United Liberty

As expected, Democrats in the Senate are pushing another increase in the ceiling for the national debt:

Senate Democrats on Wednesday proposed allowing the federal government to borrow an additional $1.9 trillion to pay its bills, a record increase that would permit the national debt to reach $14.3 trillion.

The unpopular legislation is needed to allow the federal government to issue bonds to fund programs and prevent a first-time default on obligations. It promises to be a challenging debate for Democrats who, as the party in power, hold the responsibility for passing the legislation.

This would be the second increase in the debt ceiling in a month. You may recall that on Christmas Eve, the Senate approved a $290 billion increase in the nation’s borrowing limit.

By the way, the article notes that just 10 years ago, $1.9 trillion would have been enough to run the government for a year. How’s that for perspective.