Wednesday, December 28, 2011

Barack Obama and the Economy - #3525 - VIDEO: Obama to Ask for Debt Limit Hike: Treasury Official - Reuters (2) New American Crossroads Ad: A Salute to the 4th Greatest President in American History - Hot Air

The White House plans to ask Congress by the end of the week for an increase in the government's debt ceiling to allow the United States to pay its bills on time, according to a senior Treasury Department official on Tuesday. The approval is expected to go through without a challenge, given that Congress is in recess until later in January and the request is in line with an agreement to keep the U.S. government funded into 2013. The debt is projected to fall within $100 billion of the current cap by December 30, when the United States has $82 billion in interest on its debt and payments such as Social Security coming due. President Barack Obama is expected to ask for authority to increase the borrowing limit by $1.2 trillion, part of the spending authority that was negotiated between Congress and the White House this summer. Read more........

New American Crosroads Ad: A Salute to the 4th Greatest President in American History - Hot 
Air - 106,521 views - C’mon. Fourth behind LBJ? The guy who set us on the road to fiscal ruin by passing America’s first unsustainable health-care entitlement and ended up sinking us deep into Vietnam? The One’s number three at least, with room to grow. What happens when unemployment falls to “only” eight percent? Watch your back, Franklin Roosevelt.  Beneath that, via RCP, some yuletide fun tracking O as he does his Christmas shopping. The magic moment comes at around 2:35 when he goes to the register, whips out his credit card, and wonders aloud whether it’s still good anymore. Thanks for the free national debt/S and P downgrade attack ad, champ. 

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