Lounge of Tomorrow - View Single Post - Housing-rescue bill with interesting addition...

Morrigoon · 07-25-2008, 01:22 PM

http://www.msnbc.msn.com/id/25812594/

The terms of the housing-rescue stuff sound good, but I found it pretty interesting that they added this little bit to it:

"And it increases the statutory limit on the national debt by $800 billion, to $10.6 trillion."

and...

"It also counts any federal infusion for the mortgage giants under the debt limit, essentially capping how much the government could spend to stabilize the companies without further approval from Congress. As of Tuesday, the national debt that counts toward the limit stood at about $9.5 trillion, roughly $360 billion below the statutory ceiling."

I wonder what else gets to count under that "national debt increase"? Hmm... no wonder the White House dropped its objection.

07-25-2008, 01:22 PM	#1
Morrigoon I throw stones at houses Join Date: Jan 2005 Location: Location: Location Posts: 9,534	Housing-rescue bill with interesting addition... http://www.msnbc.msn.com/id/25812594/ The terms of the housing-rescue stuff sound good, but I found it pretty interesting that they added this little bit to it: "And it increases the statutory limit on the national debt by $800 billion, to $10.6 trillion." and... "It also counts any federal infusion for the mortgage giants under the debt limit, essentially capping how much the government could spend to stabilize the companies without further approval from Congress. As of Tuesday, the national debt that counts toward the limit stood at about $9.5 trillion, roughly $360 billion below the statutory ceiling." I wonder what else gets to count under that "national debt increase"? Hmm... no wonder the White House dropped its objection. __________________ http://bash.org/?top "It is useless for sheep to pass a resolution in favor of vegetarianism while wolves remain of a different opinion." -- William Randolph Inge
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