SPEND SPEND SPEND !

WASHINGTON (Reuters) - President Barack Obama
formally notified Congress on Thursday that he
plans a $1.2 trillion increase in the U.S.
debt limit, prompting Republicans to level
election-year charges that deficits are out of control.

Obama, in a one-sentence letter to House of Representatives
Speaker John Boehner, the top Republican in Congress,
said "further borrowing is required to meet existing commitments."

The proposed increase would push
the debt ceiling to $16.394 trillion.

WHY EVEN HAVE A DEBT CEILING IF THEY KEEP RAISING IT?
In my humble opinion a zero based budget is needed.
A method of budgeting in which all expenses must be
justified for each new period. Zero-based budgeting
starts from a "zero base" and every function
within an organization is analyzed for its needs and costs.
Budgets are then built around what is needed
for the upcoming period, regardless of whether the
budget is higher or lower than the previous one.

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