US House backs $800 billion debt limit increase

To steal a joke from Jon Stewart, that's $800 billion. Billion with a B.

Yes, the Republicans in the House actually got this through Thursday. The Senate had done the same Wednesday. Do we need a clearer sign that the Republicans are no friend of fiscal responsibility and limited government? I'll be interested to see if anyone who still thinks they are tries to justify this.

It would make me laugh if it didn't make me angry first when I see big mouths on the right toss names around like Milton Friedman, Friedrich Hayek, and Ludwig von Mises. You don't get an $8.184 trillion credit limit for the federal government by following the advice of these economists.

Quote:

The House voted 208 to 204, largely along party lines, to support the measure, which Democrats say is necessary because of the Bush Administration's irresponsible fiscal policies.

They're onto something...

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i've often pondered when the

i've often pondered when the bond market is finally going to crack on the long end and bust out with 3 or 4 % rise in rates within months.
REAL published inflation numbers would cause a revolution amoung fixed income earners.