Government Spending

Senate Votes to Lift the Federal Debt Limit to Almost $9 Trillion

The Senate voted Thursday to allow the national debt to swell to nearly $9 trillion, preventing a first-ever default on U.S. Treasury notes.

The bill passed by a 52-48 vote. The increase to $9 trillion represents about $30,000 for every man, woman and child in the United States. The bill now goes to President Bush for his signature.

The measure allows the government to pay for the war in Iraq and finance Medicare and other big federal programs without raising taxes. It passed hours before the House was expected to approve another $91 billion to fund the war in Iraq and provide more aid to hurricane victims.

The partisan vote also came as the Senate continued debate on a $2.8 trillion budget blueprint for the upcoming fiscal year that would produce a $359 billion deficit for the fiscal year beginning Oct. 1.

The debt limit will increase by $781 billion. It's the fourth such move increasing the debt limit by a total of $3 trillion since Bush took office five years ago.

How can we keep spending money when we are losing so much in this war and with outsourcing of our production economy? We are going to spend ourselves into oblivion.