs shows.

To last until the November 2012 presidential election, the increase would need to be well over $2 trillion.

These people are not serious about the level of what we face.

One Response to “Let’s Agonize For Weeks About Cutting $30 Billion”

1. Kathy Kinsley says:

   April 8, 2011 at 7:49 pm

   We’re in deep ****. And neither side is truly serious.