Bizzarro World

Once upon a time, the Republicans were the party of fiscal conservatives and smaller government. That was one of the few things I really liked about the Repubs since I also believe in the same. Now, things have flip-flopped. Now the GOP is the party of big spending and big government and the Dems are the party of fiscal responsibility and states rights. Who wudda thunk. I am actually quite glad for this transformation. Now, the Democratic party represents almost all of my philosophies. It is socially progressive and fiscally conservative. The Republicans are the party of social regression on huge credit card spending. To my future children... Sorry... at least I voted for the other guy.

House votes to raise US debt ceiling

WASHINGTON (AFP) - The US House of Representatives voted to raise the debt ceiling by 800 billion dollars, helping Washington avoid running short of operating funds.

By a party-line vote of 208 to 204, lawmakers agreed to increase the level of the US debt to nearly 8.2 trillion dollars, the third massive debt limit increase in as many years.

The vote comes one day after the US Senate, also on a party-line vote, approved a similar measure.

Democrats in Congress have decried ballooning US debt, which they warned could reach 14.5 trillion dollars in ten years unless drastic action is taken.

"I think there must be some spiritual immorality for children who are yet unborn to come into this world with a debt on their shoulders that their parents have no idea as to how it was accumulated," Charlie Rangel, top Democrat on the House Ways and Means Committee, said this week on the eve of the vote.

"I think it's wrong for ... to have foreigners purchase our debt and then at the same time we're going to tell them what their responsibilities would be as relate to enforcing international law," Rangel continued.

"It is an economic nightmare as to what would happen if all of the people who purchase all of our bonds ever got together on anything and decided the investment just wasn't worth it.

The 800 billion dollar debt level increase is expected to cover federal spending for one year.