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Congress to Vote Itself an Increased Credit Line


By Brian Altenhofel - Posted on 21 January 2010

 Don't you wish you had this option? Get closer to maxing out your available credit, so you give yourself a higher limit?  That is exactly what Congress just proposed.  As the national debt nears it's cap of $12.4 Trillion, Congress wants to increase how much it can borrow to $14.3 Trillion... an increase of $1.9 Trillion dollars.

Only a decade ago the entire Federal government operated on less than $1.9 Trillion.  Obama's deficit last year was $1.4 Trillion.  That means Uncle Sam had to borrow $1.4 Trillion just to function.  Here's what that looks like: $1,400,000,000,000.  When you look at a number that big, then the $100,000,000 ($100 Million, $0.1 Billion, $0.0001 Trillion) that they borrowed to send as "relief" to Haiti doesn't look so bad.

Don't you wish you could avoid defaulting on your debts by saying "oh... I'm too far in the hole with the loan sharks!  I'd better give myself a higher limit on what I can borrow!"  Imbeciles.

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