Time to drop the notion that Repubs are "fiscallly responsible". They have proven themselves anything but.
March 16 (Bloomberg) -- The U.S. Congress approved a $781 billion increase in the federal government's debt limit, the fourth time lawmakers have raised the cap since President George W. Bush took office.
The Senate voted 52-48 to increase the legal limit on federal borrowing to $8.97 trillion, up from $8.18 trillion. The House approved the measure last year, meaning the legislation now goes to the president for his signature.
The increase was approved about 30 minutes after the Treasury postponed the scheduled announcement of the sale of three-month and six-month Treasury bills. Treasury Secretary John Snow warned Congress in increasingly dire terms that the government couldn't continue to pay its bills, and risked defaulting on its obligations, without an immediate increase in the debt ceiling.
The government will spend $217 billion on interest on the debt this year, according to the Congressional Budget Office. By contrast, federal spending for the Department of Education is $83 billion.
Wheeeee! By the way, all Democrats and three Pubs voted against this. Makes me wonder what would've happened had it not passed. I probably don't want to know.
Anyway- turning to Republicans at the state level- here's a great editorial that appeared in the Flint Journal.
If Republican lawmakers vote to eliminate the state's main business tax without simultaneously replacing the lost revenue, they should immediately give up their pay and benefits.
That's the least such an irresponsible act would call for, as it would be akin to a child failing to do his chores, yet expecting an allowance.
Republicans know the state can't afford to dump $1.9 billion annually from state coffers - the amount the Single Business Tax brings in - without releasing inmates from prison, throwing elderly people out of nursing homes and jacking up college tuition. But these concerns are secondary to the politics the GOP wants to play, both to make life difficult for a Democratic governor in an election year and to satisfy certain constituencies.
Granted, the SBT is a bad tax that hurts the state's business climate, but this is a problem serious adults can fix without jeopardizing vital state programs. Regrettably, Republicans aren't up to this. Bankrupt of any good ideas, they've passed a bill out of a House committee that would repeal the SBT at the end of 2007. The full House may OK it this week and send it to the Senate.
These manufactured dramatics put the state's well-being at risk and result from the simple fact that GOP lawmakers aren't up to the job. Why, then, should they expect to be paid?
Republicans can't be trusted with your money.