All Commentary
Tuesday, August 2, 2011

Senate Approves, Obama Signs Debt Ceiling Increase


“The Senate voted Tuesday to raise the government’s debt ceiling and cut trillions of dollars from its spending, concluding a long and fractious partisan battle just hours before the government’s borrowing authority was set to run out. The bill, which passed 74 to 26, was immediately signed by President Obama, who took a final shot at his Republican opposition for what he called a manufactured — and avoidable — crisis.” (New York Times)

Nothing will be cut but the rate of future hoped-for increases.

FEE Timely Classic
“A $5 Trillion National Debt” by Hans F. Sennholz