Democrats seek debt-limit debate

[UpInArms]

http://www.marketwatch.com/News/Story/Story.aspx?guid=%7B79E37C5C%2D2D57%2D4799%2DB6E8%2DC663F259C159%7D&dist=newsfinder&symbol=&siteid=mktw

WASHINGTON (MarketWatch) -- Senators will have to vote in coming weeks to boost the federal government's debt limit in order to avoid default, setting the stage for a debate over President Bush's fiscal stewardship.

Treasury Department officials told Senate staff members that the federal government would hit its statutory borrowing limit of $8.184 trillion some time during the week of March 20, news reports said.

"We don't have any scheduled debate on this. And I don't frankly think that the leadership wants to schedule a debate on whether we should and the degree to which we should increase the federal debt," said Sen. Max Baucus of Montana, the senior Democrat on the Senate Finance Committee. "And I think the reason is pretty clear. It's because it's embarrassing."

The House has already passed a $781 billion increase in the debt limit. While the cap is almost certain to be raised, it has often made a handy tool for whichever party is in the minority to attempt to drive home criticism of the majority's fiscal policies.

"It's a vehicle for press releases but at the end of the day everybody knows you've got to do it," Senate Budget Committee Chairman Judd Gregg, R-N.H., told the Associated Press. "The only other option is to shut the government down, and nobody who's a responsible policy person is going to do that."

...more...

It's about time someone put truth to the lie about the fiscal conservatism of the freaking SPEND SPEND SPEND BORROW BORROW BORROW policies of the GOPpiggies.

[mattclearing]

1. Yeah, let's make an issue of this.

It's awful for Republicans to defend their debt policies.