One of the aspects I love about the current Neocon Republican political timing results from their shortsightedness. Too late they realized they could not pass a Budget bound to exceed the existing Debt Ceiling limit within the Budgetary Year under review. They would violate previous existing law, therefore, the quick scamper to raise the Debt Ceiling prior to passage of the new Budget. Was the Debt Ceiling limit raised to a level able to accomodate Bush Spending patterns throughout the rest of his Presidency? The Answer is No!
Much has been said about the Debt Ceiling--Everyone in America now owes $30,000 apiece--We have that second mortgage We always wanted, but the Federal Government has already spent the Money; time to work on the third mortgage. The Bush administration has already raised the Debt ceiling by $3 trillion, and is obviously not done yet. The House has already passed another $78 bn for the Iraq War which would never cost $100 bn.; another sidepiece, violence in Iraq now is far worse now per month and Year, than it ever was under the Baathist regime of Saddam--except for the Iran-Iraq War, with Iran currently desiring to talk with the U.S. about Iraq (the hyperbole can demoralize). The Israelis are currently out in force, and will shortly be asking for more American aid.
My Question must be: Can the Federal Government file for Bankruptcy under Chapter 11? I don't think the American People can afford the rest of the Bush administration. You may think you have heard the worst of the bad News, but you should check with the IRS about what Republican Tax law is doing to collected Tax revenues. What is wrong about Tax revenues shrinking with expansion of the Economy? I believe I may have used up most of my bile and invective, but do not be surpised to hear hissing and howls from this Corner. lgl