Saturday, November 20, 2004
Fat Cat Spending Continues
President Bush signed legislation on Friday raising the government's debt limit by $800 billion and clearing the way for Congress to send him an overdue $388 billion spending bill to finance most federal agencies.
The new federal borrowing cap is $8.18 trillion; that's 70 percent the size of the entire U.S. economy, and more than $2.4 trillion higher than the debt Mr. Bush inherited upon taking office in 2001.
Oh well, as long as all of Bush/Cheney's fat cat contributors and CEOS get their tax cuts, who cares if our great grandkids will inherit this enormous debt. Remember when fiscal conservatism was a value for Republicans?
CBS News | Bush Signs Debt-Limit Hike | November 19, 2004 14:53:28
