THis is how you control the economy when you do not want to do something aqbout thye uncontrolled spending of the country.


WASHINGTON (Reuters) - With the U.S. government fast approaching its current $8.965 trillion credit limit, the Senate on Thursday gave final congressional approval of an $850 billion increase in U.S. borrowing authority.

The Senate voted 53-42 to raise the debt ceiling to $9.815 trillion, the fifth increase in the U.S. credit limit since President George W. Bush took office in January 2001. The U.S. House of Representatives approved the higher debt limit earlier this year as part of the overall budget resolution and the legislation now goes to Bush for his signature.

U.S. Treasury Secretary Henry Paulson commended Congress for quickly passing legislation he said "ensures the U.S. government can deliver on promises already made."


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I knew that was going to happen. There isn't a politician in Washington that is willing to curb spending.

I agree this came as NO surprise to anyone that has been getting a bit of news. I laugh because I recall the speeches about the uncontrolled spending of the Dems. in the election of 2000.