When Congressional Democrats last week pushed to lift the U.S. federal debt ceiling by nearly two trillion dollars, Republicans blasted the move as fiscally irresponsible and voiced concern over the long term consequences of a level of deficit spending not seen since World War II.
So on Monday House Majority Leader Steny Hoyer indicated that lawmakers would seek to pass a temporary borrowing limit to last through 2010.
Still, fiscal conservatives fret over what they view as runaway spending and Congress’ silence over how to deal with the growing deficit….
“We haven’t got any clear indication that there’s a strategy to control this,” said Desmond Lachman, resident fellow at the American Enterprise Institute. “We hear the Obama administration paying lip service but there is no clear indication of how to prevent the U.S. from getting into increasing debt.”
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(Xinhua): Are plans to raise U.S. debt ceiling cause for alarm?
When Congressional Democrats last week pushed to lift the U.S. federal debt ceiling by nearly two trillion dollars, Republicans blasted the move as fiscally irresponsible and voiced concern over the long term consequences of a level of deficit spending not seen since World War II.
So on Monday House Majority Leader Steny Hoyer indicated that lawmakers would seek to pass a temporary borrowing limit to last through 2010.
Still, fiscal conservatives fret over what they view as runaway spending and Congress’ silence over how to deal with the growing deficit….
“We haven’t got any clear indication that there’s a strategy to control this,” said Desmond Lachman, resident fellow at the American Enterprise Institute. “We hear the Obama administration paying lip service but there is no clear indication of how to prevent the U.S. from getting into increasing debt.”
Read it all .