Academic

VERONIQUE DE RUGY: The Government?s Endless Appetite for Spending: It?s time for Congress to go co?

By Glenn Reynolds

VERONIQUE DE RUGY: The Government’s Endless Appetite for Spending: It’s time for Congress to go cold turkey. “Democrats proposed allowing the federal government to borrow an additional $1.9 trillion to pay its bills, a record increase that would permit the national debt to reach $14.3 trillion (roughly the size of our GDP) to support the federal government’s borrowing through 2010. Since they have been in full control of the federal purse strings, Democrats have spent a lot of money and got the country into a lot of debt. Hence the two consecutive increases of the debt limit in 3 months. And they aren?t the only ones. According to the Office of Management and Budget, the federal debt limit has been increased 98 times since 1940?more than once a year on average.”

Full post as published by Instapundit.com on January 22, 2010 (boomark / email).