February 10, 2008
National Debt Clock Whirls As Politicians Dicker
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While folks in the hustings were absorbed in Super-Tuesday analysis last week, congressional leaders of both political parties hassled over President Bush’s blockbuster $3.1 trillion budget for the upcoming fiscal year.
As customary in nitpicking a president’s budget – the National Debt Clock is shrouded lest it tweak the common sense of doughty solons.
Therefore, we resort to our annual public service custom of reminding everyone that our debt clock is whirling with dizzying speed.
As we write, the deficit is
$9,243,811,352,842.91
Or, for each American citizen
$30,375.57
The national debt increases at the rate of $1.48 billion per day.
Senator Everett Dirksen
As the late Illinois Sen. Everett Dirksen liked to proclaim in sonorous syllables: “A billion here, a billion there, and pretty soon this adds up to real money!”
Readers with a strong brain-compass may watch the national clock whirl at: National Debt Clock
Useful additional information:
Budgets
Bush’s budget would make his 2002 and 2003 tax cuts permanent – on assertion these stimulate economic growth.
The War Against Terrorism in Iraq and Afghanistan are submitted separately as emergency spending.
Democrats are trying to increase the budget by another $44 billion for increases to the elderly, the disabled veterans and the unemployed.
“Rebate” checks of $600 to $1,200 to these one-hundred-million favored voters are claimed to quickly stimulate a “sagging economy.”
Yes Or No
It is not clear that the economy is sagging. The stock market has declined a bit, but this is reassuring. Federal Reserve spokesmen say the recent, record high was “too exorbitant.”
Republican senators nixed the $205 billion rebate plan by a 58-41 vote – 60 being necessary to pass. In other words, Democrat senators are not behind the plan entirely.
Eight Republican senators – four up for reelection this year – joined Democrats backing the rebate plan.
Despite the narrow defeat of the rebate plan, Senate Majority Leader Harry Reid declared he is “going to give Republicans a chance to reconsider their vote.”
Sen. Jon Kyl, the Republican “whip,” called the rebate plan “a Christmas tree package.”
He said Republicans would accept rebates for seniors and disabled veterans. However, he accused Democrats of delaying the stimulus plan for political gain by including special-interest extras.
Politics, Politics, Politics
Democratic presidential candidates Sen. Hillary Clinton, and Sen. Barack Obama, flew to Washington for the vote. Republican candidate Sen. John McCain did not vote.
Sen. Reid supported the rebate at first, then switched his vote to ‘no” on the final tally. This was a parliamentary move allowing him to call up the measure for another vote.
Republicans objected to “add-ons” such as a $14.5 billion unemployment extension for recipients whose benefits have run out, heating aid for the poor and tax breaks for renewable energy producers and coal companies.
Reid denied Republicans the right to offer changes to the proposed bill. This provoked the Republicans to mount a filibuster requiring 60 votes for approval – instead of the usual simple majority.
What’s Ahead
House Speaker Rep. Nancy Pelosi breaks with Sen. Reid. Instead, she backs a stimulus bill crafted by Treasury Secretary Henry Paulson and offered by Minority Leader John Boehner.
Pelosi declared her members are “very receptive to additions to our bill which ensure that disabled veterans and additional seniors are eligible for rebate checks.”
She also wants to deny rebates to illegal immigrants and extend unemployment benefits in a later bill.
Hang onto your hats! The presidential campaign road ahead is pocked with detours and sinkholes.
It is called the American way.
We love it.
PARTING SHOTS
Republicans and Democrats flocked to the polls on “Stupor” Tuesday to vote for presidential candidates.
Sen. Obama boasted he raised more money than Sen. Clinton borrowed from herself.
Sen. McCain – 71 years old – said not to worry about his age, and campaigned with his 95-year-old mother.
When no one would rent her a car to tour England recently – because of her age – she bought one with approval of her twin sister.
Sometimes you have to kiss a lot of frogs to find a Prince.
By Lindsey Wilger Williams, retired newspaper publisher and syndicated columnist
