It looks like you're using an Ad Blocker.
Please white-list or disable AboveTopSecret.com in your ad-blocking tool.
Some features of ATS will be disabled while you continue to use an ad-blocker.
(visit the link for the full news article)
(AP) Acting with unusual speed, the House on Wednesday adopted a $3.4 trillion budget outline that endorses much of President Barack Obama's ambitious agenda while permitting the national debt to continue to spiral higher.
Not a single Republican voted for the measure; 17 Democrats, mostly from GOP-leaning districts, voted against it.
The Senate will vote on the measure Wednesday afternoon.
With the economy in recession and the bailout of the financial sector costing hundreds of billions of dollars, deficits would rocket to $1.7 trillion for the ongoing budget year, dipping to a still-astonishing $1.2 trillion in 2010. The national debt would rise from today's $11.2 trillion level to $17 trillion at the end of 2014.
"The same Democrats who were outraged over a $455 billion deficit last year came to us this year with a budget that would lead to trillion dollar deficits," said Senate GOP Leader Mitch McConnell of Kentucky.
Originally posted by Solomons
17 trillion..crazy amounts of money..just crazy.I keep asking myself why the american economy hasn't tanked already,no conclusion as of yet.
Originally posted by Estharik
Perfect timing! Everyone is worried about swine flu and lookie here... giant budget passes. Maybe this is what they are trying to keep us from thinking about?