What are the Democrats doing in DC?
Posted by Mike Sylvester - 10/15/08 @ 11:24 pm - Filed Under 2008 National Elections, National Politics
I am sure most of you remember how the Democratic Party ran on a National platform of fiscal responsibility in 2006. They promised to restore fiscal discipline in Washington DC and reign in the out of control spending in Washington DC. The Democrats have been in control of Congress for the last two years…
Well, they lied.
On September 30th, 2006 (End of the Federal fiscal year) the Federal Debt on a cash basis was 8.7 trillion dollars. On September 30th, 2008 the Federal Debt on a cash basis was 10 trillion dollars.
Under the stewardship of the Democrats the debt has increased by 1.3 trillion dollars in just two years. When the Democrats took power in 2006 they almost immediately instituted “pay as you go” rules that force spending increases to be paid for with revenue increases.
That being said, the Democrats frequently suspend these rules when it is “important.”
Nancy Pelosi is currently considering a second economic stimulus package that would cost the taxpayers 300 billion dollars. Amazingly enough part of her plan includes a tax cut. (I though she hated tax cuts?)
With the bail out bills that were recently passed the Federal debt will likely increase by between 500 billion and one trillion dollars depending on several factors this next year.
What happened to the Democrats and their campaign promise of 2006?
Mike Sylvester
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