Debt Limit Hot Topic Day 1

One day after we reported the sky was falling it turns out we are not the only one that think so. We are happy to say the House Republicans told the White House the request to raise the nation’s $14.3 trillion debt limit will require federal spending cuts to win their approval. We are hopeful Speaker of the House Boehner, can stick to his guns and cut government spending by at least $100 billion this year. Treasury Secretary Tim Geithner, has said the government could exhaust its borrowing authority of $14.29 trillion between March 31 and May 16. The new Republican Pledge to America, is the document the new House Republican candidates signed promised to pare most non-defense programs by $100 billion, the amount they said had been added since Obama took office. We love hearing congress talking about spending cuts and reforming a broken budget process we just hope this time it is more than words. We have stated many times that why our government continues to write checks it cannot cash is no way to run a country and if a citizen did it they would be arrested. It is time to make the hard choices and turn this country around once and for all. It sounds good in words and look even better on paper for some reason we will not hold our breathe on implementation.

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